Atlas Resource Partners, L.P. to Acquire Long-Lived, Shallow Decline Natural Gas Production in West Virginia for $107 Million

PHILADELPHIA--(BUSINESS WIRE)--Atlas Resource Partners, L.P. (NYSE: ARP) announced today that it has entered into a definitive agreement to acquire approximately 70 Bcfe of natural gas proved reserves in West Virginia and Virginia from GeoMet, Inc. (OTCQB: GMET) and certain of its subsidiaries (collectively, “GeoMet”) for $107 million, with an effective date of January 1, 2014. The acquisition is expected to be immediately accretive to ARP’s distributable cash flow per unit. The purchase price is subject to customary adjustments to implement the effective date. The transaction is subject to, among other items, approval from GeoMet’s stockholders.