Exhibit 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges

(UNAUDITED)

Atlas Pipeline Partners, L.P.

(amounts in thousands, except ratios)

	Six Months Ended June 30,
	2011			2010(1)
Earnings:
Income (loss) from continuing operations before income tax expense (2)(3)	$	250,474		$	(12,228	)
Fixed charges		20,937			52,480
Adjustment to net distributed income from equity investee		615			4,100
Interest capitalized		(1,315	)		(344	)
Amortization of previously capitalized interest		156			115
Non-controlling interest		(2,732	)		(2,262	)
Total	$	268,135		$	41,861
Fixed Charges:
Interest cost and debt expense	$	18,590		$	50,998
Interest capitalized		1,315			344
Interest allocable to rental expense(4)		1,032			1,138
Total Fixed Charges	$	20,937		$	52,480
Preferred dividends		389			—
Total Fixed Charges and Preferred Dividends	$	21,326		$	52,480
Ratio of Earnings to Fixed Charges		12.8x			—	(5)
Ratio of Earnings to Fixed Charges and Preferred Dividends		12.6x			—	(6)

(1) Restated to reflect amounts reclassified to discontinued operations due to the Partnership’s sale of Elk City.

(2) Includes a $255.7 million gain on asset sale and a $4.6 million non-cash loss recognized on derivatives for the six months ended June 30, 2011.

(3) Includes a non-cash gain recognized on derivatives of $22.3 million and a non-recurring cash derivative unwind expense of $22.4 million for the six months ended June 30, 2010.

(4) Represents one-third of the total operating lease rental expense which is that portion deemed to be interest.

(5) The Partnership earnings were insufficient to cover its fixed charges by $10.6 million for this period.

(6) The Partnership earnings were insufficient to cover its fixed charges and preferred dividends by $10.6 million for this period.