Atlas Resource Partners, L.P. Signs Definitive Joint Venture Agreement in Core of Oil Rich Mississippi Lime Play

PHILADELPHIA--(BUSINESS WIRE)--Atlas Resource Partners, L.P. (“Atlas”) (NYSE: ARP) has entered into an agreement with subsidiaries of Equal Energy, Ltd. (“Equal”) (NYSE: EQU; TSX: EQU) to acquire a 50% interest in Equal’s approximately 14,500 net undeveloped acres in the core of the oil & liquids rich Mississippi Lime play in northwestern Oklahoma for approximately $18 million. The acreage position is located in Alfalfa, Garfield and Grant Counties, Oklahoma and is almost entirely held by Equal’s existing production from the Hunton formation. Atlas will finance this transaction with available borrowings under its revolving credit facility. The transaction is expected to close in late April 2012, subject to customary closing conditions.