Atlas Resource Partners Q1 Profit Falls

(RTTNews) - Atlas Resource Partners L.P. (ARP) reported that its Common limited partners' interest in net income for the first quarter 2016 fell to $8.93 million or $0.09 per unit and from last year's $80.34 million and $0.91 per unit.

Total revenues for the quarter dropped to $103.21 million from $243.59 million in the prior year.

On May 5, 2016, ARP announced that the Board of Directors elected to suspend monthly common unit distributions, beginning with the month of March 2016, as well as Preferred Class C distributions, due to the continued lower commodity price environment. For the first quarter 2016, ARP paid common unit cash distributions totaling about $0.025 per limited partner unit.