Atlas Pipeline Partners, L.P. Announces Eugene N. Dubay as President and CEO

TULSA (BUSINESS WIRE) Jan. 15, 2009
Atlas Pipeline Mid-Continent, LLC. (NYSE:APL) announces today that it has appointed Eugene "Gene" N. Dubay as its President and Chief Executive Officer, replacing Robert Firth, who will now focus on strategic planning and opportunities in his continuing role as President and Chief Operating Officer of Atlas Pipeline Holdings GP, LLC.  Click Here for Details

Announcements of APL Distributions to Unitholders

Atlas Pipeline Partners, L.P. (“APL”) will announce cash distributions to its unitholders at the end of the month following the close of each quarter. We will issue a press release announcing the amount of the current distribution as well as the ex-dividend and pay dates at that time.

Company Objectives

Our objective is to increase cash flow, earnings and returns to our unitholders. We plan to accomplish this by expanding our revenue base through: the construction of extensions necessary to service additional wells drilled by Atlas Energy Resources, LLC (NYSE: ATN) and others in the Appalachia Basin; through organic growth of midstream energy assets such as natural gas gathering, transmission, processing and storage facilities and liquid gathering, transmission and storage facilities, particularly in the Mid-Continent region of Oklahoma and Texas; and by means of accretive acquisitions in these and other prospective regions. We also plan to continue to strengthen our balance sheet by financing our growth with a combination of long-term debt and equity to provide the financial flexibility for funding future opportunities. We believe that the extensive prior experience of our management team in the natural gas midstream business provides us with a competitive advantage in executing our growth strategy to achieve our business objectives.

Acquisition of Controlling Interest in Anadarko Assets

On July 27, 2007, APL acquired control of Anadarko Petroleum Corporation’s (NYSE: APC) (“Anadarko”) 100% interest in the Chaney Dell natural gas gathering system and processing plants located in Oklahoma and its 72.8% undivided joint venture interest in the Midkiff/Benedum natural gas gathering system and processing plants located in Texas. In connection with the Partnership’s acquisition of control of the Chaney Dell and Midkiff/Benedum systems, the joint ventures issued cash to Anadarko of $1.9 billion.

The Midkiff/Benedum joint venture has a 72.8% undivided joint venture interest in the Midkiff/Benedum system, of which the remaining 27.2% interest is owned by Pioneer Natural Resources Company (NYSE: PXD) (“Pioneer”).

Business Overview

Atlas Pipeline Partners, L.P. is a master limited partnership with common units traded on the New York Stock Exchange under the symbol “APL”. In January 2000, APL completed its initial public offering of 1.5 million of its common units at a price of $13.00 and subsequently acquired the gas gathering operations of Atlas America, Inc. (NASDAQ:ATLS) and its affiliates, located in the Appalachian Basin. Currently, in Appalachia, we gather natural gas through our pipeline system from more than 6,500 wells on over 1,600 miles of gathering systems for delivery to a variety of customers on major intra-and/or interstate pipeline systems and a limited number of direct end-users. This transported gas is primarily controlled by Atlas Energy Resources.

In the Mid-Continent region, APL owns and operates approximately 565 miles of FERC regulated interstate pipeline and 7,900 miles of gas gathering pipeline. Currently, APL has daily natural gas throughput of over 1.1 billion cubic feet (bcf) per day amongst its gathering, processing and transportation systems. APL transports approximately 510 million cubic feet of gas per day from more than 1,250 receipt points and wells to its gas processing and treating facilities in northern and western Oklahoma and western Texas, where natural gas liquids (NGL) and impurities are removed. APL then sells the processed residue gas and NGLs and remits a portion of those proceeds to the producer. In the Mid-Continent and in Appalachia, the fees paid to APL are based on a percentage of the gross selling price of the gas or NGL, fixed fee per mcf transported or on percent of index.

Our Mid-Continent operations began in July 2004, when APL acquired Spectrum Field Services, Inc. (“Spectrum”), for approximately $143.1 million, including transaction costs. Spectrum’s principal assets included 1,900 miles of natural gas pipelines and a natural gas processing facility in Velma, Oklahoma.

Relationship with Affiliated Atlas Companies.

Atlas America Inc.

Atlas America, Inc. owns ~ 64% of the limited partner common interest in Atlas Pipeline Partners, L.P.'s general partner, Atlas Pipeline Holdings, L.P. (NYSE: AHD). Atlas America also owns 48% of the common interest and all of the management incentive interests in Atlas Energy Resources, for which APL gathers most of the gas produced by Atlas Energy in Appalachia.

Under our transportation agreement with Atlas America, through Atlas Energy, the gathering fees we receives are equal to a percentage of the gross or weighted average sales price of the natural gas we transport. Our business therefore depends in large part upon the volume of gas we transmit and the prices at which the natural gas we transport is sold.

Atlas Pipeline Holdings, L.P.

Atlas Pipeline Holdings, L.P. (NYSE: AHD) owns 100% of our general partner interest, which includes all of the incentive distribution rights as well as an additional 5.5 million units of limited partner interest (or ~ 14%) in APL. For more information, please visit our website at www.atlaspipelineholdings.com, or contact Investor Relations at bbegley@atlasamerica.com.

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Atlas Pipeline Partners
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(APL) Atlas Pipeline Pa
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