Atlas Energy Luck Run Out? NYSE Threatens Company with De-Listing

Atlas Energy, a once-major driller in the Marcellus Shale, sold much of their Marcellus operations to Chevron in 2011 (see India’s RIL Loses Bidding War for Atlas Energy – $4.3 Billion Deal with Chevron Goes Forward). The Cohen family that runs the company is interesting and colorful. They bought into the company in the 1990s and happened to be in the right place at the right time, just prior to the discovery of the Marcellus (see The Unconventional Rise & Sale of Atlas Energy). In October 2014, the Cohens did it again. Talk about perfect timing! The Cohens sold more of what was left–for a truly astonishing $7.7 billion–to Targa Resources Partners, just prior to the crash of natgas prices (see Atlas Energy/Pipeline Sells Itself (Again) – for $7.7 BILLION!). What’s left now? With respect to the Marcellus, we don’t think there’s much left. But Atlas still does own operating interests in Marcellus wells. It looks like maybe the Cohen family’s good luck may have run out. The New York Stock Exchange has issued Atlas a notice that unless it’s stock price and market capitalization goes up, the NYSE will de-list the company from the exchange…

Please Login to view this content. (Not a member? Join Today!)
You do not have permission to view the comments.

Please Login to post a comment