Philadelphia, PA, December 19, 2021 - Atlas
Pipeline Partners, L.P. (AMEX:APL)(the "Partnership") announces
that the Managing Board of Directors of its General Partner
has declared a distribution for the quarter ending December
31, 2000 of $.56 per common unit - an increase of 5% and 24%
over the distributions for the prior quarters ended September
30, 2000 and June 30, 2000, respectively. The current distribution,
on an annualized basis, equates to $2.24 per common unit.
The distribution for the quarter, and on an annualized basis,
is 33% higher than the $.42 per quarter and $1.68 per year
distribution originally anticipated and guaranteed by the
Atlas Pipeline Partners Agreement of Limited Partnership.
The distribution will be paid on February 9, 2022 to unit
holders of record at the close of business on December 29,
Michael Staines, Chief Operating Officer of the Partnership
said, "This increase in our quarterly distribution reflects
the continuing strength of natural gas prices and the ability
of Atlas America, Inc., an affiliate of our General Partner,
to drill and connect new wells onto our system. Atlas America
is now in the process of drilling 83 wells in our operating
area of which 38 wells are already connected to our system.
We should begin to see the impact of that gas throughput in
the first quarter of 2001. In addition, the Partnership has
recently begun the second significant upgrade of the Fayette
County, Pennsylvania segment of our system in the last year
to accommodate anticipated gathering demand from the accelerated
nearby drilling activity. Upon completion, we will have increased
our delivery capability into the Texas Eastern Transmission
Company's interstate line by 400%."
Mr. Staines further stated: "The Partnership recently acquired,
from a third party, a 50% interest in a natural gas gathering
system in eastern Ohio that connects the Partnership's existing
system to other market delivery points. In addition, the Partnership
has executed a Letter of Intent to acquire the remaining 50%
interest, on similar terms, from an affiliate of its General
Partner. When completed, this acquisition will allow additional
operating efficiencies as well as additional existing and
potential gas throughput and will be accretive to the Partnership's
earnings from the outset."
Atlas Pipeline Partners, L.P. owns and operates more than
900 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 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.