Atlas Resource buys gas assets
CHARLESTON, W.Va. – A Pittsburgh company completed its acquisition of natural gas assets in West Virginia and Virginia.
Atlas Resource Partners said it bought the long-lived, shallow decline natural gas production from GeoMet Inc. and its subsidiaries for $107 million. The deal has an effective date of Jan. 1, 2014.
The assets are for 70 billion of cubic feet equivalent.
The company said in February the assets were producing about 22 million cubic feet equivalents from more than 400 active wells.