Atlas Pipeline Partners, L.P. Reports First Quarter 2009 Results

PHILADELPHIA--(Business Wire)--
Atlas Pipeline Partners, L.P. (NYSE: APL) ("APL" or the "Partnership") today
reported financial results for the first quarter 2009.

The results of the first quarter 2009 include:

* Adjusted earnings before interest, income taxes, depreciation and amortization
("Adjusted EBITDA"), a non-GAAP measure, of $70.6 million, compared to $73.3
million for the prior year comparable quarter. A reconciliation of non-GAAP
measures, including adjusted EBITDA, distributable cash flow and adjusted net
income, is provided within the financial tables of this release;
* Distributable cash flow, a non-GAAP measure, of $48.9 million, compared to
$51.8 million for the prior year comparable quarter. The Partnership declared a
quarterly cash distribution for the first quarter 2009 of $0.15 per common
limited partner unit;
* Adjusted net income, a non-GAAP measure, of $25.2 million, compared to $29.2
million for the prior year comparable quarter. After including the non-recurring
derivative losses recognized in the current quarter as described below, on a
GAAP basis the Partnership recognized a net loss of $23.2 million for the first
quarter 2009 compared with a net loss of $43.7 million for the prior year first
quarter; and
* System-wide volumes of 1,357.8 million cubic feet per day ("Mmcfd") for the
first quarter 2009 compared to volumes of approximately 1,227.7 Mmcfd for the
prior year comparable quarter, an increase of approximately 11%.

During the first quarter 2009, Partnership generated $24.5 million of benefit
from the following actions:

* The Partnership entered into early settlement arrangements on certain
commodity hedge contracts covering second quarter 2009 natural gas liquids (NGL)
and condensate production volumes. The Partnership received approximately $19.5
million in net proceeds from these early settlements concluded in February 2009.
The net proceeds from these settlements were used to reduce outstanding
indebtedness. A summary of the Partnership`s commodity hedge position is
included at the end of this release; and
* The Partnership recognized a $5.0 million benefit resulting from the early
termination of certain derivative positions.

Recent Events

Sale of NOARK System

On April 7, 2009, the Partnership entered into a definitive agreement with
Spectra Energy Partners, LP to sell its NOARK natural gas gathering and
interstate transmission system ("NOARK") for approximately $300.0 million in
cash. The transaction closed on May 4, 2009 and the Partnership used the net
proceeds from the transaction to reduce borrowings under its senior secured term
loan and credit facility.

Appalachia Joint Venture Agreement

On March 31, 2009, the Partnership entered into an agreement with a subsidiary
of Williams (NYSE: WMB - "Williams") to form a joint venture, Laurel Mountain
Midstream, LLC (the "joint venture"), which will own and operate the
Partnership`s Appalachia Basin natural gas gathering system, which include
gathering and processing assets in the Marcellus Shale region in southwestern
Pennsylvania, and excludes the Partnership`s northern Tennessee operations. The
Partnership will receive approximately $90.0 million in cash, a preferred equity
right to proceeds under a $25.5 million obligation (the "Obligation") from
Williams, and a 49% equity interest in the joint venture. The Obligation
amortizes in equal principal installments over a three-year period following the
closing of the transaction, and the right to receive accrued principal and
interest can be converted at the Partnership`s option into an equivalent sum to
pay joint venture capital expenditures the Partnership would otherwise be
required to fund under the joint venture agreement. The agreement assesses the
initial enterprise value of the system in Pennsylvania, New York, Ohio and West
Virginia at $250.0 million. The new joint venture intends to be the leading
gathering system in the southwestern Pennsylvania portion of the Marcellus
Shale. Although the system will be operated on a day-to-day basis by Williams,
all important decisions will be made jointly by the Partnership and Williams.
The transaction is expected to close during the second quarter of 2009. The
Partnership will use the $90.0 million of net proceeds from the transaction to
reduce borrowings under its senior secured credit facility.

Mid-Continent Segment Results

* Mid-Continent segment total revenue for the first quarter 2009 decreased to
$228.4 million, or approximately 38% compared with the prior year comparable
quarter, excluding the effect of non-cash derivative expenses and the
non-recurring cash derivative early termination expense. This decrease
principally relates to lower average realized commodity prices, partially offset
by system-wide increases in volumes.
* The Elk City/Sweetwater system`s average natural gas processed volume
increased to 253.9 MMcfd for the first quarter 2009, an increase of over 7% when
compared with the prior year comparable quarter. Average natural gas liquid
("NGL") production increased by 1,042 barrels per day ("bpd") for the first
quarter 2009, or approximately 10%, when compared with the prior year comparable
quarter due to increases in plant production efficiency.
* The Velma system`s average natural gas processed volume was 63.9 MMcfd for the
first quarter 2009, an increase of approximately 7% when compared with the prior
year comparable quarter.
* The Chaney Dell system`s average natural gas processed volume for the first
quarter 2009 was 227.9 MMcfd. Average NGL production volumes increased to 15,531
bpd, or over 25%, when compared to the prior year first comparable due to
increases in plant production efficiency.
* The Midkiff/Benedum system`s average natural gas processed volume was 146.1
MMcfd for the first quarter 2009, an increase of approximately 7% when compared
with the prior year comparable quarter. Average NGL production volumes increased
to 22,650 bpd, or over 11% when compared to the prior year comparable quarter
due to increases in plant production efficiency.
* The NOARK Ozark Gas Transmission system`s throughput volume for first quarter
2009 increased to 482.5 MMcfd, or 24%, compared with the prior year first
quarter.

Appalachia Segment Results

* Total revenue for the Appalachia segment increased to $10.9 million for the
first quarter 2009, or approximately 4%, compared with $10.5 million the prior
year comparable quarter due principally to higher throughput volume generated
through new wells connected to the Partnership`s gathering system, partially
offset by a lower average transportation rate in comparison with the prior year
comparable quarter due to lower average commodity prices.
* Throughput volume increased to a record 98.5 MMcfd for the first quarter 2009,
an increase of over 30% when compared with the prior year first quarter,
resulting from the connection of new wells to the Appalachia gathering system,
primarily through its relationship with its affiliate, Atlas Energy Resources,
LLC (NYSE: ATN).

Corporate and Other

* General and administrative expense, including amounts reimbursed to
affiliates, increased $5.5 million to $11.0 million for first quarter 2009 when
compared with $5.5 million for the prior year comparable quarter. This increase
was primarily related to $2.8 million of non-recurring severance and other
related costs incurred during the first quarter of 2009 in the Mid-Continent
segment, and the absence of a $2.8 million non-cash compensation gain recognized
during the first quarter 2008 principally associated with the vesting of certain
common unit awards.
* Depreciation and amortization increased $2.8 million to $24.7 million for the
first quarter 2009 when compared with the prior year first quarter due primarily
to the expansion of the Partnership`s systems subsequent to March 31, 2008.
* Interest expense increased to $21.1 million for the first quarter 2009
compared with $20.4 million for the prior year comparable quarter. This increase
was primarily due to a $4.9 million increase in interest expense associated with
the Partnership`s additional senior notes issued during June 2008, primarily
offset by a $4.9 million decrease due to the repayment of $122.8 million of term
loan indebtedness during June 2008 and lower floating interest rates.
* At March 31, 2009, the Partnership had $1,525.4 million of total debt,
including $707.2 million outstanding on its term loan that matures in 2014,
$494.2 million of senior unsecured notes that mature in 2015 and 2018, and
$324.0 million of outstanding borrowings under its revolving credit facility
that matures in 2013. The Partnership also has interest rate swap contracts for
a notional principal amount totaling $450.0 million which expire during the
first half of 2010. These contracts convert a portion of the Partnership`s
LIBOR-based floating rate exposure under its term loan and revolving credit
facility to a fixed LIBOR rate averaging 3.02%, plus the applicable margin as
defined under the terms credit facility.

Interested parties are invited to access the live webcast of an investor call
with management regarding the Partnership`s first quarter 2009 results on
Monday, May 11, 2009 at 11:00 am ET by going to the Investor Relations section
of the Partnership`s website at www.atlaspipelinepartners.com. An audio replay
of the conference call will also be available beginning at 1:00 pm ET on Monday,
May 11, 2009. To access the replay, dial 1-888-286-8010 and enter conference
code 88421178.

Atlas Pipeline Partners, L.P. is active in the transmission, gathering and
processing segments of the midstream natural gas industry. In the Mid-Continent
region of Oklahoma, southern Kansas, northern and western Texas and the Texas
panhandle, APL owns and operates eight active gas processing plants and a
treating facility, as well as approximately 8,750 miles of active intrastate gas
gathering pipeline. In Appalachia, it owns and operates approximately 1,800
miles of natural gas gathering pipelines in western Pennsylvania, western New
York, eastern Ohio and northeastern Tennessee. For more information, visit the
Partnership`s website at www.atlaspipelinepartners.com or contact
InvestorRelations@atlaspipelinepartners.com.

Atlas Pipeline Holdings, L.P. is a limited partnership which owns and operates
the general partner of Atlas Pipeline Partners, L.P., through which it owns a 2%
general partner interest, all the incentive distribution rights and
approximately 5.8 million common and 15,000 $1,000 par value 12% preferred
limited partner units of Atlas Pipeline Partners, L.P.

Atlas Energy Resources, LLC is one of the largest independent natural gas
producers in the Appalachian and Michigan Basins. The Company is also the
country`s largest sponsor and manager of tax-advantaged energy investment
partnerships that finance the exploration and development of the Company`s
acreage. For more information, visit Atlas Energy`s website at
www.atlasenergyresources.com or contact investor relations at
InvestorRelations@atlasamerica.com.

Atlas America, Inc. owns approximately 48% of the Class B common unit interests
and all of the management incentive interests in Atlas Energy Resources, LLC.
Atlas America, Inc. also owns 1.1 million common units in Atlas Pipeline
Partners, L.P. and a 64% interest in Atlas Pipeline Holdings, L.P., a limited
partnership which owns the general partner interest, all the incentive
distribution rights and 5.8 million common units of Atlas Pipeline Partners,
L.P. For more information, please visit our website at www.atlasamerica.com, or
contact Investor Relations at InvestorRelations@atlasamerica.com.

Certain matters discussed within this press release are forward-looking
statements.Although Atlas Pipeline Partners, L.P. believes the expectations
reflected in such forward-looking statements are based on reasonable
assumptions, it can give no assurance that its expectations will be
attained.Factors that could cause actual results to differ materially from
expectations include financial performance, inability of the Partnership to
successfully integrate the operations at the acquired systems, regulatory
changes, changes in local or national economic conditions and other risks
detailed from time to time in Atlas Pipeline`s reports filed with the SEC,
including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports
on Form 10-K.

ATLAS PIPELINE PARTNERS, L.P. AND SUBSIDIARIES
Financial Summary
(unaudited; in thousands, except per unit amounts)

Three Months Ended
March 31,
STATEMENTS 2009 2008
OF
OPERATIONS

Revenue:
Natural gas $ 158,618 $ 366,119
and liquids
Transportat 10,068 9,159
ion,
compression
, and other
fees -
affiliates
Transportat 16,412 14,862
ion,
compression
, and other
fees -
third
parties
Other 5,148 (86,754)
income
(loss), net
Total 190,246 303,386
revenue and
other
income
(loss), net

Costs and
expenses:
Natural gas 138,059 276,664
and liquids
Plant 13,823 14,935
operating
Transportat 4,767 3,812
ion and
compression
General and 10,644 4,370
administrat
ive
Compensatio 375 1,129
n
reimburseme
nt -
affiliates
Asset − 3,981
impairment
Depreciatio 24,680 21,844
n and
amortizatio
n
Interest 21,134 20,381
Total costs 213,482 347,116
and
expenses

Net loss (23,236) (43,730)
Loss (469) (2,090)
attributabl
e to non
-controllin
g interests
Preferred (900) (137)
unit
dividends
Preferred − (505)
unit
imputed
dividend
cost
Net loss $ (24,605) $ (46,462)
attributabl
e to common
limited
partners
and the
general
partner

Allocation
of net loss
attributabl
e to common
limited
partners

and the
general
partner:
Common $ (24,110) $ (52,387)
limited
partners`
interest
General (495) 5,925
partner`s
interest
Net loss $ (24,605) $ (46,462)
attributabl
e to common
limited
partners
and the
general
partner

Net loss attributable to common limited partners per
unit:
Basic and $ (0.52) $ (1.35)
Diluted

Weighted
average
common
limited
partner
units
outstanding
:
Basic and 45,971 38,763
Diluted

Capital
expenditure
data:
Maintenance $ 695 $ 1,619
capital
expenditure
s
Expansion 72,218 82,450
capital
expenditure
s
Total $ 72,913 $ 84,069

Balance March 31, December 31,
Sheet Data
2009
2008
(at period
end):
Cash and $ 1,912 $ 1,520
cash
equivalents
Total 2,382,231 2,413,196
assets
Total debt 1,525,403 1,493,427
Total 607,862 650,842
partners`
capital

ATLAS PIPELINE PARTNERS, L.P. AND SUBSIDIARIES
Segment Information
(in thousands)

Three Months Ended

March 31,
2009 2008
Mid-Continent
Revenue:
Natural gas and liquids $ 158,247 $ 365,159
Transportation, compression, and other fees 16,031 14,615
Other income (loss), net 5,075 (86,865 )
Total revenue and other income (loss), net 179,353 292,909

Costs and expenses:
Natural gas and liquids 137,870 276,182
Plant operating 13,823 14,935
Transportation and compression 1,436 1,498
General and administrative 8,655 2,530
Asset impairment − 3,981
Depreciation and amortization 22,761 20,462
Total costs and expenses 184,545 319,588
Segment loss $ (5,192 ) $ (26,679 )

Appalachia
Revenue:
Natural gas and liquids $ 371 $ 960
Transportation, compression, and other fees - affiliates 10,068 9,159
Transportation, compression, and other fees - third parties 381 247
Other income, net 73 111
Total revenue and other income, net 10,893 10,477

Costs and expenses:
Natural gas and liquids 189 482
Transportation and compression 3,331 2,314
General and administrative 1,182 1,484
Depreciation and amortization 1,919 1,382
Total costs and expenses 6,621 5,662
Segment profit $ 4,272 $ 4,815

Reconciliation of segment profit (loss) to net loss:
Segment profit (loss):
Mid-Continent $ (5,192 ) $ (26,679 )
Appalachia 4,272 4,815
Total segment loss (920 ) (21,864 )
Corporate general and administrative expense (1,182 ) (1,485 )
Interest expense (21,134 ) (20,381 )
Net loss $ (23,236 ) $ (43,730 )

ATLAS PIPELINE PARTNERS, L.P. AND SUBSIDIARIES
(unaudited; in thousands, except per unit amounts)

Three Months Ended

March 31,
2009 2008
Reconciliatio
n of total
revenue and
other income
(loss), net
to adjusted
total revenue
and other
income
(loss),
net(1):
Total revenue $ 190,246 $ 303,386
and other
income
(loss), net
Non-cash 44,018 76,856
derivative
expense
Early 5,000 −
termination
cash
derivative
expense(2)
Adjusted $ 239,264 $ 380,242
total revenue
and other
income
(loss), net

Reconciliatio
n of net loss
to adjusted
net
income(1):
Net loss $ (23,236 ) $ (43,730 )
Non-cash 44,018 76,856
derivative
expense
Early 5,000 −
termination
cash
derivative
expense(2)
Non-cash (469 ) (1,141 )
linefill gain
(3)
Non-cash (93 ) (2,795 )
compensation
income
Adjusted net 25,220 29,190
income
Loss (469 ) (2,090 )
attributable
to non
-controlling
interests
Preferred (900 ) (137 )
unit
dividends
Preferred (− ) (505 )
unit imputed
dividend cost
Adjusted net $ 23,851 $ 26,458
income
attributable
to common
limited
partners and
the general
partner

Allocation of
adjusted net
income
attributable
to common
limited
partners and
the general
partner:
Common $ 23,372 $ 19,067
limited
partners`
interest
General 479 7,391
partner`s
interest
Adjusted net $ 23,851 $ 26,458
income
attributable
to common
limited
partners and
the general
partner

Adjusted net
income
attributable
to common
limited
partners per
unit:
Basic $ 0.51 $ 0.49
Diluted $ 0.46 $ 0.48

Weighted average common limited partner units outstanding:
Basic 45,971 38,763
Diluted 50,256 39,735

See footnotes on page 8 of this earnings release.

ATLAS PIPELINE PARTNERS, L.P. AND SUBSIDIARIES
(unaudited; in thousands, except per unit amounts)

Three Months Ended

March 31,
2009 2008
Reconciliation of net loss to other non-GAAP measures(1):
Net loss $ (23,236 ) $ (43,730 )
Loss attributable to non-controlling interests (469 ) (2,090 )
Asset impairment − 3,981
Depreciation and amortization 24,680 21,844
Interest expense 21,134 20,381
EBITDA 22,109 386
Non-cash derivative expense 44,018 76,856
Early termination cash derivative expense(2) 5,000 −
Non-cash linefill gain(3) (469 ) (1,141 )
Non-cash compensation income (93 ) (2,795 )
Adjusted EBITDA 70,565 73,306
Interest expense (21,134 ) (20,381 )
Amortization of deferred financing costs 1,017 679
Preferred unit dividends (900 ) (137 )
Maintenance capital expenditures (695 ) (1,619 )
Distributable cash flow $ 48,853 $ 51,848

(1) Adjusted net income, adjusted total revenue and other income (loss), net,
EBITDA, adjusted EBITDA and distributable cash flow are non-GAAP (generally
accepted accounting principles) financial measures under the rules of the
Securities and Exchange Commission. Management of the Partnership believes that
adjusted net income, adjusted total revenue and other income (loss), net,
EBITDA, adjusted EBITDA and distributable cash flow provide additional
information for evaluating the Partnership`s ability to make distributions to
its common unitholders and the general partner, among other things. These
measures are widely used by commercial banks, investment bankers, rating
agencies and investors in evaluating performance relative to peers and pre-set
performance standards. EBITDA and adjusted EBITDA are also financial
measurements that, with certain negotiated adjustments, are utilized within the
Partnership`s financial covenants under its credit facility. Adjusted net
income, adjusted total revenue and other income (loss), net, EBITDA, adjusted
EBITDA and distributable cash flow are not measures of financial performance
under GAAP and, accordingly, should not be considered as a substitute for net
income, total revenue and other income (loss), net, operating income, or cash
flows from operating activities in accordance with GAAP.

(2) During the three months ended March 31, 2009, the Partnership made net
payments of $5.0 million related to the early termination of derivative
contracts for second quarter 2009 production periods. These payments were funded
through the Partnership`s March 2009 issuance of 5,000 12.0% convertible
preferred units of limited partner interests to Atlas Pipeline Holdings, L.P.
(NYSE: AHD), the owner of the Partnership`s general partner, for cash
consideration of $1,000 per preferred unit. The Partnership had previously
entered into an amendment to its credit facility to revise the definition of
Consolidated EBITDA to allow for the add-back of charges relating to the early
termination of certain derivative contracts for debt covenant calculation
purposes when the early termination of derivative contracts is funded through
the issuance of equity.

(3) Includes the non-cash impact of commodity price movements on pipeline
linefill inventory.

ATLAS PIPELINE PARTNERS, L.P. AND SUBSIDIARIES
Operating Highlights

Three Months Ended

March 31,
2009 2008
Mid-Continent - Velma System(1)
NaturalGas
Gross natural gas gathered - mcfd 65,955 62,400
Gross natural gas processed - mcfd 63,875 59,867
Gross residue natural gas - mcfd 50,173 47,138
Natural Gas Liquids
Gross NGL sales - bpd 7,035 6,688
Condensate
Gross condensate sales - bpd 345 254

Mid-Continent - Elk City/Sweetwater System(1)
Natural Gas
Gross natural gas gathered - mcfd 253,878 305,377
Gross natural gas processed - mcfd 253,918 236,403
Gross residue natural gas - mcfd 232,038 213,130
Natural Gas Liquids
Gross NGL sales - bpd 11,719 10,677
Condensate
Gross condensate sales - bpd 529 363

Mid-Continent - Chaney Dell System(1)
Natural Gas
Gross natural gas gathered - mcfd 303,022 251,487
Gross natural gas processed - mcfd 227,855 247,861
Gross residue natural gas - mcfd 255,976 220,194
Natural Gas Liquids
Gross NGL sales - bpd 15,531 12,401
Condensate
Gross condensate sales - bpd 927 707

Mid-Continent - Midkiff/Benedum System(1)
Natural Gas
Gross natural gas gathered - mcfd 153,978 142,542
Gross natural gas processed - mcfd 146,055 136,654
Gross residue natural gas - mcfd 105,238 96,612
Natural Gas Liquids
Gross NGL sales - bpd 22,650 20,349
Condensate
Gross condensate sales - bpd 789 720

Mid-Continent - NOARK system(1)
Ozark Gas Transmission throughput - mcfd 482,471 390,293

Appalachia(1)
Throughput - mcfd 98,529 75,632

(1) "Mcf" represents thousand cubic feet; "Mcfd" represents thousand cubic feet
per day; "Bpd" represents barrels per day.

ATLAS PIPELINE PARTNERS, L.P. AND SUBSIDIARIES
Current Hedge Positions
(as of April 27, 2009)

Interest Fixed-Rate Swap
Notional
Term Amount Type
January 2008-
January 2010 $200,000,000 Pay 2.88% -Receive LIBOR

April 2008-
April 2010 $250,000,000 Pay 3.14% -Receive LIBOR

Natural Gas Liquids Sales - Fixed Price Swaps
Production Period Average
Ended December 31, Volumes Fixed Price
(gallons) (per gallon)
2009 13,230,000 $ 0.745

Crude Oil Sales Options (associated with NGL volume)
Production Period Associated Average
Ended Crude NGL Crude
December 31, Volume Volume Strike Price Option Type

(barrels)
(gallons)
(per barrel)
2009 152,100 13,542,984 $ 111.53 Puts sold(1)
2009 152,100 13,542,984 $ 157.82 Calls purchased(1)
2009 1,588,500 88,643,058 $ 84.69 Calls sold
2010 3,127,500 213,088,050 $ 86.20 Calls sold
2010 714,000 45,415,440 $ 132.17 Calls purchased(1)
2011 606,000 33,145,560 $ 100.70 Calls sold
2011 252,000 13,547,520 $ 133.16 Calls purchased(1)
2012 450,000 25,893,000 $ 102.71 Calls sold
2012 180,000 9,676,800 $ 134.27 Calls purchased(1)

Natural Gas Sales - Fixed Price Swaps
Production Period Average
Ended December 31, Volumes Fixed Price
(mmbtu)(2) (per mmbtu)(2)
2009 4,293,000 $ 8.611
2010 4,560,000 $ 8.526
2011 2,160,000 $ 8.270
2012 1,560,000 $ 8.250

Natural Gas Basis Sales
Production Period Average
Ended December 31, Volumes Fixed Price
(mmbtu)(2) (per mmbtu)(2)
2009 4,293,000 $ (0.558 )
2010 3,420,000 $ (0.606 )
2011 1,200,000 $ (0.700 )
2012 1,200,000 $ (0.610 )

Natural Gas Purchases - Fixed Price Swaps
Production Period Average
Ended December 31, Volumes Fixed Price
(mmbtu)(2) (per mmbtu)(2)
2009 11,673,000 $ 8.680
2010 8,940,000 $ 8.580
2011 2,160,000 $ 8.270
2012 1,560,000 $ 8.250

Natural Gas Basis Purchases
Production Period Average
Ended December 31, Volumes Fixed Price
(mmbtu)(2) (per mmbtu)(2)
2009 11,673,000 $ (0.654 )
2010 7,800,000 $ (0.576 )
2011 1,200,000 $ (0.700 )
2012 1,200,000 $ (0.610 )

Ethane Put Options
Production Period
Ended Average
December 31, Volume Strike Price Option Type

(gallons)
(per gallon)
2009 630,000 $ 0.340 Puts purchased

Isobutane Put Options
Production Period
Ended Average
December 31, Volume Strike Price Option Type

(gallons)
(per gallon)
2009 126,000 $ 0.589 Puts purchased

Normal Butane Put Options
Production Period
Ended Average
December 31, Volume Strike Price Option Type

(gallons)
(per gallon)
2009 126,000 $ 0.577 Puts purchased

Natural Gasoline Put Options
Production Period
Ended Average
December 31, Volume Strike Price Option Type

(gallons)
(per gallon)
2009 126,000 $ 0.762 Puts purchased

Crude Oil Sales
Production Period Average
Ended December 31, Volumes Fixed Price
(barrels) (per barrel)
2009 24,000 $ 62.700

Crude Oil Sales Options
Production Period Average
Ended December 31, Volumes Strike Price Option Type
(barrels) (per barrel)
2009 229,500 $ 84.802 Calls sold
2010 234,000 $ 88.088 Calls sold
2011 72,000 $ 93.109 Calls sold
2012 48,000 $ 90.314 Calls sold

___________________________

(1) Puts sold and calls purchased for 2009 represent collars entered into by the
Partnership as offsetting positions for the calls sold related to ethane and
propane production. In addition, calls were purchased for 2010 through 2012 to
offset positions for calls sold. These offsetting positions were entered into to
limit the loss which could be incurred if crude oil prices continued to rise.

(2) Mmbtu represents million British Thermal Units.

Atlas Pipeline Partners, L.P.
Vice President, Investor Relations
Brian J. Begley, 215-546-5005
Fax: 215-553-8455

Copyright Business Wire 2009