Atlas Energy Group, LLC

CIK:0001623595|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues:
Gain (loss) on mark-to-market derivatives	$ (26)	$ (449)	$ (604)	$ 942
Investment loss	(263)		(263)
Other, net	1	16	12	879
Total revenues	2,773	1,298	6,947	7,822
Costs and expenses:
Gas and oil production	663	476	2,105	1,929
General and administrative	540	1,860	4,096	3,538
Depreciation, depletion and amortization	1,274	825	3,973	2,823
Total costs and expenses	2,477	3,161	10,174	8,290
Operating income (loss)	296	(1,863)	(3,227)	(468)
Interest expense	(6,193)	(5,478)	(17,274)	(15,201)
Other income	14,013		14,013
Net income (loss)	8,116	(7,341)	(6,488)	(15,669)
Net income (loss) attributable to non-controlling interests	(167)	1,022	1,704	1,646
Net income (loss) attributable to unitholders’ interests	$ 7,949	$ (6,319)	$ (4,784)	$ (14,023)
Net income (loss) attributable to unitholders per common unit (Note 2):
Basic	$ 0.25	$ (0.20)	$ (0.15)	$ (0.48)
Diluted	$ 0.24	$ (0.20)	$ (0.15)	$ (0.48)
Weighted average common units outstanding (Note 2):
Basic	31,974	31,973	31,974	29,288
Diluted	32,779	31,973	31,974	29,288
Natural Gas
Revenues:
Revenues	$ 51	$ 74	$ 152	$ 252
Oil
Revenues:
Revenues	2,849	1,559	7,266	5,467
NGLs
Revenues:
Revenues	$ 161	$ 98	$ 384	$ 282

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (6,488)	$ (15,669)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation, depletion and amortization	3,973	2,823
(Gain) loss on derivatives	271	(453)
Investment loss	263
Amortization of deferred financing costs and debt discount	627	488
Non-cash compensation expense	(14)	(1,067)
Other income	(14,013)
Paid-in-kind interest	16,134	13,983
Equity income in unconsolidated companies		(879)
Distributions received from unconsolidated companies	92	1,187
Changes in operating assets and liabilities:
Accounts receivable, prepaid expenses and other	(607)	30
Advances to/from affiliates	(346)	9,253
Accounts payable and accrued liabilities	(2,732)	(4,060)
Net cash provided by (used in) operating activities	(2,840)	5,636
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(6,792)
Net cash used in investing activities	(6,792)
CASH FLOWS FROM FINANCING ACTIVITIES:
Deferred financing costs and other	(58)	(42)
Net cash used in financing activities	(58)	(42)
Net change in cash and cash equivalents	(9,690)	5,594
Cash and cash equivalents, beginning of year	12,929	12,009
Cash and cash equivalents, end of period	$ 3,239	$ 17,603

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 3,239	$ 12,929
Accounts receivable	864	564
Advances to affiliates	459
Prepaid expenses and other	128	160
Total current assets	4,690	13,653
Property, plant and equipment, net	68,199	65,293
Investment in common stock	13,750
Other assets, net	3,585	5,102
Total assets	90,224	84,048
Current liabilities:
Accounts payable	793	332
Advances from affiliates	9,715	9,602
Current portion of derivative payable	361	497
Accrued liabilities	4,865	7,971
Current portion of long-term debt	96,015	79,350
Total current liabilities	111,749	97,752
Asset retirement obligations and other	649	1,968
Commitments and contingencies (Note 6)
Unitholders’ equity (deficit):
Common unitholders’ equity (deficit)	(89,698)	(84,900)
Warrants	1,868	1,868
Unitholders'/owner's equity excluding non-controlling interests	(87,830)	(83,032)
Non-controlling interests	65,656	67,360
Total unitholders’ equity (deficit)	(22,174)	(15,672)
Total liabilities and unitholders’ equity (deficit)	$ 90,224	$ 84,048