Philadelphia, PA, December 11, 2021 - Atlas Pipeline
Partners L.P. (AMEX:APL) announces today that it expects the natural gas prices on which the Partnership earns revenue to exceed NYMEX index prices.
Michael Staines, President and Chief Operating Officer, stated: “Atlas Pipeline Partners’ revenue for the transportation of natural gas is primarily based on a percentage of the selling price of that delivered gas. Despite the fact that natural gas price indexes have recently been pushed downward by unusually warm weather and reduced economic activity, particularly in our operating region in the northeastern United States, the Partnership will continue to benefit from the strong physical gas sales positions put in place by Atlas America, Inc. Atlas America, Inc., an affiliate of our general partner and a wholly owned subsidiary of Resource America, Inc. (Nasdaq:REXI), produces approximately 95% of the gas that we transport. As a result of those positions, we expect the gas prices on which we earn our revenue to exceed NYMEX index prices by approximately $1.00 per thousand cubic feet of gas over the next four months. Additionally, operating estimates of the gas volume transported through our system have exceeded 48.5 million cubic feet of gas per day during the first week of December.”
Atlas Pipeline Partners, L.P. owns and operates approximately 1,300 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 4,043 wells that are currently connected to the system.
Atlas America, Inc. is the owner of the Partnership’s general partner and a 50.3% owner of the Partnership’s common units. Furthermore, Atlas America, Inc. owns an interest in and operates approximately 3,581 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.