Saturday, April 3, 2010
Atlas Energy Inc. (ATLS)
Atlas Energy, Inc., formerly Atlas America, Inc., is an independent developer and producer of natural gas and oil, with operations in the Appalachian Basin, the Michigan Basin and the Illinois Basin. Within these basins, the Company is a natural gas producer in four established shale plays, namely the Marcellus Shale of western Pennsylvania, the Antrim Shale of northern Michigan, the Chattanooga Shale of northeastern Tennessee and the New Albany Shale of west central Indiana. As of December 31, 2009, it operated 7,930 wells. As of December 31, 2009, its Appalachian Basin proved reserves were approximately 498 billion cubic feet equivalents (Bcfe), of which 348 Bcfe were proved undeveloped reserves. On September 29, 2009, the Company completed its merger with Atlas Energy Resources, LLC (ATN). On May 31, 2009, it completed the sale of two natural gas processing plants and associated pipelines located in southwestern Pennsylvania.
Current Key Statistics:
http://finance.yahoo.com/q/ks?s=ATLS
Reasons to Buy:
- The company has entered into a $1.7 billion joint venture with India’s Reliance Industries, The company will be paid $340 million in cash and an additional $1.36 billion in the form drilling carry over the next 5.5 years by Reliance.
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Reasons to Sell:
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Analyst:
Manoj Mohta is an MBA Candidate at the Weatherhead School of Management, Case Western Reserve University and currently working with Philips Healthcare. He has 12 years of work experience in Customer support, marketing and sales especially in automobiles and petroleum retail businesses.
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