SOURCE: Atlas America, Inc.

October 10, 2006 11:08 ET

Atlas America, Inc. Reports Update to Its Hedge Position

PHILADELPHIA, PA -- (MARKET WIRE) -- October 10, 2006 -- Atlas America, Inc. (NASDAQ: ATLS) (the "Company") reported today an update to its hedge positions for natural gas that it produces in the Appalachia region. These new hedging contracts cover future production for the fourth quarter of 2006 through the end of 2009. A summary of the Company's current hedge position is as follows:

 Production            Hedged               Average
Period Ended           Volume            Fixed Price(b)       Percentage
December 31,    (mcf equivalent)(a)        (per mcf)           Hedged(c)
------------    ------------------       --------------       ----------
2006                 1,511,594           $       9.28            65%
2007                 7,441,765           $       9.86            81%
2008                 7,017,359           $      10.09            76%
2009                 6,101,648           $       9.72            66%

(a) In thousand cubic feet (“mcf”).
(b) Includes an estimated positive basis differential and Btu adjustment.
(c) Based upon natural gas production volume for the second quarter of
    2006.
Atlas America, Inc. is an energy company engaged primarily in the development and production of natural gas in the Appalachian Basin for its own account and for its investors through the offering of tax advantaged investment programs. Atlas America also owns an 83% interest in Atlas Pipeline Holdings, L.P. (NYSE: AHD), a limited partnership which owns a 2% general partner interest in Atlas Pipeline Partners, L.P. (NYSE: APL), all the incentive distribution rights in APL and 1,641,026 common units of APL. For more information, please visit our website at www.atlasamerica.com, or contact Investor Relations at bbegley@atlasamerica.com.

Certain matters discussed within this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Atlas America, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, regulatory changes, changes in local or national economic conditions and other risks detailed from time to time in the Company's reports filed with the SEC, including quarterly reports on Form 10Q, reports on Form 8-K and annual reports on Form 10-K.

Contact Information

  • Contact:
    Brian Begley
    Investor Relations
    1845 Walnut Street - Suite 1000
    Philadelphia, PA 19103
    (215) 546-5005
    (215) 561-5692 (facsimile)