ATLAS AMERICA, INC.
Resource America, Inc., through its subsidiary Atlas
America, Inc., is actively engaged in its original
business: energy finance and production. The Company
offers energy investment programs, explores for and
produces oil and natural gas and transports natural
gas from the well-head to sales points primarily in
the Appalachian Basin.
In September 1998, the Company acquired The Atlas
Group, Inc. (Atlas), a privately held
Pittsburgh-based company. Subsequently, in August
1999, the Company acquired Viking Resources Corporation,
a privately held Canton, Ohio company. Both companies,
which now operate as Atlas America, Inc., have been
leading participants in the energy finance industry
for more than 28 years, and offer investment programs
in developmental natural gas wells in the Pennsylvania
and Ohio portions of the Appalachian Basin. Over the
past ten years, Atlas and Viking have collectively
drilled more than 1065 wells on behalf of more than
41investment programs, with an asset value in excess
of $370 million, that have been offered and sold through
a nationwide network of investment broker/dealers.
The Company has participated in each of those wells,
retaining an interest in the production and providing
operating and gas gathering services.
With the inclusion of its original energy operations
the Company now provides management services for the
drilling of more than 150 wells per year on behalf
of the more than 87 joint ventures and investment
partnerships that it currently manages. It operates
more than 4,500 predominantly gas wells with proven
developed producing gas reserves in excess of 138.4
billion cubic feet of gas equivalent, and holds mineral
rights in more than 400,000 acres of land.