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Contact: Michael L. Staines
Chief Operating Officer
1521 Locust Street - 5th Floor
Philadelphia, PA 19102
(215) 546-5005
(215) 546-5388 (facsimile)
Atlas Pipeline Partners Announces Addition of 75 Gas Wells to System
Philadelphia, PA, 2/8/2022 - Atlas Pipeline Partners, L.P. (AMEX:APL)(the "Partnership") announced that Atlas America, Inc. ("Atlas"), a subsidiary of Resource America, Inc. (NASDAQ:REXI) has drilled and connected 75 natural gas development wells to the Partnership's gas gathering system. Initial gas production from these wells is expected to be more than 6 million cubic feet of gas per day.
Atlas Pipeline Partners, L.P. owns and operates approximately 890 miles of gas gathering pipelines in western Pennsylvania, western New York and eastern Ohio. The Partnership is paid a fee for the volume of natural gas that is gathered and transported through its pipeline system. There are approximately 3,000 wells connected to the system with a daily throughput in excess of 45 million cubic feet of gas.
Atlas America, Inc. holds an approximate 53% interest in the Partnership through a subsidiary that acts as General Partner of the Partnership.
Statements made in this release 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 certain factors, including competition within the energy industry, climactic conditions and the price of gas in the Appalachian area, actual versus projected volumetric production from wells connected to the Partnership's gas-gathering pipeline system, and the cost of supplies and services in the energy industry.
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