Atlas Pipeline Partners, L.P. Declares Distribution of $.62 Per Common Unit for the Third Quarter

Business Wire,  Sept 19, 2003  

• E-mail
• Print
• Link

Business Editors

PHILADELPHIA--(BUSINESS WIRE)--Sept. 19, 2003

Atlas Pipeline Partners L.P. (AMEX:APL) (the "Partnership") announces that the Managing Board of Directors of its General Partner has declared a quarterly distribution for the period ending September 30, 2003 in the amount of $.62 per common unit.

The distribution will be paid on November 7, 2003 to unit holders of record at the close of business on September 30, 2003.

Michael Staines, President and Chief Operating Officer stated: "We are pleased to be able to again increase our quarterly distribution. Gas throughput volumes averaged 53.7 million cubic feet per day compared to 52 million cubic feet per day transported during the second quarter's distribution period. Additionally, the gas price, on which our revenue is based, increased from approximately $5.35 per thousand cubic feet (mcf) in the second quarter to $5.80 per mcf during this third quarter."

Atlas Pipeline Partners, L.P. owns and operates more than 1,380 miles of natural gas gathering pipelines in western Pennsylvania, western New York 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 4,200 wells that are currently connected to the system. For more information, please contact investor relations at pschreiber@resourceamerica.com.

Resource America, Inc. (Nasdaq:REXI), the parent company of Atlas Pipeline Partners, L.P.'s general partner, is a proprietary asset management company that uses industry-specific expertise to generate and administer investment opportunities for its own account and for outside investors in the energy, real estate and equipment leasing industries.

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 many factors, including competition within the energy industry, climactic conditions, volatility in the price of gas, actual versus projected drilling activity, volumetric production from wells connected to the Partnership's gas-gathering pipeline system, and the cost of supplies and services in the energy industry.

COPYRIGHT 2003 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning