-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, G77N2bbuV/Yh7zHH41uAHHOVu5wJLHF7aYnQkZIY7pOFGTvqyhfpa514cX/BiVlu wuQGwF8K522GRmRIoqksZQ== /in/edgar/work/20000814/0000912057-00-037018/0000912057-00-037018.txt : 20000921 0000912057-00-037018.hdr.sgml : 20000921 ACCESSION NUMBER: 0000912057-00-037018 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000630 FILED AS OF DATE: 20000814 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ATLAS ENERGY FOR THE NINETIES PUBLIC NO 6 LTD CENTRAL INDEX KEY: 0001042413 STANDARD INDUSTRIAL CLASSIFICATION: [1311 ] IRS NUMBER: 232888337 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10QSB SEC ACT: SEC FILE NUMBER: 333-31681 FILM NUMBER: 696921 BUSINESS ADDRESS: STREET 1: 311 ROUSER ROAD CITY: MOON TOWNSHIP STATE: PA ZIP: 15108 BUSINESS PHONE: 4122622830 MAIL ADDRESS: STREET 1: 311 ROUSER RD CITY: MOON TOWNSHIP STATE: PA ZIP: 15108 10QSB 1 a10qsb.txt FORM 10-QSB U.S. Securities and Exchange Commission Washington, D.C. 20549 Form 10-QSB (Mark One) [ X ] QUARTERLY REPORT PURSUANT SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2000 [ ] TRANSITION REPORT PURSUANT SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number 333-31681 Atlas-Energy for the Nineties-Public #6 Ltd. (Name of small business issuer in its charter) Pennsylvania 23-2888337 (State or other jurisdiction of (I.R.S. Employer identification No.) incorporated or organization) 311 Rouser Road, Moon Township, Pennsylvania 15108 (Address of principal executive offices) (Zip Code) Issuer's telephone (412) 262-2830 (Former name, former address and former fiscal year, if changed since last report) Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No Transitional Small Business Disclosure Format (check one): Yes X No =============================================================================== PART I Item 1. Financial Statements The unaudited Financial Statements of Atlas-Energy for the Nineties-Public #6 Ltd. (the "Partnership") for the period January 1, 2000 to June 30, 2000. Item 2. Description of Business The Partnership has placed into production 44.45 net wells to the Clinton/Medina formation in Mercer and Lawrence Counties, Pennsylvania. As of June 30, 2000, all 44.45 net wells are in production. The first quarterly distribution was on June 8, 1998 for natural gas production during January, February and March, 1998. Natural gas sales revenue for the three months was $336,857 which includes landowner royalties. Expenses for this period include $75.00 per month per well for administrative costs and $275.00 per month per well for pumpers fees. For the next twelve months management believes that the Partnership has adequate capital. No other wells will be drilled and, therefore, no additional funds will be required. Although management does not anticipate that the Partnership will have to do so, any additional funds which may be required will be obtained from production revenues from Partnership wells or from borrowings by the Partnership from Atlas or its affiliates, although Atlas is not contractually committed to make such a loan. No borrowings will be obtained from third parties. PART II Item 1. Legal Proceeding None Item 2. Changes in Securities None Item 3. Defaults Upon Senior Securities None Item 4. Submission of Matters to a Vote of Securities Holders None Item 5. Other Matters None Item 6. Reports on Form 8-K The registrant filed no reports on Form 8-K during the last quarter of the period covered by this report. 10-Aug-00 ATLAS-ENERGY FOR THE NINETIES--PUBLIC #6 LTD. A PENNSYLVANIA LIMITED PARTNERSHIP BALANCE SHEET AS OF JUNE 30, 2000 and DECEMBER 31, 1999
JUNE 30 2000 December 31 Increase (unaudited) 1999 (Decrease) ------------------------------------------------------- ASSETS CURRENT ASSETS Cash $ 18,640 $ 14,662 $ 3,978 Accounts receivable 291,868 298,026 (6,158) -------------------- ------------- -------------- TOTAL CURRENT ASSETS 310,508 312,688 (2,180) Oil and gas drilling contracts/leases,net of accum. depl. & amort. 7,596,362 7,982,685 (386,323) -------------------- ------------- -------------- TOTAL ASSETS $ 7,906,870 $ 8,295,373 $ (388,503) ===================================================== LIABILITIES AND PARTNERS' CAPITAL Accounts payable $ 30,730 $ 14,775 $ 15,955 Partners' capital 7,876,140 8,280,598 (404,458) -------------------- ------------- -------------- TOTAL LIABILITIES AND PARTNERS' CAPITAL $ 7,906,870 $ 8,295,373 $ (388,503) =====================================================
The notes to Financial Statements are an integral part of this statement. ATLAS-ENERGY FOR THE NINETIES--PUBLIC #6 LTD. A PENNSYLVANIA LIMITED PARTNERSHIP STATEMENT OF INCOME (Unaudited) FOR THE SIX MONTHS ENDED JUNE 30, 2000 AND 1999
Six Months Ended Second Quarter Ended June 30 June 30 June 30 June 30 REVENUE 2000 1999 2000 1999 ------------------------------- -------------------------------- Natural gas sales $668,269 $754,372 $336,857 $354,973 Interest income 7,100 5,312 4,796 2,145 ------------- ----------- ------------- --------------- Total Revenue 675,369 759,684 341,653 357,118 EXPENSES Well operating expense 97,176 96,320 44,989 46,743 Depletion and depreciation of oil and gas wells and leases 386,323 581,206 188,845 266,746 General and administrative fees 19,815 19,290 9,889 10,189 Professional fees 16,398 7,895 16,398 3,645 Other 543 798 362 501 ------------- ----------- ------------- --------------- Total Expenses 520,255 705,509 260,483 327,824 ------------- ----------- ------------- --------------- Net Earnings $ 155,114 $ 54,175 $ 81,170 $ 29,294 ============= =========== ============= ===============
The notes to Financial Statements are an integral part of this statement. ATLAS-ENERGY FOR THE NINETIES--PUBLIC #6 LTD. A PENNSYLVANIA LIMITED PARTNERSHIP STATEMENT OF CASH FLOWS (Unaudited) FOR THE SIX MONTHS ENDED JUNE 30, 2000 AND 1999
Six Months Ended June 30 Increase (Decrease) in Cash 2000 1999 ----------------------------------------- Cash flows from operating activities Net Earnings $ 155,114 $54,175 Adjustments to reconcile net earnings to net cash provided by operating activities: Depletion and depreciation 386,323 581,206 Decrease in accounts receivable 6,158 135,995 Increase in accounts payable 15,955 706 ---------- ---------- Cash provided by operating activities 563,550 772,082 Cash flows used in financing activities: Distributions to Partners (559,572) (768,744) ---------- ---------- Net Increase in Cash 3,978 3,338 Cash at beginning of period 14,662 7,960 ---------- ---------- Cash at end of period $18,640 $11,298 ========== ==========
The notes to Financial Statements are an integral part of this statement. ATLAS-ENERGY FOR THE NINETIES--PUBLIC #6 LTD. A PENNSYLVANIA LIMITED PARTNERSHIP STATEMENT OF CHANGES IN PARTNERS' CAPITAL ACCOUNTS (Unaudited) FOR THE SIX MONTHS ENDED JUNE 30, 2000
MANAGING GENERAL OTHER PARTNER PARTNERS TOTAL ---------- ---------- ---------- BALANCE AT JANUARY 1, 2000 $331,143 $7,949,455 $8,280,598 Participation in revenue and expenses: Net Production Revenues 142,773 428,319 571,092 Interest 1,775 5,325 7,100 Depletion and depreciation (73,423) (312,899) (386,322) Other costs (9,189) (27,567) (36,756) ---------- ---------- ---------- Net Earnings 61,936 93,178 155,114 Distributions (139,893) (419,679) (559,572) ---------- ---------- ---------- BALANCE AT JUNE 30, 2000 $253,186 $7,622,954 $7,876,140 ========== ========== ==========
The notes to Financial Statements are an integral part of this statement. NOTES TO FINANCIAL STATEMENTS (UNAUDITED) ATLAS-ENERGY FOR THE NINETIES--PUBLIC #6 LTD. A PENNSYLVANIA LIMITED PARTNERSHIP 1. INTERIM FINANCIAL STATEMENTS The financial statements as of June 30, 2000 and for the six months then ended have been prepared by the management of the Partnership without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with generally accepted accounting principles have been omitted pursuant to such rules and regulations, although the partnership believes that the disclosures are adequate to make the information presented not misleading. These financial statements should be read in conjunction with the audited December 31, 1999 financial statements. In the opinion of management, all adjustments (consisting of only normal recurring accruals) considered necessary for presentation have been included. 2. SIGNIFICANT ACCOUNTING POLICIES The Partnership uses the successful efforts method of accounting for oil and gas activities. Costs to acquire mineral interests in oil and gas properties and drill and equip wells are capitalized. Oil and gas properties are periodically assessed and when unamortized costs exceed expected future net cash flows, a loss is recognized by a charge to income. Capitalized costs of oil and gas wells and leases are depreciated, depleted and amortized by the unit of production method. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS ATLAS-ENERGY FOR THE NINETIES-PUBLIC #6 LTD. Management's discussion and analysis should be read in conjunction with the financial statements and notes thereto. RESULTS OF OPERATIONS SIX MONTHS ENDED JUNE 30, 2000 Natural gas sales revenue for the six months ended June 30, 2000 was down $86,103 (11%) from the prior year due to lower gas production. Gas production for the six months ended June 30, 2000 was 275,979 Mcf, down from 415,147 Mcf in the prior year. The decrease in gas production results primarily from normal well declines. Natural gas prices for the six months ended June 30, 2000 increased by $.69/Mcf to $2.76/Mcf. QUARTER ENDED JUNE 30, 2000 Natural gas sales revenue for the quarter ended June 30, 2000 was down $18,116 (5%) from the prior year's second quarter due to lower gas production. Gas production for the quarter ended June 30, 2000 was 134,924 Mcf, down from 190,533 Mcf in the prior year's second quarter. The decrease in gas production results primarily from normal well declines. Natural gas prices for the quarter ended June 30, 2000 increased by $.72/Mcf to $2.85/Mcf. FINANCIAL CONDITION LIQUIDITY The decrease in cash provided by operating activities and distributions to partners during the six months ended June 30, 2000 results primarily from lower cash received from sales of natural gas. The Partnership's working capital decreased from $297,913 at December 31, 1999 to $279,780 at June 30, 2000. The decrease is attributable to distributions to partners, higher accounts payable and normal declines in natural gas production from the levels at the end of 1999, which result in lower receivables in connection with sales of gas produced. CAPITAL RESOURCES There were no new material commitments for capital expenditures during the period and the Partnership does not expect any in the foreseeable future. SIGNATURES In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Atlas-Energy for the Nineties--Public #6 Ltd. By (Signature and Title): Atlas Resources, Inc., Managing General Partner By (Signature and Title): /s/ James R. O'Mara James R. O'Mara President, Chief Executive Officer and a Director Date: August 14, 2000 In Accordance with the Exchange Act, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By (Signature and Title): /s/ James R. O'Mara James R. O'Mara President, Chief Executive Officer and a Director Date: August 14, 2000 By (Signature and Title): /S/ Tony C. Banks Tony C. Banks Vice President and Chief Financial Officer Date: August 14, 2000
EX-27.1 2 ex-27_1.txt EXHIBIT 27.1
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE UNAUDITED FINANCIAL STATEMENT OF ATLAS-ENERGY FOR THE NINETIES-PUBLIC #6 LT FINANCIAL DATA SCHEDULE FOR 2ND QUARTER 10-Q. 1,000 3-MOS 6-MOS DEC-31-1999 DEC-31-1999 APR-01-2000 JAN-01-2000 JUN-30-2000 JUN-30-2000 18,640 18,640 0 0 291,868 291,868 0 0 0 0 310,508 310,508 10,355,659 10,355,659 (2,759,297) (2,759,297) 7,906,870 7,906,870 30,730 30,730 0 0 0 0 0 0 0 0 7,876,140 7,876,140 7,906,870 7,906,870 389,535 770,256 394,331 777,356 52,678 101,987 52,678 101,987 260,483 520,255 0 0 0 0 81,170 155,114 0 0 81,170 155,114 0 0 0 0 0 0 81,170 155,114 0 0 0 0
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