Under the terms of the $35.5m deal, Atlas will acquire the Arkoma assets which comprise approximately 41 billion cubic feet (bcf) of mature, low-decline natural gas reserves.
The reserves, which include 550 active wells, are currently producing approximately 11 million cubic feet per day.
Atlas Energy Group president Daniel Herz said: "Retaining the assets within the Atlas complex should benefit both ATLS and ARP.
"The steady cash flow, coupled with upside from higher natural gas prices, makes the Arkoma assets ideal for ARP.
"Additionally, the transaction is immediately accretive to ARP’s distributable cash flow per unit, while the financing also enhances ARP’s balance sheet and liquidity position."
The sale proceeds will be used by Atlas Energy to repay a portion of its debt, which had an outstanding balance of $104.4m as of 31March.
The transaction, which is subject to customary closing conditions and adjustments, is planned to be completed in the second quarter this year.
Atlas Energy owns approximate 28% limited partner interest in Atlas Resource Partners, which currently owns an interest in more than 14,000 producing natural gas and oil wells.
