On March 25, 2020, the U.S. Securities and Exchange Commission (the “SEC”) issued an order under Section 36 (ReleaseNo. 34-88465) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), granting exemptions from specified provisions of the Exchange Act and certain rules thereunder by providing conditional relief to public companies that are unable to timely comply with their filing obligations as a result of the novel coronavirus(“COVID-19”) outbreak (the “SEC Order”). The SEC Order provides that a registrant subject to the reporting requirements of Exchange Act Section 13(a) or 15(d), and any person required to make any filings with respect to such registrant, is exempt from any requirement to file or furnish materials with the SEC under Exchange Act Sections 13(a), 13(f), 13(g), 14(a), 14(c), 14(f), 15(d) and Regulations 13A, Regulation13D-G (except for those provisions mandating the filing of Schedule 13D or amendments to Schedule 13D), 14A, 14C and 15D, and Exchange ActRules 13f-1, and14f-1, as applicable, if certain conditions are satisfied.
Atlas Growth Partners, L.P. (the “Company”) is relying on the SEC Order issued by the SEC to extend the May 15, 2020 required filing date of its first quarter 2020 Quarterly Report on Form10-Q (the “Company Form10-Q”). The effects ofCOVID-19 have limited the abilities of the Company’s employees to conduct normal business activities, including the preparation and review of the Company Form10-Q. The Company is following the recommendations of governmental health authorities to minimize exposure risk for its employees, including having some employees work remotely. As a result of the implementation of such measures, the limited size of the Company’s accounting staff and the recent transition in the ownership of the Company’s General Partner, the Company has experienced difficulties in completing the normal financial closing processes and internal reviews that are required to timely file the Company Form10-Q. The Company expects to file the Company Form10-Q on or before June 29, 2020, 45 days after the original due date.
In light of the currentCOVID-19 pandemic, the Company will be including the following Risk Factor in the Company Form10-Q, as may be updated to reflect subsequent events impacting the Company:
The ongoingCOVID-19 outbreak and the related impact on oil and natural gas prices have adversely affected, and could continue to adversely affect, our business, financial condition and results of operations.
The ongoingCOVID-19 outbreak, which the WHO declared a pandemic and the United States Government declared a national emergency in March 2020, has reached more than 200 countries and has continued to be a rapidly evolving situation. The pandemic has resulted in widespread adverse impacts on the global economy and financial markets and we and our operators and other parties with whom we have business relations have experienced some resulting disruptions to our and their business operations. For example, sincemid-March, we have had to limit access to our administrative offices and have taken certain other precautionary measures intended to help minimize the risk to our employees, our business and our community. There is considerable uncertainty regarding the extent to whichCOVID-19 will continue to spread and the extent and duration of governmental and other measures implemented to try to slow the spread of the virus, such as large-scale travel bans and restrictions, border closures, quarantines,shelter-in-place orders and business and government shutdowns. In addition, our employees are now working remotely, which could increase the risk of security breaches or other cyber-incidents or attacks, loss of data, fraud and other disruptions.
The impact of the pandemic, including the resulting significant reduction in global demand for oil and, to a lesser extent natural gas, coupled with the sharp decline in oil prices following the announcement of price
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