Atlas Pipeline Partners, L.P. Announces Expansion of the Partnership’s Risk Management Program

PHILADELPHIA--(BUSINESS WIRE)--Atlas Pipeline Partners, L.P. (NYSE: APL) ("APL" or the "Partnership") announced today the successful expansion of the Partnership’s risk management program. The Partnership has put in place additional coverage for its’ natural gas liquids (NGL) and condensate exposure that now represents 74% of expected 2011 NGL and condensate margin, including approximately 80% coverage for the first half of 2011. Further to this, additional coverage has been put in place for the Partnership’s natural gas exposure, which represents a much smaller percentage of overall margin than the NGL and condensate component of the business. Currently, approximately 61% of expected 2011 natural gas margin has been covered in the risk management program, including approximately 51% for the first half of 2011. When combined, 72% of overall margin coverage exists across these products for full year 2011. For the current year, implied price coverage exists for natural gas at $4.62/mmbtu, natural gas liquids (NGLs) at $1.42/gal (ex-ethane), and condensate at $86.00/bbl. The Partnership will continue to add protection as acceptable price points of the underlying commodity products present themselves.

“We are pleased to have added protection to our 2011 margins, particularly on the NGL and condensate part of our business. We have been rewarded with our patience as it relates to building out our risk management program, adding duration at price points that we believe are at attractive levels. Our discipline and overall strategy for managing the commodity price cycle has paid off and we will continue to look at adding more protection at attractive levels as they arise. Coupled with modifications in our contract mix, this protection will help stabilize distributable cash flow and lead to increased value for our unitholders,” stated Eugene Dubay, Chief Executive Officer of the Partnership.

Atlas Pipeline Partners, L.P. (NYSE: APL) is active in the gathering and processing segments of the midstream natural gas industry. In the Mid-Continent region of Oklahoma, southern Kansas, and northern and western Texas, APL owns and operates five active gas processing plants as well as approximately 8,300 miles of active intrastate gas gathering pipeline. For more information, visit the Partnership's website at www.atlaspipeline.com or contact IR@atlaspipeline.com.

Atlas Pipeline Holdings, L.P. (NYSE: AHD) is a limited partnership which owns and operates the general partner of Atlas Pipeline Partners, L.P., through which it owns a 2.0% general partner interest, all the incentive distribution rights and approximately 5.75 million common limited partner units of Atlas Pipeline Partners, L.P. (NYSE: APL).

Atlas Energy, Inc. (NASDAQ: ATLS) is one of the largest independent natural gas producers in the Appalachian and Michigan Basins, and a leading producer in the Marcellus Shale in Pennsylvania. Atlas Energy is also the country’s largest sponsor and manager of tax-advantaged energy investment partnerships. Atlas Energy controls and has a substantial economic interest in Atlas Pipeline Partners, L.P. (NYSE: APL) and Atlas Pipeline Holdings, L.P. (NYSE: AHD). For more information, please visit www.atlasenergy.com, or contact Investor Relations at InvestorRelations@atlasenergy.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. We do not undertake any duty to update any forward-looking statement except as required by law. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in commodity prices and local or national economic conditions and other risks detailed from time to time in the Partnership’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
Unaudited Current Commodity Hedge Positions through December 31, 2011
(as of January 19, 2011)

Note: The natural gas, natural gas liquid and condensate hedge positions shown below represent the hedge contracts in place through December 31, 2011. APL’s hedge position in its entirety, including any hedges for periods after December 31, 2011, will be disclosed in the Partnership’s Form 10-K.