Atlas Companies Reorganize Senior Management

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Apr 14, 2015, 08:30 ET

PITTSBURGH, April 14, 2015 /PRNewswire/ -- Atlas Energy Group, LLC (NYSE: ATLS) ("Atlas Energy Group" or "ATLS") and Atlas Resource Partners, L.P. (NYSE: ARP) ("Atlas Resource Partners" or "ARP") announces today changes in executive management at both companies.

Edward E. Cohen will continue to serve as the Chief Executive Officer of Atlas Energy Group. The Executive Committee of Atlas Energy Group will be comprised of Jonathan Z. Cohen (Executive Chairman of Atlas Energy Group), Edward E. Cohen and Daniel C. Herz. Matthew A. Jones, who has served in senior positions with Atlas since 2005, will be retiring.

The following appointments to executive management were made:

Daniel C. Herz has been appointed President of Atlas Energy Group and Chief Executive Officer - Atlas Resource Partners
Mark D. Schumacher has been appointed President - Atlas Resource Partners
Dave E. Leopold has been appointed Chief Operating Officer - Atlas Resource Partners

Ed Cohen commented, "The expertise and enthusiasm from Daniel, Mark and Dave to further grow our enterprises will greatly benefit our companies and position us well to pursue our strategic initiatives. All three individuals have exhibited strong dedication to Atlas and I expect that this commitment will continue to serve our stakeholders in the future." Ed Cohen added, "I want to thank Matt Jones for of his tremendous contributions over the years to the Atlas companies. We wish Matt all the best in his well-earned retirement."

Daniel Herz has been Senior Vice President of Corporate Development and Strategy for ATLS and its predecessors since 2007, and was Vice President of Corporate Development from 2004 through 2007. Mr. Herz served as Senior Vice President of Corporate Development of Atlas Pipeline Partners from August 2007 until its sale to Targa Resources in February 2015, and Vice President of Corporate Development from December 2004 until August 2007. Mr. Herz also served as Senior Vice President of Corporate Development of Atlas Energy, Inc. and Atlas Energy Resources, LLC from August 2007 until its sale to Chevron Corporation in February 2011, and Vice President of Corporate Development from December 2004 until August 2007.

Mark Schumacher has served as Chief Operating Officer of ARP since October 2013 and Executive Vice President from July 2012 to October 2013. Prior to Atlas, Mr. Schumacher served as President of Titan Operating, LLC, an enterprise based in the Barnett Shale which was acquired by ARP in July 2012. Mr. Schumacher also held previous management positions at EnCana Oil & Gas (USA) Inc. and Union Pacific Resources.

Dave Leopold has recently served as Senior Vice President of Operations at ARP. Prior to Atlas, Mr. Leopold was Operations Manager for Chesapeake Energy where he led the Barnett Shale operations team to help develop the second largest position in the basin. In addition, Mr. Leopold previously served in management roles at Anadarko Petroleum.

Atlas Energy Group, LLC (NYSE: ATLS) is a master limited partnership which owns the following interests: all of the general partner interest, incentive distribution rights and an approximate 28% limited partner interest in its upstream oil & gas subsidiary, Atlas Resource Partners, L.P.; the general partner interests, incentive distribution rights and limited partner interests in its private E&P development subsidiary; and a general partner interest in Lightfoot Capital Partners, an entity that invests directly in energy-related businesses and assets. For more information, please visit our website at www.atlasenergy.com, or contact Investor Relations at [email protected].

Atlas Resource Partners, L.P. (NYSE: ARP) is an exploration & production master limited partnership which owns an interest in over 14,000 producing natural gas and oil wells, located primarily in Appalachia, the Barnett Shale (TX), the Mississippi Lime (OK), the Eagle Ford Shale (TX), the Raton Basin (NM), Black Warrior Basin (AL) and the Rangely Field (CO). ARP is also the largest sponsor of natural gas and oil investment partnerships in the U.S. For more information, please visit our website at www.atlasresourcepartners.com, or contact Investor Relations at [email protected].

Cautionary Note Regarding Forward-Looking Statements

Certain matters discussed within this press release are forward-looking statements. Although Atlas Resource Partners, L.P. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Atlas Resource Partners does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. This document contains forward-looking statements that involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. ARP cautions readers that any forward-looking information is not a guarantee of future performance. Such forward-looking statements include, but are not limited to, statements about future financial and operating results, resource potential, ARP's plans, objectives, expectations and intentions and other statements that are not historical facts. Risks, assumptions and uncertainties that could cause actual results to materially differ from the forward-looking statements include, but are not limited to, those associated with general economic and business conditions; ARP's ability to realize the benefits of its acquisitions; changes in commodity prices; changes in the costs and results of drilling operations; uncertainties about estimates of reserves and resource potential; inability to obtain capital needed for operations; ARP's level of indebtedness; changes in government environmental policies and other environmental risks; the availability of drilling equipment and the timing of production; tax consequences of business transactions; and other risks, assumptions and uncertainties detailed from time to time in ARP's reports filed with the U.S. Securities and Exchange Commission, including quarterly reports on Form 10-Q, current reports on Form 8-K and annual reports on Form 10-K. Forward-looking statements speak only as of the date hereof, and we assume no obligation to update such statements, except as may be required by applicable law.