Michael L. Staines
Chief Operating Officer
1521 Locust Street - 4th Floor
Philadelphia, PA 19102
(215) 546-5388 (facsimile)
Friedman Billings Ramsey Initiates Coverage of Atlas Pipeline Partners with a "Buy"
Philadelphia, PA, 2/25/2000 - Atlas Pipeline Partners, L.P. (AMEX:APL)(the "Partnership") announced that Friedman Billings Ramsey & Co, Inc., of Arlington, Virginia ("FBR") has initiated coverage of APL with a BUY recommendation and a 12-month price target of $14.50 per unit.
Atlas Pipeline Partners, L.P. owns and operates approximately 890 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 3,000 wells that are currently connected to the system.
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.