Chief Operating Officer
Atlas Pipeline Partners
1521 Locust St. - 4th Floor
Philadelphia, PA 19102
(215) 546-5388 (facsimile)
Atlas Pipeline Partners, L.P. Declares Record Distribution of $.67 Per Common Unit for the Second Quarter
Philadelphia, PA, June 20, 2022 - Atlas Pipeline Partners L.P. (AMEX:APL) (the "Partnership") announces that the Managing Board of Directors of its General Partner has declared a quarterly distribution for the period ending June 30, 2022 in the amount of $.67 per common unit - an increase of 49% over the $.45 per common unit distribution for the quarter ended June 30, 2000.
The distribution will be paid on August 10, 2022 to unit holders of record at the close of business on June 29, 2001.
Michael Staines, President and Chief Operating Officer of the Partnership said, "The pipeline operations of the Partnership continue to perform well. We have recently completed improvements that have already resulted in significantly higher gas throughput. Gas prices, on which the Partnership's revenue is based, continue to remain strong but, as expected, have moderated somewhat from the unusually high prices of January and February this year. I expect the Partnership's operating performance to remain strong in the coming third quarter."
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. Atlas America, Inc., an affiliate of our General Partner and a wholly owned subsidiary of Resource America, Inc. (Nasdaq:REXI) owns an interest in and operates approximately 3,000 of the wells currently connected to our 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 certain factors, including competition within the energy industry, climactic conditions and the price of gas in the Appalachian area, actual versus projected drilling activity and volumetric production from wells connected to the Partnership's gas-gathering pipeline system, and the cost of supplies and services in the energy industry.