Atlas Energy, L.P. and Atlas Pipeline Partners, L.P. recently completed previously announced merger transactions with a subsidiary of Targa Resources Corp. and a subsidiary of Targa Resources Partners LP., respectively. Unit holders of the two Atlas entities and stockholders of the Targa companies approved the transactions on February 20, 2015.
As a result of the merger, Atlas Energy Group, LLC (AEG) was formed to hold the non-midstream assets that spun off from Atlas Energy, L.P.
AEG began trading on the NYSE yesterday, March 2, 2015, under the symbol “ATLS” which was previously used by Atlas Energy, L.P. Its senior management team consists of the same executives that also ran Atlas Energy, L.P.
Atlas Energy Group, LLC is a master limited partnership which now owns all of the general partner interest, incentive distribution rights, and about 28% limited partner interest in Atlas Resource Partners, L.P. (NYSE: “ARP”), the sponsor of natural gas and oil investment partnerships offered through independent broker-dealers.
Other interests owned by AEG include a private exploration and production development subsidiary and a general partner interest in an entity that invests directly in energy-related businesses and assets, Lightfoot Capital Partners.