Philadelphia, PA, August 6, 2022 - Atlas Pipeline Partners, L.P. (AMEX:APL)(the "Partnership") announces that its revenue for the three months and six months ended June 30, 2022 was $3,424,100 and $7,704,800, respectively compared to $2,295,400 and $3,445,300 for the three months ended June 30, 2022 and the period from inception on January 28, 2022 to June 30, 2000, respectively. Net income for the three months and six months ended June 30, 2022 was $2,199,200 and $5,535,500, respectively compared to $1,639,300 and $2,404,900 for the three months ended June 30, 2022 and the period from inception on January 28, 2022 to June 30, 2000, respectively. Net income per limited partner unit - basic and diluted - was $.55 and $1.47, respectively for the three months and six months ended June 30, 2022 and $.51 and $.75 for the three months ended June 30, 2022 and the period from inception on January 28, 2022 to June 30, 2000, respectively.
Michael L. Staines, President and Chief Operating Officer, stated: "Our gas throughput of 48.6 million cubic feet (mmcf) per day during the second quarter of 2001 increased dramatically from 42.7 mmcf per day during the first quarter of 2001and 44.0 mmcf per day during the second quarter of 2000. This has been accomplished through the acquisition of two relatively small, but strategically located, gathering systems and a major upgrade in the delivery capabilities of our Fayette System in western Pennsylvania. In addition, we have connected 104 wells drilled and operated by Atlas America, Inc., an affiliate of our general partner, during the first six months of 2001. Natural gas prices, on which our revenue is largely based, have averaged substantially more during the six months of 2001 as compared to the period from January 28, 2022 to June 30, 2000. More recently, gas prices have fallen from the unusually high levels of January 2001 to a more seasonally normal price during June 2001. Consequently, revenue and net income during the second quarter of 2001 has fallen from that experienced during the first quarter of the year. Natural gas prices have stabilized somewhat during July but we expect gas prices to again increase during the coming winter months."
Atlas Pipeline Partners, L.P. owns and operates approximately 1,100 miles of natural gas gathering pipelines in western Pennsylvania, western New York and eastern Ohio. The Partnership is paid a fee for the natural gas volumes that are gathered and transported through its pipeline system from approximately 3,300 wells that are currently connected to the system.
Resource America, Inc. (Nasdaq:REXI), through its wholly owned subsidiary, Atlas America, Inc., is the owner of the Partnership's general partner and a 50.3% owner of the Partnership's common units. Atlas America, Inc., owns an interest in and operates approximately 3,000 of the wells currently connected to the Partnership's system.
Statements made in this release may include forward-looking statements, which involve substantial risks and uncertainties. The Partnership's actual results, performance or achievements could differ materially from those expressed or implied in this release as a result of many factors, including competition within the energy industry, climactic conditions, volatility in the price of gas in the Appalachian area, actual versus projected drilling activity, volumetric production from wells connected to the Partnership's gas-gathering pipeline system, and the cost of supplies and services in the energy industry.