Atlas Energy To Spin-off Non Mid-stream Assets To Subsidiary Atlas Energy Group

(RTTNews) - Atlas Energy, L.P. (ATLS) Wednesday said its subsidiary, Atlas Energy Group, LLC, has filed Form 10 with the Securities and Exchange Commission in connection with the spin-off of Atlas Energy's non-midstream assets.

Atlas Energy Group will hold the non mid-stream assets of its parent company, Atlas Energy, after completion of the proposed acquisition of ATLS' mid-stream assets by Targa Resources Corp. (TRC).

The transfer of non-midstream assets to Atlas Energy Group, and distribution of common units representing 100 percent interest in Atlas Energy group to the ATLS unitholders, are scheduled to occur immediately prior to the closing of the previously announced acquisition of ATLS, by Targa Resources Corp. (TRC), the company stated.

The assets include entire general partner interest and incentive distribution rights of ATLS in its other subsidiary, Atlas Resource Partners, L.P. (ARP), as well as ATLS' approximately 24.7 million limited partner units in ARP.

Considering these transactions and based on its current assumptions, Atlas Resource Partners or ARP, expects to distribute at least $2.4 per common unit for the full year 2015.