Atlas Resource Partners, L.P. announced that the Partnership has received court approval of its prepackaged restructuring (the "Prepackaged Plan") under an order dated August 26, 2016. Accordingly, the Partnership is expected to emerge as Titan Energy, LLC on September 1, 2016, pursuant to the Prepackaged Plan.

"Today's confirmation was a favorable step on our path to restructuring and we look forward to beginning a new chapter as Titan Energy, LLC," said Daniel Herz, Chief Executive Officer. "The Senior Management team and I want to thank our employees, suppliers, royalty owners, trade partners, and other supportive stakeholders for their continued support, which has allowed the Partnership to continue to operate in the ordinary course of business through this process."

In the consent solicitation process, which was concluded on August 23, 2016, the Prepackaged Plan was approved by 100% of the lenders in the Partnership's Revolving Credit Facility, 100% of the lenders in the Partnership's Second Lien Credit Facility, and holders of the Partnership's Senior Notes representing 99% of the value of the Senior Notes (96% of the number of holders).

Perella Weinberg Partners LP is acting as financial advisor and Skadden, Arps, Slate, Meagher & Flom, LLP and Paul Hastings LLP are acting as legal counsel to the Partnership in connection with the Restructuring Plan.  Opportune LLP is acting as financial advisor and Linklaters LLP is acting as legal counsel to the Revolving Credit Facility agent.  PJT Partners is acting as financial advisor and Latham & Watkins LLP is acting as legal counsel to the Second Lien Term Loan lenders.  Centerview Partners LLC is acting as financial advisor and Akin Gump Strauss Hauer & Feld LLP is acting as legal counsel to an ad hoc group of Senior Noteholders.