Atlas Pipeline Partners, L.P. Ranked Number 3 I.P.O. of 2000 for Six-Month Performance.Business Editors PHILADELPHIA--(BUSINESS WIRE)--Jan. 12, 2001 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 IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. SECrets Newsletter, dated January 10, 2001, has rated the Partnership as the third best performing Initial Public Offering of 2000 over the past 6 months with a 63% gain in the value of its limited partnership common unit. 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, "It is very exciting to be able to reward our initial investors' confidence in our Partnership - even more so in that our performance from inception, together with $1.28 in distributions to our limited partners over the past three quarters, results in a 73% return to date on the initial investment, a return which is substantially tax sheltered. The continued strong demand for natural gas delivered from our operating area is an encouraging sign for the future success of our Partnership." Atlas Pipeline Partners, L.P. owns and operates more than 1000 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 3,300 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 52% owner of the Partnership's common units. 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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