Item Id: Creese01
Case Name: Creese, Gary S
Case Number: 13 65049
Trustee:
Starting Minimum Bid: $1,000
Description: 50% Ownership of two Oil & Gas investments, with monthly payments, and all other rights held under owner # 316258. Operator is Atlas Resource Partners, L.P. of Pittsburgh, Pennsylvania. The debtor invested $10,000 each in two separate Atlas Energy Programs (100945 Atlas America Public A#15-2006 (B) LP and Atlas Resources Public #16-2007 (A) LP).
Atlas uses 100% of capital invested by partners to prepare wells and drills in the program. The investor’s portion of the intangible drilling costs is generally taken as a deduction in the tax year in which the intangible costs occurred – in this case, that amount was over 85% of the initial investments. There is no account balance; the funds have been used. Investors receive distributions following the close of the program based upon their share of ownership in the program.
Payout amounts have averaged approximately $487.00 annually on #100945 Atlas America Public #15-2006. The total received since 2007 is $3,897.16 as of the Fall of 2014.
The average yearly payout on #100944 Atlas Resources Public #16-2007 is $427 and the total received since 2008 is $2,995.28 as of the Fall of 2014
Division Order https://www.bkassets.com/wp-content/uploads/2015/05/K-1-Info-re-Oil-Rights-Atlas.pdf
Payout History https://www.bkassets.com/wp-content/uploads/2015/05/pay-history.pdf
Payout History p 2 https://www.bkassets.com/wp-content/uploads/2015/05/pay-history-2.pdf
Liens: We are not aware of any liens
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