Atlas Energy Group LLC (OTCMKTS:ATLS) has finally emerged from bankruptcy, after having reached a deal, with nearly all of its creditors and bond holders. The company had filed for bankruptcy protection and agreed to reduce its debt by $900 million. This was done through a deal with the creditors, who now hold all of the common equity in Titan Energy LLC, as subsidiary of ATLS. However, the company does hold a 2% preferred member interest in the subsidiary.

Currently, the shares of Titan are being traded on the DTC, but are expected to be up-listed to the OTC markets, in the future. Titan began operations on September 2, 2016 and holds oil and gas assets, in 17 states across the US. Moreover, Titan’s reserves have been valued at $832 million. A detailed look at Atlas’s deal, with its creditors reveals that $668 million of its $900 million debt was converted into 90% shares of Titans common stock. The remaining 10% was awarded to the second lien lenders of ATLS.

In addition to this, the deal also called for the creation of a $440 million worth, senior secured credit facility. The redetermination to the credit facility has been suspended until May 2017, provided that Titan meets certain conditions. The remainder of ALTS’s debt would be would be cleared, after the sale of natural gas and oil hedge positions, by the company. The CEO of Atlas, Daniel Herz, expressed his excitement at the opportunity for Titan’s growth. He also voiced his belief that Titan was well positioned to take advantage of opportunities that arose in the current environment.

Last week has seen the stock of Atlas surge significantly in the market. The stock has observed an overall upward trend, adding approximately $0.75 per share, to its stock price. The 2Q2016 financial report of the company had indicated that it had $43,500 in cash and a long-term debt of just over $72, 300, on June 30, 2016.

Atlas Energy Group LLC (OTCMKTS:ATLS) had a trade volume of 556,317, during the September 21 trading session, to reach a close at $1.23 per share, 20.59% higher than the session before.