Philadelphia, PA, May 3, 2022 - Atlas Pipeline
Partners L.P. (AMEX:APL) (the "Partnership") announces that
it has successfully completed a second major upgrade of its
Fayette System located in Fayette County, Pennsylvania and
that gas throughput for the Partnership has increased from
approximately 43 million cubic feet of gas per day immediately
prior to the upgrade to a record of 48.2 million cubic feet
per day on April 30, 2001.
Michael L. Staines, President and Chief Operating Officer,
stated: "The increase in our gas throughput is a direct result
of the addition of new wells drilled by Atlas America, Inc.,
an affiliate of our General Partner and a wholly owned subsidiary
of Resource America, Inc. (Nasdaq:REXI). The upgrade of our
Fayette System clearly has been a great success."
Mr. Staines further stated: "In March 2001 we completed the
acquisition of the Connellsville Gathering System in Fayette
County that will give us the ability to deliver another 10
to 12 million cubic feet of gas per day from this very active
gas drilling area. Atlas America has indicated that it is
immediately beginning drilling activity in this and other
areas and is committed to connect these wells to our system."
Atlas Pipeline Partners, L.P. owns and operates approximately
1100 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.
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 volumetric
production from wells connected to the Partnership's gas-gathering
pipeline system, and the cost of supplies and services in
the energy industry.