-----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, IsCB4I56RuKgZhmvtDLN2gL+Flp0Q7SmAcJpw5ooeOm4r8YGq9aiF3KnpIPf2qY0 vaXDDov7ydJq87kz1TExLQ== 0000948948-97-000004.txt : 19970815 0000948948-97-000004.hdr.sgml : 19970815 ACCESSION NUMBER: 0000948948-97-000004 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970630 FILED AS OF DATE: 19970814 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ATLAS ENERGY FOR THE NINETIES PUBLIC N0 4 LTD CENTRAL INDEX KEY: 0000948948 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 251772474 STATE OF INCORPORATION: PA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 10QSB SEC ACT: 1934 Act SEC FILE NUMBER: 033-95330 FILM NUMBER: 97662077 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 June 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 33-95330 Atlas-Energy for the Nineties-Public #4 Ltd. (Name of small business issuer in its charter) Pennsylvania 25-1772474 (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 #4 Ltd. (the "Partnership") for the period January 1, 1997 to June 30, 1997 Item 2. Description of Business The Partnership has drilled and completed approximately 31.5 net wells to the Clinton/Medina formation in Mercer and Venango Counties, Pennsylvania. As of June 30, 1996, 31.5 net wells are in production. The first quarterly distribution was on July 8, 1996 for natural gas production during February, March and April, 1996. All wells are on line. Net Production revenue for the three months was $187,768 includes pumpers fees of $275.00 per month per well Expenses for this period include $75.00 per month per well for administrative costs. 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. - ----------------------------------------------------------------------------- UNAUDITED FINANCIAL STATEMENTS ATLAS-ENERGY FOR THE NINETIES--PUBLIC #4 LTD. A PENNSYLVANIA LIMITED PARTNERSHIP June 30, 1997 BALANCE SHEET - (UNAUDITED) ASSETS 6/30/97 12/31/96 Increase (Decrease) - ----------------------------------------------------------------------------- Cash $ 167,789 $ 204,711 $ (36,922) Accounts receivable 217,703 347,537 (129,835) Oil and gas wells and leases 6,064,826 6,461,901 (397,075) Organizational and syndication costs 867,492 924,287 (56,795) =========== ========== ========== TOTAL ASSETS $7,317,809 $7,938.436 $(620,627) LIABILITIES AND PARTNERS' CAPITAL Accounts payable $ 16,054 25,069 (9,015) Partners' capital 7,301,755 7,913,367 (611,612) =========== ========== =========== TOTAL LIABILITIES AND PARTNERS CAPITAL $7,317,809 $7,938,436 $(620,627) - -------------------------------------------------------------------------- STATEMENT OF INCOME - (UNAUDITED) ATLAS-ENERGY FOR THE NINETIES--PUBLIC #4 LTD. A PENNSYLVANIA LIMITED PARTNERSHIP For the six months ended June 30, 1997 REVENUE Natural gas sales $ 605,482 Less direct operating costs: Royalty interest 76,167 Other 69,803 ---------- 145,970 ---------- Net Production Revenues 459,512 Interest Income 2,301 --------- Total Revenue 461,813 EXPENSES Depletion and depreciation of oil and gas wells and leases 397,075 Amortization of organizational and syndication costs 56,795 General and administrative fees 14,067 Professional fees 10,331 Other 1,282 ---------- Total Expenses 479,550 ========== NET INCOME (LOSS) $(17,737) - ----------------------------------------------------------------- STATEMENT OF CASH FLOWS - (UNAUDITED) ATLAS-ENERGY FOR THE NINETIES--PUBLIC #4 LTD. A PENNSYLVANIA LIMITED PARTNERSHIP For the six months ended June 30, 1997 Increase (Decrease) in Cash Cash flows from operating activities Net Income (Loss) $ (17,737) Adjustments to reconcile net income to net cash provided by operating activities: Depletion and depreciation 397,075 Amortization 56,795 Decrease accounts receivable 129,835 Decrease in accounts payable (9,015) ----------- Net cash provided by operating activities 556,953 Cash flows used in financing activities: Distributions to Partners ( 593,875) ----------- Net Increase (Decrease) in Cash (36,922) Cash at beginning of period 204,711 Cash at June 30, 1997 $167,789 =========== - --------------------------------------------------------------------- STATEMENT OF CHANGES IN PARTNERS' CAPITAL ACCOUNTS - (UNAUDITED) ATLAS-ENERGY FOR THE NINETIES--PUBLIC #4 LTD. A PENNSYLVANIA LIMITED PARTNERSHIP For the six months June 30, 1997 MANAGING GENERAL OTHER PARTNER PARTNERS TOTAL BALANCE AT JANUARY 1, 1997 $1,378,492 $6,534,876 $7,913,367 Participation in revenue and expenses: Natural gas sales 114,878 344,634 459,512 Interest 575 1,726 2,301 Depletion and depreciation ( 20,037) ( 377,038) (397,075) Amortization ( 56,795) 0 (56,795) Other costs ( 6,420) ( 19,260) (25,680) ----------- ---------- -------- Net income (loss) 32,201 ( 49,938) (17,737) Distributions (148,469) ( 445,407) (593,875) ----------- ----------- ---------- BALANCE AT JUNE 30, 1997 $1,262,224 $6,039,531 $7,301,755 =========== ========== ========== - ----------------------------------------------------------------------------- NOTES TO FINANCIAL STATEMENTS (UNAUDITED) ATLAS-ENERGY FOR THE NINETIES--PUBLIC #4 LTD. A PENNSYLVANIA LIMITED PARTNERSHIP June 30, 1997 1. INTERIM FINANCIAL STATEMENTS The financial statements as of June 30, 1997 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 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 of oil and gas wells, leases and organization and syndication costs are depreciated, depleted and amortized by the unit of production method. 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 #4 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: June 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: June 30, 1997 By (Signature and Title): /S/ Tony C. Banks Tony C. Banks Vice President and Chief Financial Officer Date: June 30, 1997 - ------------------------------------------------------------------------ EX-27 2
5 6-MOS DEC-31-1997 JUN-30-1997 167,789 0 217,703 0 0 385,492 8,380,418 (1,448,101) 7,317,809 16,054 0 0 0 0 0 7,317,809 605,482 607,783 543,045 543,045 82,475 0 0 (17,737) 0 (17,737) 0 0 0 (17,737) 0 0
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