SOURCE: Atlas Pipeline Holdings, L.P.

October 10, 2006 13:15 ET

Atlas Pipeline Holdings, L.P. Announces Update to Atlas America, Inc.'s Hedge Position

PHILADELPHIA, PA -- (MARKET WIRE) -- October 10, 2006 --Atlas Pipeline Holdings, L.P. (NYSE: AHD) ("Atlas Holdings") announces an update to Atlas America, Inc.'s (NASDAQ: ATLS) (the "Company") hedge positions for natural gas that the Company 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 Pipeline Holdings, L.P. is a limited partnership formed to own and control Atlas Pipeline Partners GP, LLC, the general partner of Atlas Pipeline Partners, L.P., through which it owns the entire general partner interest, all of the incentive distribution rights and 1,641,026 common units in APL. For more information, please visit our website at www.atlaspipelineholdings.com or contact Investor Relations at bbegley@atlaspipelinepartners.com.

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. For more information, please visit our website at www.atlasamerica.com, or contact Investor Relations at bbegley@atlasamerica.com.

Atlas Holdings' actual results, performance or achievements could differ materially from those expressed or implied in this release as a result of certain factors, including the price of gas in the Appalachia and Mid-Continent areas, actual versus projected volumetric production from wells in the area to be served by the new plant, the NGL content of the natural gas processed and other factors disclosed under "Risk Factors" in our most recent 10-K.

Contact Information

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