Michigan
Atlas Energy, through Atlas Energy Michigan, owns interests in approximately 2,400 natural gas wells producing from the Antrim Shale, located in northern Michigan.
Atlas Energy Michigan is the largest operator in Michigan’s Antrim Shale, a biogenic shale found between 500 and 1,500 feet in northern Michigan. The Company’s reserves in this basin are long-lived and have historically stable production rates. One of the first shale plays to evolve and mature, Antrim has been producing since the 1940’s. Although mature, the field continues to expand through development of technology and successful testing of new areas. The natural gas in Antrim exists as adsorbed gas on the surface of the shale and within its natural fractures. The use of horizontal wells has opened up new areas of development resulting in approximately 2,400 producing wells, with more than 700 future drilling locations identified.
The Company has approximately 240,000 net developed acres and 30,000 net undeveloped acres. Daily production in the Antrim Shale as of December 2009 was approximately 57 million cubic feet equivalent per day.
Atlas Energy’s technical team in Michigan has a long operating track record in the Antrim Shale which has resulted in strong operating discipline and the position of the lowest-cost producer in the region. Atlas Energy has the most experienced management, technical and operating teams with biogenic shale formations in the country.
