Philadelphia, PA, December 3, 2021 - Atlas Pipeline
Partners L.P. (AMEX:APL) (the "Partnership") announces that it has no direct exposure to the recent Enron Corp. bankruptcy filing.
Michael Staines, President and Chief Operating Officer, stated: "Atlas Pipeline has contracted with a number of natural gas operators in the Appalachian Basin to transport their natural gas to a variety of delivery points. A transportation fee is paid to the Partnership by each of the operators based on the volume of gas we transport for them. 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. Additionally, there are a handful of other operators producing gas into our system. We do not transport any gas on behalf of Enron and are not dependent on Enron for any of our revenue payments."
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 3,500 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 3,200 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.