Have you suffered losses investing in Atlas Resources Public 18-2008 A L.P.? If so, The White Law Group may be able to help.
According to their website, Pittsburgh-based Atlas Resource Partners, L.P. is a fully integrated energy drilling and production company. The company has operations in basins across 16 different states. In addition, Atlas Resource Partners is a leading sponsor of tax-advantaged direct investment natural gas and oil partnerships in the U.S.
Atlas Resource Partners LP filed for bankruptcy protection on July 26 joining dozens of struggling oil and gas producers that were pushed into Chapter 11 after energy prices began dropping in 2014.
A recent letter to the company shareholders delivered some potentially distressing news to shareholders. The letter included the following:
– Atlas Resources Public #18-2008(A) L.P. ceased distributions after August 2015 as revenues dropped below the operating costs of the wells due to the material decline in commodity prices and the aging of the wells.
-Given the NYMEX future projections of oil and gas prices, Atlas Resource Partners do not expect future Partnership revenues to exceed the operating expenses of the wells and the future plugging liabilities.
– Following the completion of the Acquisition, the MGP will formally wind up, liquidate and dissolve the Partnership. Because the Partnership will no longer have any assets or liabilities, there will be no Distribution Interest to be distributed.
This is unfortunate news for investors.
The White Law Group continues to investigate the liability that brokerage firms have for recommending high-risk oil and gas programs, such as Atlas Resource Series. The firm has handled a number of claims involving Atlas, and expects there are many other investors who don’t realize they may have recourse. For more information on The White Law Group’s investigation see Atlas Resource Partners LP Files for Bankruptcy Protection.
If you invested in an Atlas Resources offering and would like to discuss your litigation options, please call The White Law Group at 888-637-5510 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. The firm represents investors in FINRA arbitration claims throughout the country. To learn more, please visit our website, www.whitesecuritieslaw.com.