-----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, UiZnZi9HvVGwXXZF5+MDHTfhoyXe+37nfUAfsMxT5IkwV4l1LQdZfNulvTbpH56U ECM6ohsQZQDDpEdCYA9V9g== 0000927804-97-000014.txt : 19971114 0000927804-97-000014.hdr.sgml : 19971114 ACCESSION NUMBER: 0000927804-97-000014 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970930 FILED AS OF DATE: 19971112 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ATLAS ENERGY FOR THE NINETIES PUBLIC NO 3 LTD CENTRAL INDEX KEY: 0000927804 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 251758822 STATE OF INCORPORATION: PA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 10QSB SEC ACT: SEC FILE NUMBER: 033-82188 FILM NUMBER: 97714081 BUSINESS ADDRESS: STREET 1: 311 ROUSER RD 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 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 September 30, 1997 [ ] TRANSITION REPORT PURSUANT SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 33-82188 Atlas-Energy for the Nineties-Public #3 Ltd. (Name of small business issuer in its charter) Pennsylvania 25-1758822 (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 #3 Ltd. (the "Partnership") for the period January 1, 1997 to September 30, 1997 follow. Item 2. Description of Business The Partnership distributed its 10th quarterly production revenue on September 5, 1997 from production of natural gas from the Partnership's 25.5 net wells. Net production revenue of $ 162,848 includes pumpers fees( $ 275 per month/well, while expenses for this period include $ 75 per month/well for administrative costs. For the next twelve months management believes that the Partnership has adequate capital. The Partnership's commitments pursuant to the drilling and operating agreement are expected to be fulfilled through revenues generated from the sale of gas and oil. 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. UNAUDITED FINANCIAL STATEMENTS ATLAS-ENERGY FOR THE NINETIES--PUBLIC #3 LTD. A PENNSYLVANIA LIMITED PARTNERSHIP BALANCE SHEET (Unaudited) September 30, 1997 ASSETS Sept 30, December 31, Increase CURRENT ASSETS 1997 1996 (Decrease) --------- ------------ ---------- Cash 8,949 59,207 (50,258) Accounts receivables 162,848 246,001 (83,153) Oil and Gas drilling contracts/leases 3,715,677 4,175,837 (460,160) Organizational/Syndication Costs 547,497 617,721 (70,224) --------- --------- --------- TOTAL CURRENT ASSETS 4,434,972 5,098,766 (663,795) LIABILITIES AND PARTNERS' CAPITAL Accounts payable 7,657 9,245 (1,588) Partners' Capital 4,427,315 5,089,521 (662,207) --------- --------- --------- 4,434,972 5,098,766 (663,795) - ---------------------------------------------------------------------------- STATEMENT OF INCOME ATLAS-ENERGY FOR THE NINETIES--PUBLIC #3 LTD. - ----------------------------------------------- A PENNSYLVANIA LIMITED PARTNERSHIP For the nine months ended September 30, 1997 REVENUE - ------- Natural gas sales 704,915 Less direct operating costs: Royalty Interest 86,472 Other 74,906 -------- 161,378 -------- Net Production Revenues 543,537 Interest Income 3,116 -------- Total Revenue 546,653 EXPENSES - -------- Depletion and depreciation of oil and gas wells and leases 434,505 Amortization of organizational and syndication costs 72,505 General and administrative fees 15,716 Professional fees 10,084 Other 1,247 -------- Total Expenses 534,057 -------- NET INCOME 12,596 ======== STATEMENT OF CASH FLOWS ATLAS-ENERGY FOR THE NINETIES--PUBLIC #3 LTD. - ----------------------------------------------- A PENNSYLVANIA LIMITED PARTNERSHIP For the nine months ended September 30, 1997 Increase (Decrease) in Cash ------------------------------ Cash flows from operating activities Net Income 12,596 Adjustments to reconcile net income to net cash provided by operating activities: Depletion and depreciation 434,505 Amortization 72,505 Decrease in accounts receivable 83,153 Decrease in accounts payable (1,588) ------------ Cash provided by operating activities 601,171 Cash flows used in financing activities: Distributions to Partners (674,802) Refund of Intangible Drillig Costs 23,374 ------------ Net (Decrease) in Cash (50,258) Cash at beginning of period 59,207 ------------- Cash as of September 30, 1997 8,949 ============= - ---------------------------------------------------------------------------- STATEMENT OF CHANGES IN PARTNERS' CAPITAL ACCOUNTS - (UNAUDITED) ATLAS-ENERGY FOR THE NINETIES--PUBLIC #3 LTD. A PENNSYLVANIA LIMITED PARTNERSHIP For the nine months ended September 30, 1997 MANAGING GENERAL OTHER PARTNER PARTNERS TOTAL BALANCE AT JANUARY 1, 1997 $ 785,319 $ 4,304,202 $ 5,089,521 Participation in revenue and expenses: Natural gas sales 135,884 407,653 543,537 Interest 779 2,337 3,116 Depletion and depreciation (11,509) (430,159) (441,668) Amortization (65,342) 0 (65,342) Other costs (6,762) (20,285) (27,047) ---------- ----------- ----------- Net Income ( Loss ) 53,050 (40,454) 12,596 Distributions (148,852) (525,950) (674,802) ---------- ----------- ----------- BALANCE AT Sept 30, 1997 689,516 3,737,799 4,427,315 ========== =========== =========== See notes to unaudited financial statements. - ---------------------------------------------------------------------------- NOTES TO FINANCIAL STATEMENTS (UNAUDITED) ATLAS-ENERGY FOR THE NINETIES--PUBLIC #3 LTD. A PENNSYLVANIA LIMITED PARTNERSHIP September 30, 1997 1. INTERIM FINANCIAL STATEMENTS The financial statements as of Sept 30, 1997 and for the 9 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 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, 1996 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, drill and equip wells and organizational and syndication costs 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 are expensed at unit cost rates calculated annually based on the estimated volume of recoverable gas and the related costs. - ----------------------------------------------------------------------------- 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 #3 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: September 30, 1997 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: September 30, 1997 By (Signature and Title): /s/ Tony C. Banks Tony C. Banks Vice President and Chief Financial Officer Date: September 30, 1997 - ----------------------------------------------------------------------------- EX-27 2
5 9-MOS DEC-31-1997 SEP-30-1997 8,949 0 162,848 0 0 171,797 5,834,786 (2,119,109) 4,434,972 7,657 0 0 0 0 0 4,434,972 704,915 708,031 595,883 595,883 99,552 0 0 12,596 0 12,596 0 0 0 12,596 0 0
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