This total acreage position is largely contiguous and is located in Sullivan, Knox, Greene, Owen, Clay and Lawrence counties of southwestern Indiana. The acreage is within the northern "biogenic" part of the New Albany Shale play where several operators have drilled over 40 successful horizontal wells.

"We have been studying the New Albany Shale for over two years and believe the predictable and statistical nature of its development is a perfect fit for our investment programs," stated Richard D. Weber, President and Chief Operating Officer of Atlas Energy. "This acreage provides Atlas with approximately 800 horizontal drilling locations, which will support a large scale drilling program for many years."

Development of the New Albany Shale will be overseen by Company's Antrim Shale operating team, led by Dick Redmond, President of Atlas Energy Michigan, LLC. The New Albany Shale has many similarities to Michigan's biogenic Antrim Shale where Atlas Energy is the largest and one of the lowest cost operators. "Our team has proven to be one of the leading operators of biogenic shale gas," stated Mr. Redmond. "We have pioneered numerous drilling, completion and operating techniques and are excited about bringing this expertise to the emerging New Albany Shale."

Biogenic shale is unique in that methane is created as a bi-product of bacterial consumption of organic material contained in the shale. The Devonian aged New Albany Shale is a blanket formation found at depths of 500 to 3,000 feet, with thicknesses ranging from 100 to 200 feet. However, unlike the Antrim Shale, where natural fracture patterns are low angle, the natural fracture patterns in the New Albany Shale are vertically oriented. Atlas has reviewed over thirty successful horizontal completions within and in close proximity to the acreage where it has acquired rights and has observed an average estimated ultimate recovery of approximately 1.3 Bcf per well. Horizontal wells in the New Albany Shale having 4,000 to 5,000 foot laterals can be drilled and completed for approximately $1.3 million.

Atlas Energy Resources, LLC develops and produces domestic natural gas and to a lesser extent, oil. Atlas Energy is one of the largest independent energy producers in the Eastern United States. Atlas Energy sponsors and manages tax-advantaged investment partnerships, in which it co-invests, to finance the development of its acreage. For more information, visit Atlas Energy's website at www.atlasenergyresources.com or contact Investor Relations at bbegley@atlasamerica.com.

Certain matters discussed within this press release are forward-looking statements. Although Atlas Energy Resources, LLC 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. Factors that could cause actual results to differ materially from expectations include financial performance, regulatory changes, changes in local or national economic conditions and other risks detailed from time to time in Atlas Energy'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.

SOURCE: Atlas Energy Resources, LLC

Atlas Energy Resources, LLC 
Brian Begley 
Investor Relations 
(215) 546-5005 
(215) 553-8455 (fax)

Atlas America, Inc. (NASDAQ:ATLS) owns 1.1 million limited partner units of Atlas Pipeline Partners, L.P., and an approximate 64% limited partner interest in Atlas Pipeline Holdings, L.P., which holds the general partner interest and 5.8 million limited partner units of Atlas Pipeline Partners, L.P. Atlas America, Inc. also owns an approximate 48% common unit interest and all of the Class A and management incentive interests in Atlas Energy Resources, LLC (NYSE: ATN). For more information, please visit our website at www.atlasamerica.com, or contact Investor Relations at bbegley@atlasamerica.com.

SOURCE: Atlas Energy Resources, LLC

Atlas Energy Resources, LLC 
Brian Begley 
Investor Relations 
215-546-5005 
215-553-8455 (facsimile)

* Q3 earnings per share $0.56

* Reuters Estimates Q3 earnings per share view $0.65, revenue view $230.92

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Atlas Energy Resources, LLC develops and produces domestic natural gas and to a lesser extent, oil. Atlas Energy is one of the largest independent energy producers in the Appalachian Basin and Michigan's Antrim Shale. The Company sponsors and manages tax-advantaged investment partnerships, in which it co-invests, to finance the exploration and development of the Company's acreage in the Appalachian Basin. Atlas Energy is active principally in Pennsylvania, Michigan and Tennessee. For more information, visit Atlas Energy's website at www.atlasenergyresources.com or contact investor relations at bbegley@atlasamerica.com.

SOURCE: Atlas Energy Resources, LLC

Atlas Energy Resources, LLC 
Brian Begley 
Investor Relations 
215-546-5005 
215-553-8455 (fax)