Atlas Pipeline Partners Declares Second Quarter Distribution.Business Editors PHILADELPHIA--(BUSINESS WIRE)--June 20, 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 June 30, 2000 of $0.45 per common unit. This 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 $1.80 per common unit. This distribution exceeds the minimum quarterly distribution by $0.03 per common unit. The distribution will be paid on August 10, 2000 to unit holders of record at the close of business on June 30, 2000. The units will begin trading ex-dividend on June 27, 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 commented, "we continue to see good operating efficiencies on the pipeline, and excellent prices in the Appalachian Basin." Atlas Pipeline Partners, L.P. owns and operates approximately 890 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 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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