SOURCE: Atlas Pipeline Partners, L.P.

August 15, 2007 16:30 ET

Atlas Pipeline Partners, L.P. Announces Acquisition of Appalachian Assets

PHILADELPHIA, PA--(Marketwire - August 15, 2007) - Atlas Pipeline Partners, L.P. (NYSE: APL) (the "Partnership") today announced that, through its subsidiary Atlas Pipeline McKean, LLC, it has completed the acquisition of gas gathering and processing assets located in McKean County, Pennsylvania. The assets consist of approximately 21 miles of gas gathering pipelines and a gas processing plant with a capacity of 10 million cubic feet of gas per day, and related equipment and delivery taps into the National Fuel Gas system. The purchase price was $6.1 million with additional future gas volume based incentive payments to be made to the seller.

Michael Staines, President of the Partnership, commented: "I am very happy to be able to announce this acquisition as it will allow the Partnership to earn fees from the gathering and removal of natural gas liquids from gas produced in an area of active drilling by a number of operators, including Atlas Energy Resources, LLC. Target formations include natural gas liquids rich shallow formations and potentially the deeper Marcellus Shale formation. In addition we have identified several organic growth opportunities that we will undertake in the next few months."

Atlas Pipeline Partners, L.P. is active in the transmission, gathering and processing segments of the midstream natural gas industry. In the Mid-Continent region of Oklahoma, Arkansas, northern and western Texas and the Texas panhandle, the Partnership owns and operates eight gas processing plants and a treating facility, as well as approximately 7,900 miles of active intrastate gas gathering pipeline and a 565-mile interstate natural gas pipeline. In Appalachia, it owns and operates approximately 1,600 miles of natural gas gathering pipelines in western Pennsylvania, western New York and eastern Ohio. For more information, visit our website at www.atlaspipelinepartners.com or contact bbegley@atlaspipelinepartners.com.

Atlas Pipeline Holdings, L.P. (NYSE: AHD) is a limited partnership which owns and operates the general partner of Atlas Pipeline Partners, L.P., through which it owns a 2% general partner interest, all the incentive distribution rights and approximately 5.5 million common units of Atlas Pipeline Partners.

Atlas America, Inc. (NASDAQ: ATLS) owns an approximate 64% limited partner interest in Atlas Pipeline Holdings, L.P. and an approximate 49% common unit interest and all of the Class A and management incentive interests in Atlas Energy Resources, LLC (NYSE: ATN). For more information, please visit our website at www.atlasamerica.com, or contact Investor Relations at bbegley@atlasamerica.com.

Statements made in this release 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 and Mid-Continent areas, 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.

Contact Information

  • Contact:
    Brian J. Begley
    Vice President, Investor Relations
    1845 Walnut Street
    Philadelphia, PA 19103
    (215) 546-5005
    (215) 561-5692 (facsimile)