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Atlas Resource Partners, L.P. Message Board

davidbdc2001 4 posts  |  Last Activity: Mar 4, 2016 2:24 PM Member since: Nov 12, 2008
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  • davidbdc2001 davidbdc2001 Mar 4, 2016 2:24 PM Flag

    Cohen is a financial engineer. So ARP/ATLS will live longer than most people think. Whether that is "long enough" to see higher oil/gas prices no one knows.

    I would buy ATLS if you want to take a flyer. Cohen & family own much more ATLS than ARP.

  • Reply to


    by cubemeister2001 Feb 25, 2016 11:13 PM
    davidbdc2001 davidbdc2001 Feb 26, 2016 2:21 PM Flag

    Distributions are being paid at the minimal rate that keeps ATLS afloat. Cohen and family own much more ATLS stock than ARP. It really is that simple.

  • davidbdc2001 by davidbdc2001 Feb 26, 2016 2:17 PM Flag

    Must say it was very disappointing that management refused questions. Good times/Bad times its part of the job.

    The question that needs to be asked is - 15 cents on the dollar. That's $100 million to wipe out virtually all ARP's debt. What is the tax hit to unit holders if that were to happen. If the hedge book is worth over $400 million then its well within our reach to greatly reduce leverage.

    For those of us that have held Atlas companies for many years - it was not a surprise that Cohen refused questions. But still very disappointing.

  • davidbdc2001 davidbdc2001 Feb 26, 2016 2:13 PM Flag

    Hi Chegerar,
    Hope your doing well. Though I may not have learned anything of note - it is management's responsibility to take questions - good times and bad.

    I think we both know Cohen is at the front of the line to speak and be seen when times are good. It is IMO cowardly and a dereliction of his responsibility to duck questions now.

    If we are able to buy back debt at .15 on the dollar - then serious questions need to be asked regarding the current use of capital. At that rate we'd only have to generate 100 million to buy back all the debt outstanding. If our hedges are worth 400 MM as they say then the question begs Why not sell some of the hedges and get our debt wiped out.

    Yes, I know this creates gains that flow through to unitholders. And some balance is probably required. But far better to take the question and provide a clear answer to unit holders. I have to say I wasn't surprised when Cohen said there would be no questions - I half expected he'd call in sick last night when I saw the call was this morning.

    The question needs to be answered - what would be the tax hit if we can truly buy back bonds at .15 on the dollar. That would assure long term survival. And lets face it - the distribution is being continued to keep ATLS afloat - and Cohen has a much larger position in ATLS than in ARP.

    And no big surprise that we only raised 59 million. I'm guess next redetermination of the credit facility is going to be a big time hit.

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