Atlas Pipeline Partners, L.P. Accelerates Growth, Adds Margin Protection And Confirms Guidance

 Atlas Pipeline Partners, L.P. Accelerates Growth, Adds Margin Protection And
                              Confirms Guidance

-- Announces acceleration of WestTX 200 mmcfd Driver expansion to early 2013

-- Partnership enters into long-term POP deal with largest producer in
Mississippi Lime formation

-- Reaffirms 2013 Adjusted EBITDA guidance of $310-360 Million

PR Newswire

PHILADELPHIA, Jan. 14, 2013

PHILADELPHIA, Jan. 14, 2013 /PRNewswire/ --Atlas Pipeline Partners, L.P.
(NYSE: APL) ("APL", "Atlas Pipeline", or the "Partnership") announced today
that the Partnership is updating the timing of its WestTX expansion, the 200
Million cubic feet per day ("mmcfd") Driver cryogenic processing facility.
This facility was originally expected to come online in two phases with phase
one online in 1Q'13 and phase two online in 1Q'14, with each phase consisting
of 100 mmcfd of processing capacity. The Driver facility is now expected to
have the entire 200 mmcfd come online by the end of the first quarter or early
second quarter of 2013. Based on the continued volume growth from the
Partnership's producer customers in the Permian Basin, management expects to
utilize approximately 60% of the Driver facility's capacity at start-up and
anticipates steady growth in volumes throughout the year.

Management is also pleased to announce that the Partnership has entered into a
new contract with SandRidge Energy, Inc. ("SandRidge") (NYSE: SD). SandRidge
is currently the Partnership's largest producer customer in the Mississippian
Lime. The new agreement, a five year contract commencing January 1, 2013, is
extendable at the option of SandRidge to a nine year term if a minimum level
of throughput volume is met. It is a percent-of-proceeds (POP) contract,
complimented by additional fixed-fee gathering cash flow associated with
underlying throughput volumes from SandRidge. At the termination of the
existing contract, all volumes under that agreement will be transferred to
this new agreement, materially reducing the Partnership's keep-whole
exposure. In addition to the extension in tenor from the previous contract,
SandRidge has agreed to dedicate three additional areas in Southern Kansas,
including Harper, Sumner, and Cowley counties. Including the originally
dedicated areas within SandRidge's Oklahoma Mississippian position, the new
agreement now includes the majority of SandRidge's developed acreage within
the burgeoning Mississippi Lime formation.

"We are pleased to be announcing a new long term agreement with a key producer
in the Mississippi Lime as well as the acceleration of the start of the full
Driver plant in West Texas within the next couple of months. These positive
developments will secure future growth through our growing relationships with
our producer customers. Accordingly, we have added a significant amount of
further protection through our risk management program that will preserve
margin over the next several years. We will continue to pursue additional
value creation opportunities for the long term for our customers,
stakeholders, and employees", stated Eugene Dubay, Chief Executive Officer of
the Partnership.

As a result of this new POP agreement with SandRidge, the Partnership has
added significant natural gas protection to its risk management portfolio, as
well as continuing to elongate the program and adding further margin
protection through hedging activities. Atlas Pipeline now has 76% of expected
2013 margin protected (ex-ethane) and a full table of risk management
positions is included at the end of this release.

The Partnership is reaffirming its guidance for 2013 for Adjusted EBITDA of
$310 - $360 Million based on current commodity prices and management's volume
expectations. These forecasted amounts are based on various assumptions,
including, among others, the Partnership's expected cost and timing for
completion of its announced capital expenditure program, timing of incremental
volumes on its gathering and processing systems, known contract structures,
scheduled maintenance of facilities including those of third-parties that
impact the Partnership's operations, estimated interest rates, and budgeted
operating and general administrative costs. Management does not forecast
certain items, including GAAP revenues, depreciation, amortization, and
non-cash changes in derivatives, and therefore is unable to provide forecasted
Net Income, a comparable GAAP measure, for the periods presented. The
reconciling items between these non-GAAP measures and Net Income are expected
to be similar to those for the most recently completed quarterly period and
are not expected to be significant to the Partnership's cash flows.

ATLAS PIPELINE PARTNERS, L.P. AND SUBSIDIARIES
Unaudited Current Commodity Risk Management Positions
(as of January 9, 2013)
Note: The natural gas, natural gas liquid and condensate price risk management
positions shown below represent the contracts in place through December 31,
2015. NGL contracts are traded at Mt. Belvieu unless otherwise disclosed.
SWAP CONTRACTS
NATURAL GAS HEDGES
                                 Purchased                             Avg.
             Production Period   /Sold       Commodity     MMBTUs      Fixed
                                                                       Price
             2Q 2013             Sold        Natural gas   600,000     3.43
             3Q 2013             Sold        Natural gas   600,000     3.52
             4Q 2013             Sold        Natural gas   1,000,000   3.60
             1Q 2014             Sold        Natural gas   1,350,000   3.90
             2Q 2014             Sold        Natural gas   2,350,000   3.86
             3Q 2014             Sold        Natural gas   2,350,000   3.89
             4Q 2014             Sold        Natural gas   2,350,000   3.96
             1Q 2015             Sold        Natural gas   1,000,000   4.24
             2Q 2015             Sold        Natural gas   1,000,000   4.00
             3Q 2015             Sold        Natural gas   1,000,000   4.06
             4Q 2015             Sold        Natural gas   1,000,000   4.23
NATURAL GAS LIQUIDS HEDGES
                                 Purchased                             Avg.
             Production Period   /Sold       Commodity     Gallons     Fixed
                                                                       Price
             1Q 2013             Sold        Propane -     3,780,000   0.94
                                             Conway
             1Q 2013             Sold        Propane       9,072,000   1.22
             1Q 2013             Sold        Isobutane     504,000     1.86
             1Q 2013             Sold        Normal butane 1,134,000   1.66
             2Q 2013             Sold        Propane -     1,260,000   1.06
                                             Conway
             2Q 2013             Sold        Propane       10,836,000  1.27
             2Q 2013             Sold        Isobutane     630,000     1.77
             2Q 2013             Sold        Normal butane 1,260,000   1.66
             3Q 2013             Sold        Propane -     1,260,000   1.06
                                             Conway
             3Q 2013             Sold        Propane       11,718,000  1.28
             4Q 2013             Sold        Propane -     1,260,000   1.06
                                             Conway
             4Q 2013             Sold        Propane       12,222,000  1.28
             1Q 2014             Sold        Propane       6,930,000   1.02
             1Q 2014             Sold        Natural       1,260,000   2.08
                                             gasoline
             2Q 2014             Sold        Propane       3,780,000   1.00
             2Q 2014             Sold        Normal butane 1,260,000   1.50
             2Q 2014             Sold        Natural       2,520,000   1.92
                                             gasoline
             3Q 2014             Sold        Propane       3,780,000   1.00
             3Q 2014             Sold        Normal butane 1,260,000   1.50
             3Q 2014             Sold        Natural       1,890,000   1.92
                                             gasoline
             4Q 2014             Sold        Propane       3,780,000   1.00
             4Q 2014             Sold        Normal butane 1,260,000   1.53
             4Q 2014             Sold        Natural       1,890,000   1.93
                                             gasoline
             1Q 2015             Sold        Natural       630,000     1.97
                                             gasoline
             2Q 2015             Sold        Natural       630,000     1.97
                                             gasoline
             3Q 2015             Sold        Natural       630,000     1.97
                                             gasoline
             4Q 2015             Sold        Natural       630,000     1.97
                                             gasoline
CONDENSATE HEDGES
                                 Purchased                             Avg.
             Production Period   /Sold       Commodity     Barrels     Fixed
                                                                       Price
             1Q 2013             Sold        Crude         93,000      97.49
             2Q 2013             Sold        Crude         99,000      97.33
             3Q 2013             Sold        Crude         78,000      97.08
             4Q 2013             Sold        Crude         75,000      96.66
             1Q 2014             Sold        Crude         78,000      95.49
             2Q 2014             Sold        Crude         75,000      93.12
             3Q 2014             Sold        Crude         75,000      89.86
             4Q 2014             Sold        Crude         30,000      88.09
OPTION CONTRACTS
NGL OPTIONS
Production                                                             Avg.
Period       Purchased/Sold      Type        Commodity     Gallons     Strike
                                                                       Price
1Q 2013      Purchased           Put         Isobutane     504,000     1.79
1Q 2013      Purchased           Put         Normal Butane 1,512,000   1.74
1Q 2013      Purchased           Put         Natural       5,292,000   2.15
                                             Gasoline
2Q 2013      Purchased           Put         Isobutane     630,000     1.72
2Q 2013      Purchased           Put         Normal Butane 1,638,000   1.66
2Q 2013      Purchased           Put         Natural       5,796,000   2.10
                                             Gasoline
3Q 2013      Purchased           Put         Isobutane     1,512,000   1.66
3Q 2013      Purchased           Put         Normal Butane 3,528,000   1.64
3Q 2013      Purchased           Put         Natural       6,300,000   2.09
                                             Gasoline
4Q 2013      Purchased           Put         Isobutane     1,512,000   1.66
4Q 2013      Purchased           Put         Normal Butane 3,780,000   1.66
4Q 2013      Purchased           Put         Natural       6,552,000   2.09
                                             Gasoline
CRUDE OPTIONS
Production                                                             Avg.
Period       Purchased/Sold      Type        Commodity     Barrels     Strike
                                                                       Price
1Q 2013      Purchased           Put         Crude Oil     66,000      100.10
2Q 2013      Purchased           Put         Crude Oil     69,000      100.10
3Q 2013      Purchased           Put         Crude Oil     72,000      100.10
4Q 2013      Purchased           Put         Crude Oil     75,000      100.10
1Q 2014      Purchased           Put         Crude Oil     166,500     101.86
2Q 2014      Purchased           Put         Crude Oil     45,000      88.18
3Q 2014      Purchased           Put         Crude Oil     60,000      88.85
4Q 2014      Purchased           Put         Crude Oil     90,000      91.56
1Q 2015      Purchased           Put         Crude Oil     15,000      91.00
2Q 2015      Purchased           Put         Crude Oil     15,000      90.25
3Q 2015      Purchased           Put         Crude Oil     15,000      89.85
4Q 2015      Purchased           Put         Crude Oil     15,000      89.35

Atlas Pipeline Partners, L.P. (NYSE: APL) is active in the gathering and
processing segments of the midstream natural gas industry. In Oklahoma,
southern Kansas, northern and western Texas, and Tennessee, APL owns and
operates 12 active gas processing plants, 18 gas treating facilities as well
as approximately 10,100 miles of active intrastate gas gathering pipeline.
APL also has a 20% interest in West Texas LPG Pipeline Limited Partnership,
which is operated by Chevron Corporation. For more information, visit the
Partnership's website at www.atlaspipeline.com or contact
IR@atlaspipeline.com.

Atlas Energy, L.P. (NYSE: ATLS) is a master limited partnership which owns and
operates the general partner of its midstream oil & gas subsidiary, Atlas
Pipeline Partners, L.P., through all of the general partner interest, all the
incentive distribution rights and an approximate 9% limited partner interest.
Additionally, Atlas Energy owns all of the general partner Class A units and
incentive distribution rights and an approximate 44% limited partner interest
in its upstream oil & gas subsidiary, Atlas Resource Partners, L.P. For more
information, please visit the Partnership's website at 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.
Atlas Pipeline does not undertake any duty to update any statements contained
herein (including any forward-looking statements), 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 process and 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.

Contact: Matthew Skelly
         Vice President
         Investor Relations
         1845 Walnut Street
         Philadelphia, PA 19103
         (877) 950-7473
         (215) 561-5692 (facsimile)

SOURCE Atlas Pipeline Partners, L.P.

Website: http://www.atlaspipeline.com
Website: http://www.atlasenergy.com