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On 7 May 2014, Atlas Resource Partners, LP announced an agreement to purchase for US$420 million Merit Energy's 25% non-operated net working interest in Chevron's Rangely Field project area. The assets, located in northwest Colorado, include a mature tertiary CO2 flood with low-decline oil production. This transaction marks the second acquisition for Atlas Resource Partners in 2014 and is the company's seventh acquisition since early 2012.
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MLP Atlas Resource Partners acquires a 25% stake in Colorado's Rangely field for US$420 million PDF - 324.13 KB 4 Pages, 2 Tables, 1 Figures
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The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.
This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.
This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.
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Deal insight | May 2014
MLP Atlas Resource Partners acquires a 25% stake in Colorado's Rangely field for US$420 million
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