Atlas Pipeline Partners, L.P. Declares $.535 Per Common Unit Third Quarter Distribution.Business Editors PHILADELPHIA--(BUSINESS WIRE)--Sept. 21, 2000 Atlas Pipeline Partners L.P. (AMEX AMEX See: American Stock Exchange :APL (A Programming Language) A high-level mathematical programming language noted for its brevity and matrix generation capabilities. Developed by Kenneth Iverson in the mid-1960s, it runs on micros to mainframes and is often used to develop mathematical models. ) (the "Partnership") announces that its Managing Board of Directors has declared a distribution for the quarter ending September 30, 2000 of $.535 per common unit - an increase of 19% over the distribution for the prior quarter ended June 30, 2000. The current distribution, on an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. basis, equates to $2.14 per common unit. The distribution will be paid on November 10, 2000 to unit holders of record at the close of business on September 29, 2000. Michael Staines, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the Partnership said, "We are very pleased to increase the distribution to $.535 per common unit. The underlying business remains strong as we have benefited from higher natural gas prices, the addition of newly drilled natural gas wells to our pipeline system and continued diligence in holding down operating costs." Atlas Pipeline Partners, L.P. owns and operates more than 900 miles of natural gas gathering pipelines in western Pennsylvania, western New York
Western New York refers to the westernmost region of New York State. 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 volumetric volumetric /vol·u·met·ric/ (vol?u-met´rik) pertaining to or accompanied by measurement in volumes. vol·u·met·ric adj. Of or relating to measurement by volume. production from wells connected to the Partnership's gas-gathering pipeline system, and the cost of supplies and services in the energy industry. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion