Atlas Energy
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| Atlas was reported to be actively leasing drilling rights in Fayette, Greene, Washington and Westmoreland Counties in Pennsylvania. | Atlas was reported to be actively leasing drilling rights in Fayette, Greene, Washington and Westmoreland Counties in Pennsylvania. | ||
| - | Atlas' second quarter, 2009 report stated that the company had drilled drilled 19 vertical and two horizontal wells in the quarter. It had completed one of the two horizontal ones. It planned to drill and complete roughly 100 vertical Marcellus shale wells before the end of the year. | + | Atlas' second quarter, 2009 report stated that the company had drilled drilled 19 vertical and two horizontal wells in the quarter. It had completed one of the two horizontal ones. |
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| + | The company planned to drill and complete roughly 100 vertical and 4 horizontal Marcellus shale wells before the end of 2009. The horizontal wells were to be 100% owned by Atlas. | ||
| According to a July, 2009 report, Atlas had about 75 people working in its Moon Township Headquarters and another 200 in its Fayette County Field Office in Smithfield, PA. | According to a July, 2009 report, Atlas had about 75 people working in its Moon Township Headquarters and another 200 in its Fayette County Field Office in Smithfield, PA. | ||
Revision as of 05:14, 16 August 2009
Here is where some info about Atlas Energy should go. This article is still a stub and needs your attention. It does not have a template and contains minimal information. Please dive in and help it grow!
Atlas Energy LLC (NYSE: ATN), based in Moon Township, PA (Pittsburgh metro area), is a subsidiary of Atlas America, Inc. (NASDAQ GS: ATLS). It owns all of the production assets of the parent company which are substantially located in the Appalachian Basin. A September, 2008 report stated that Atlas had 78 vertical Marcellus shale wells drilled and one horizontal one. 69 of the wells feed into a pipeline.
Atlas was reported in September, 2008 to be an investor along with CONSOL Energy Company of approximately $100 million in the western Pennsylvania counties of Westmoreland and Allegheny.
According to an October, 2008 report, Atlas owns drilling rights to roughly 587,000 acres of Pennsylvania Marcellus shale, and has invested in excess of $50 million. 271,000 acres are in southwestern Pennsylvania and were mostly acquired during 2007 to 2008. Update: August, 2009. Atlas' second quarter, 2009 report issued in early August indicated that the company now owned 532,000 acres prospective for Marcellus shale, and 266,000 acres of it is located in southwest Pennsylvania.
By early November, 2008 drilling on the horizontal leg of the company's second horizontal well had begun, and it was expected to be completed and online by year-end. In late November, Atlas announced that it had finished drilling and casing this well. It is located in Washington County and extends horizontally 3,000 feet. The company planned an eight-stage frac for it. In May, 2009 Atlas announced a third horizontal well in the series had the extraordinary initial production rate of 10.1 Mmcf/d. By mid-May, eight horizontal wells had been drilled since the forth quarter of 2008. Only the first three of the eight were on line. Working with its various joint venture partners, Atlas planned to drill twelve additional Marcellus wells by year-end 2009.
The company owns a 50% interest in the twelve planned horizontal wells including those ones already mentioned. Ten of the wells are located in Washington County, Pa. The remaining two are to be drilled in eastern Greene and western Fayette Counties. With the latter two, Atlas is slated to operate the wells and have a 25% working interest.
Another November, 2008 report indicated Atlas has 90 Marcellus shale wells producing 25 million cubic feet per day.
In December, 2008 the company announced that one of its vertical Marcellus shale wells had an estimated initial production of 5 Mmcf/d. While the location of this spectacular vertical well was not provided, the same company update noted that Atlas had completed over 100 vertical wells in its Marcellus drilling program.
The company is organized similar to a limited partnership run by the parent company, ATLS. The later, also has another subsidiary, Atlas Pipeline Partners (APL), which owns and operates a network of gas pipelines that hook-up to interstate pipelines.
In April, 2009 APL announced that it had become 49% owner of a joint venture with The Williams Companies in which substantially all of its Appalachian pipeline gathering system had been transferred to it.
Atlas was reported to be actively leasing drilling rights in Fayette, Greene, Washington and Westmoreland Counties in Pennsylvania.
Atlas' second quarter, 2009 report stated that the company had drilled drilled 19 vertical and two horizontal wells in the quarter. It had completed one of the two horizontal ones.
The company planned to drill and complete roughly 100 vertical and 4 horizontal Marcellus shale wells before the end of 2009. The horizontal wells were to be 100% owned by Atlas.
According to a July, 2009 report, Atlas had about 75 people working in its Moon Township Headquarters and another 200 in its Fayette County Field Office in Smithfield, PA.
- Richard D. Weber is President and COO of Atlas Energy.
- Edward E. Cohen, Ph.D. is CEO of the company.
- Tommy L. Thompson is Vice President, Horizontal Drilling.
- Brian Begley is Vice President of Investor Relations.
- Gene Dubay is President and CEO of Atlas Pipeline Partners.
