Atlas Pipeline Partners, L.P. Declares Distribution of $.52 Per Common Unit for the First Quarter.Business Editors PHILADELPHIA--(BUSINESS WIRE)--March 21, 2002 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 the Managing Board of Directors of its General Partner has declared a quarterly distribution for the period ending March 31, 2002 in the amount of $.52 per common unit. The distribution will be paid on May 10, 2002 to unit holders of record at the close of business on March 29, 2002. Michael Staines Michael Staines (1885-1955) was an Irish republican and politician. He was born in Newport Co. Mayo, his mother's home village, and where his father was serving as an RIC officer. , President and 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. stated "While this distribution is marginally lower than the previous regular quarterly distribution of $.58 per unit due to lower gas prices on which our revenue is based, I am confident that improved drilling activity in our operating area and the continual addition of new wells to our system, coupled with improving gas prices will result in the improved performance of our partnership in the months to come." Atlas Pipeline Partners, L.P. owns and operates more than 1,300 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 4,050 wells that are currently connected to the system. Resource America, Inc. (Nasdaq:REXI), through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Atlas America, Inc., is the owner of the Partnership's general partner and a 50.3% owner of the Partnership's common units. Atlas America, Inc., owns an interest in and operates approximately 3,600 of the wells currently connected to the Partnership's 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. |
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