##### Table of Contents



United States
Securities and Exchange Commission
 Washington, D.C. 20549
 Form 10-K
  þ
    
    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the fiscal year ended December 31, 2009
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the transition period from  to
 Commission file number 333-138068-02
 ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
  Delaware
(State or other jurisdiction of 
Incorporation or organization)
    
    20-8219605
(I.R.S. Employer
Identification No.)Westpointe Corporate Center One 
1550 Coraopolis Heights Road, 2nd Floor 
Moon Township, PA
(Address of principal executive offices)
    
    15108
(Zip Code)
 (412) 262-2830
  Title of each class 
None
    
    Name of each exchange on which registered
None
 
 Yes o No þ
 Yes o No þ
 þ o
 þ
  Large accelerated filer o
    
    Accelerated filer o
    
    Non-accelerated filer o
    
    Smaller reporting company þ
 o þ




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##### 



ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
(A DELAWARE LIMITED PARTNERSHIP)
INDEX TO ANNUAL REPORT
ON FORM 10-K
 PAGEPART IItem 1: Business
    
    
    3-5Item 2: Properties
    
    
    5-10Item 3: Legal Proceedings
    
    
    10Item 4: (Removed and Reserved)
    
    
    10PART IIItem 5: Market for Registrants Common Equity and Related Security Holder Matters
    
    
    10Item 7: Managements Discussion and Analysis of Financial Condition or Plan of Operations
    
    
    11-14Item 8: Financial Statements
    
    
    15-34Item 9: Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
    
    
    35Item 9A: Controls and Procedures
    
    
    35Item 9B: Other Information
    
    
    35PART IIIItem 10: Directors and Executive Officers of the Registrant
    
    
    36-38Item 11: Executive Compensation
    
    
    38Item 12: Security Ownership of Certain Beneficial Owners and Management
    
    
    38Item 13: Certain Relationships and Related Party Transactions
    
    
    38-39Item 14: Principal Accountant Fees and Services
    
    
    39PART IVItem 15: Exhibits
    
    
    39SIGNATURES
    
    
    40Exhibit 23.1Exhibit 31.1Exhibit 31.2Exhibit 32.1Exhibit 32.2Exhibit 99.1
   2




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The matters discussed within this report include forward-looking statements. These statements
may be identified by the use of forward-looking terminology such as anticipate, believe,
continue, could, estimate, expect, intend, may, might, plan, potential,
predict, should, or will, or the negative thereof or other variations thereon or comparable
terminology. In particular, statements about our expectations, beliefs, plans, objectives,
assumptions or future events or performance contained in this report are forward-looking
statements. We have based these forward-looking statements on our current expectations,
assumptions, estimates and projections. While we believe these expectations, assumptions, estimates
and projections are reasonable, such forward-looking statements are only predictions and involve
known and unknown risks and uncertainties, many of which are beyond our control. These and other
important factors may cause our actual results, performance or achievements to differ materially
from any future results, performance or achievements expressed or implied by these forward-looking
statements.
 
 PART I
 
 ITEM 1.
    
    DESCRIPTION OF BUSINESS
 General.
       3




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
    
    well tending, routine maintenance and adjustment;
 
    
    reading meters, recording production, pumping, maintaining appropriate books and
records; and
 
    
    preparation of reports for us and government agencies.
  Markets and Competition.
  Governmental Regulation.
 Regulation of oil and gas producing activities.
  4




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
    
    new well permit and well registration requirements, procedures and fees;
 
    
    minimum well spacing requirements;
 
    
    restriction on well locations and underground gas storage;
 
    
    certain well site restoration, groundwater protection and safety measures;
 
    
    landowner notification requirements;
 
    
    certain bonding or other security measures;
 
    
    various reporting requirements;
 
    
    well plugging standards and procedures; and
 
    
    broad enforcement powers.
 Environmental and Safety Regulation .
  Where can you find more information.
  
 
 ITEM 2.
    
    DESCRIPTION OF PROPERTIES
 Drilling Activity .
  5




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Summary of Producing Wells .
 Number of Producing WellsGross
    
    
    NetGas
    
    
    632.00
    
    
    
    589.01Oil
    
    
    16.00
    
    
    
    16.00Total
    
    
    648.00
    
    
    
    605.01
 Production.
 AverageProduction CostYear Ended
    
    Production
    
    
    Average Sales Price
    
    
    (Lifting Cost)December 31,
    
    Oil (bbls)(1)
    
    
    Gas (mcf)(1)
    
    
    per bbl(1) (3) (5)
    
    
    per mcf(1) (3) (4)
    
    
    per mcfe(1) (2)2009
    
    
    15,800
    
    
    
    3,185,400
    
    
    $
    59.84
    
    
    $
    8.01
    
    
    $
    2.442008
    
    
    31,500
    
    
    
    4,597,900
    
    
    $
    94.73
    
    
    $
    9.16
    
    
    $
    2.12
 
 (1)
    
    Mcf represents one thousand cubic feet of natural gas. Mcfe represents a thousand
cubic feet equivalent. Oil production is converted to mcfe at the rate of six mcf per
barrel (bbl).(2)
    
    Lifting costs include labor to operate the wells and related equipment, repairs
and maintenance, materials and supplies, property taxes, insurance and gathering
charges.(3)
    
    Average sales prices represent accrual basis pricing after reversing the effect
of previously recognized gains resulting from prior period impairment charges.(4)
    
    Average gas prices are calculated by including in total revenue derivative gains
previously recognized into income and dividing by the total volume for the period.
Previously recognized derivative gains were $7,165,600 for the year ended December 31,
2009. The derivative gains are included in other comprehensive income and resulted from
prior period impairment charges.(5)
    
    Average oil prices are calculated by including in total revenue derivative gains
previously recognized into income and dividing by the total volume for the period.
Previously recognized derivative gains were $299,600 for the year ended December 31,
2009. The derivative gains are included in other comprehensive income and resulted from
prior period impairment charges. Natural Gas and Oil Reserve Information.
 
    
    Introduce a new definition of oil and gas producing activities. This new definition
allows companies to include in their reserve base volumes from unconventional resources.
Such unconventional resources include bitumen extracted from oil sands and oil and gas
extracted from coal beds and shale formations.
 
    
    Report oil and gas reserves using an unweighted average price using the prior 12-month
period, based on the closing prices on the first day of each month, rather than year-end
pricing. This should maximize the comparability of reserve estimates among companies and
mitigate the distortion of the estimates that arises when using a single pricing date.
 
    
    Permit companies to disclose their probable and possible reserves on a voluntary basis.
Current rules limit disclosure to only proved reserves.
 
    
    Update and revise reserve definitions to reflect changes in the oil and gas industry and
new technologies. New updated definitions include by geographic area and reasonable
certainty.
  6




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
    
    Permit the use of new technologies to determine proved reserves if those technologies
have been demonstrated empirically to lead to reliable conclusions about reserves volumes.
 
    
    Require additional disclosures regarding the qualifications of the chief technical
person who oversees the companys overall reserve estimation process. Additionally,
disclosures are required related to internal controls over reserve estimation, as well as a
report addressing the independence and qualifications of a companys reserves preparer or
auditor based on Society of Petroleum Engineers criteria.
   December 31,2009
    
    
    2008Natural gas (per mcf)
    
    $
    3.87
    
    
    $
    5.71Oil ( per bbl)
    
    
    61.18
    
    
    
    44.80
   7




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At December 31,2009
    
    
    2008Natural gas reserves  Proved Reserves (Mcf) (1)(4):Proved developed reserves (2)
    
    
    19,051,700
    
    
    
    19,761,200Total proved reserves of natural gas
    
    
    19,051,700
    
    
    
    19,761,200Oil reserves  Proved Reserves (Bbl) (1)(4):Proved developed reserves (2)
    
    
    83,300
    
    
    
    106,800Total proved reserves of oil
    
    
    83,300
    
    
    
    106,800Total proved reserves (Mcfe)
    
    
    19,551,500
    
    
    
    20,402,000PV-10 estimate of cash flows of proved reserves (3)(4):Proved developed reserves
    
    $
    24,037,600
    
    
    $
    41,161,600Total PV-10 estimate
    
    $
    24,037,600
    
    
    $
    41,161,600PV-10 estimate per investor partner unit (5)
    
    $
    746
    
    
    $
    1,277Undiscounted estimate per investor partner unit (5)
    
    $
    1,248
    
    
    $
    2,005
 
 (1)
    
    Proved reserves generally refers to the estimated quantities of crude oil, natural
gas, and natural gas liquids which geological and engineering data demonstrate with
reasonable certainty to be recoverable in future years from known reservoirs under
existing economic and operating conditions, i.e., prices and costs as of the date the
estimate is made. Prices include consideration of changes in existing prices provided
only by contractual arrangements, but not on escalations based upon future conditions.
Reservoirs are considered proved if economic production is supported by either actual
production or conclusive formation test. The area of a reservoir considered proved
includes: that portion delineated by drilling and defined by gas-oil and/or oil-water
contacts, if any; and the immediately adjoining portions not yet drilled, but which can
be reasonably judged as economically productive on the basis of available geological and
engineering data.(2)
    
    Proved developed reserves generally refers to reserves that can be expected to
be recovered through existing wells with existing equipment and operating methods. (Does
not include natural gas liquid reserves).(3)
    
    The present value of estimated future net cash flows is calculated by discounting
estimated future net cash flows by 10% annually.(4)
    
    Please see Regulation S-X rule 4-10 for complete definitions of each reserve
category.(5)
    
    This value per $10,000 unit is determined by following the methodology used for
determining our proved reserves using the data discussed above. However, this value does
not necessarily reflect the fair market value of a unit, and each unit is illiquid.
Also, the value of a unit for purposes of presentment of the unit to our MGP for
purchase is different, because it is calculated under a formula set forth in the
partnership agreement.  Title to Properties .
  8




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Acreage.
 Developed AcreageLocation
    
    Gross(1)
    
    
    Net(2)Pennsylvania
    
    
    11,176.53
    
    
    
    10,856.83Tennessee
    
    
    4,240.00
    
    
    
    3,956.25Ohio
    
    
    360.70
    
    
    
    295.53New York
    
    
    200.00
    
    
    
    200.00West Virginia
    
    
    211.30
    
    
    
    158.48Total
    
    
    16,188.53
    
    
    
    15,467.09
 
 (1)
    
    A gross acre is an acre in which we own a working interest.(2)
    
    A net acre represents the actual working interest we own in one gross acre
divided by one hundred. For example, a 50% working interest in an acre is one gross
acre, but a .50 net acre. Delivery Commitments.
     9




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ITEM 3.
    
    LEGAL PROCEEDINGS
   
 ITEM 4.
    
    (REMOVED AND RESERVED)
  
 PART II
 
 ITEM 5.
    
    MARKET FOR REGISTRANTS COMMON EQUITY AND RELATED SECURITY HOLDER
MATTERS
 Market Information.
 
    
    our managing general partner consent;
 
    
    the transfer not result in materially adverse tax consequences to us; and
 
    
    the transfer not violate federal or state securities laws.
  
    
    the assignor gives the assignee the right;
 
    
    our MGP consents to the substitution;
 
    
    the assignee pays to us all costs and expenses incurred in connection with the
substitution; and
 
    
    the assignee executes and delivers the instruments, which our MGP requires to effect
the substitution and to confirm his or her agreement to be bound by the terms of our
partnership agreement.
  Holders.
 Distributions.
   
    
    $15,813,600 and $20,073,400 to our limited partners; and
 
    
    $7,485,400 and $12,271,700 to our managing general partner, respectively.
  10




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ITEM 7.
    
    MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR PLAN
OF OPERATIONS
  General .
  Results of Operations.
 Years Ended December 31,2009
    
    
    2008Production revenues (in thousands):Gas
    
    $
    18,365
    
    
    $
    42,129Oil
    
    
    645
    
    
    
    2,986Total
    
    $
    19,010
    
    
    $
    45,115Production volumes:Gas (mcf/day) (1)
    
    
    8,727
    
    
    
    12,563Oil (bbls/day) (1)
    
    
    43
    
    
    
    86Total (mcfe/day) (1)
    
    
    8,985
    
    
    
    13,079Average sales prices: (2)Gas (per mcf) (1) (3)
    
    $
    8.01
    
    
    $
    9.16Oil (per bbl) (1) (4)
    
    $
    59.84
    
    
    $
    94.73Average production costs:As a percent of revenues
    
    
    42
    %
    
    
    22
    %Per mcfe (1)
    
    $
    2.44
    
    
    $
    2.12Depletion per mcfe
    
    $
    2.28
    
    
    $
    6.54
 
 (1)
    
    Mcf represents thousand cubic feet, mcfe represents thousand cubic feet
equivalent and bbls represents barrels. Bbls are converted to mcfe using the ratio of
six mcfs to one bbl.(2)
    
    Average sales prices represent accrual basis pricing after reversing the effect
of previously recognized gains resulting from prior period impairment charges.(3)
    
    Average gas prices are calculated by including in total revenue derivative gains
previously recognized into income and dividing by the total volume for the period.
Previously recognized derivative gains were $7,165,600 for the year ended December 31,
2009. The derivative gains are included in other comprehensive income and resulted from
prior period impairment charges.(4)
    
    Average oil prices are calculated by including in total revenue derivative gains
previously recognized into income and dividing by the total volume for the period.
Previously recognized derivative gains were $299,600 for the year ended December 31,
2009. The derivative gains are included in other comprehensive income and resulted from
prior period impairment charges.  11




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Natural Gas Revenues.
  Oil Revenue.
 Expenses.
     12




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Liquidity and Capital Resources.
     Critical Accounting Policies .
 Impairment of Long-Lived Assets.
  13




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Fair Value of Financial Instruments
  Level 1 
 Level 2 
 Level
3
   Reserve Estimates .
 Asset Retirement Obligations
 Working Interest.
  14




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ITEM 8.
    
    FINANCIAL STATEMENTS
 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
     
  15




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ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
 BALANCE SHEETS
 DECEMBER 31,
 2009
    
    
    2008ASSETCurrent assets:Cash and cash equivalents
    
    $
    1,360,600
    
    
    $
    2,453,100Accounts receivable-affiliate
    
    
    5,036,900
    
    
    
    9,241,000Short-term hedge receivable due from affiliate
    
    
    2,862,800
    
    
    
    8,165,800Total current assets
    
    
    9,260,300
    
    
    
    19,859,900Oil and gas properties, net
    
    
    51,192,800
    
    
    
    57,837,300Long-term hedge receivable due from affiliate
    
    
    2,351,600
    
    
    
    5,253,600$
    62,804,700
    
    
    $
    82,950,800LIABILITIES AND PARTNERS CAPITALCurrent liabilities:Accrued liabilities
    
    $
    118,400
    
    
    $
    22,200Short-term hedge liability due to affiliate
    
    
    34,100
    
    
    
    709,400Total current liabilities
    
    
    152,500
    
    
    
    731,600Asset retirement obligations
    
    
    6,344,300
    
    
    
    5,708,300Long-term hedge liability due to affiliate
    
    
    368,900
    
    
    
    638,200Partners capital:Managing general partner
    
    
    19,730,400
    
    
    
    26,352,900Limited partners (20,000 units)
    
    
    36,003,800
    
    
    
    49,519,800Accumulated other comprehensive income
    
    
    204,800
    
    
    
    Total partners capital
    
    
    55,939,000
    
    
    
    75,872,700$
    62,804,700
    
    
    $
    82,950,800
   16




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ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
 STATEMENTS OF OPERATIONS
 YEARS ENDED DECEMBER 31, 2009 AND 2008
 2009
    
    
    2008REVENUESNatural gas and oil
    
    $
    19,010,200
    
    
    $
    45,115,200Interest income
    
    
    2,300
    
    
    
    16,600Total revenues
    
    
    19,012,500
    
    
    
    45,131,800COST AND EXPENSESProduction
    
    
    8,017,600
    
    
    
    10,134,300Depletion
    
    
    7,493,200
    
    
    
    31,317,200Impairment of oil and gas properties
    
    
    
    
    
    
    160,644,700Accretion of asset retirement obligation
    
    
    342,500
    
    
    
    208,800General and administrative
    
    
    552,100
    
    
    
    683,600Total expenses
    
    
    16,405,400
    
    
    
    202,988,600Net earnings (loss)
    
    $
    2,607,100
    
    
    $
    (157,856,800
    )Allocation of net earnings (loss):Managing general partner
    
    $
    2,178,300
    
    
    $
    (28,526,400
    )Limited partners
    
    $
    428,800
    
    
    $
    (129,330,400
    )Net earnings (loss) per limited partnership unit
    
    $
    21
    
    
    $
    (6,467
    )
   17




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ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
 STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
 YEARS ENDED DECEMBER 31, 2009 AND 2008
 2009
    
    
    2008Net earnings (loss)
    
    $
    2,607,100
    
    
    $
    (157,856,800
    )Other comprehensive gain (loss):Unrealized holding gain (loss) on hedging contracts
    
    
    2,290,900
    
    
    
    (1,448,700
    )Less: reclassification adjustment for (gains) losses realized in net earnings (loss)
    
    
    (2,086,100
    )
    
    
    1,949,800Total other comprehensive income
    
    
    204,800
    
    
    
    501,100Comprehensive income (loss)
    
    $
    2,811,900
    
    
    $
    (157,355,700
    )
   18




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ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
 STATEMENTS OF CHANGES IN PARTNERS CAPITAL
 YEARS ENDED DECEMBER 31, 2009 AND 2008
 AccumulatedManaging
    
    
    
    
    
    
    OtherGeneral
    
    
    Limited
    
    
    ComprehensivePartner
    
    
    Partners
    
    
    Income (Loss)
    
    
    TotalBalance at December 31, 2007
    
    $
    58,305,100
    
    
    $
    198,923,600
    
    
    $
    (501,100
    )
    
    $
    256,727,600Participation in revenue and expenses:Net production revenues
    
    
    13,271,800
    
    
    
    21,709,100
    
    
    
    
    
    
    
    34,980,900Interest income
    
    
    6,300
    
    
    
    10,300
    
    
    
    
    
    
    
    16,600Depletion
    
    
    (6,764,900
    )
    
    
    (24,552,300
    )
    
    
    
    
    
    
    (31,317,200
    )Impairment of oil and gas properties
    
    
    (34,701,000
    )
    
    
    (125,943,700
    )
    
    
    
    
    
    
    (160,644,700
    )Accretion of asset retirement
obligations
    
    
    (79,200
    )
    
    
    (129,600
    )
    
    
    
    
    
    
    (208,800
    )General and administrative
    
    
    (259,400
    )
    
    
    (424,200
    )
    
    
    
    
    
    
    (683,600
    )Net loss
    
    
    (28,526,400
    )
    
    
    (129,330,400
    )
    
    
    
    
    
    
    (157,856,800
    )Asset contributions
    
    
    8,845,900
    
    
    
    
    
    
    
    
    
    
    
    8,845,900Other comprehensive income
    
    
    
    
    
    
    
    
    
    
    501,100
    
    
    
    501,100Distribution to partners
    
    
    (12,271,700
    )
    
    
    (20,073,400
    )
    
    
    
    
    
    
    (32,345,100
    )Balance at December 31, 2008
    
    $
    26,352,900
    
    
    $
    49,519,800
    
    
    $
    
    
    
    $
    75,872,700Participation in revenue and expenses:Net production revenues
    
    
    4,170,600
    
    
    
    6,822,000
    
    
    
    
    
    
    
    10,992,600Interest income
    
    
    900
    
    
    
    1,400
    
    
    
    
    
    
    
    2,300Depletion
    
    
    (1,653,800
    )
    
    
    (5,839,400
    )
    
    
    
    
    
    
    (7,493,200
    )Accretion of asset retirement
obligations
    
    
    (129,900
    )
    
    
    (212,600
    )
    
    
    
    
    
    
    (342,500
    )General and administrative
    
    
    (209,500
    )
    
    
    (342,600
    )
    
    
    
    
    
    
    (552,100
    )Net earnings
    
    
    2,178,300
    
    
    
    428,800
    
    
    
    
    
    
    
    2,607,100Other comprehensive loss
    
    
    
    
    
    
    
    
    
    
    204,800
    
    
    
    204,800Subordination
    
    
    (1,868,800
    )
    
    
    1,868,800
    
    
    
    
    
    
    
    Asset contributions
    
    
    553,400
    
    
    
    
    
    
    
    
    
    
    
    553,400Distribution to partners
    
    
    (7,485,400
    )
    
    
    (15,813,600
    )
    
    
    
    
    
    
    (23,299,000
    )Balance at December 31, 2009
    
    $
    19,730,400
    
    
    $
    36,003,800
    
    
    $
    204,800
    
    
    $
    55,939,000
   19




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ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
 STATEMENTS OF CASH FLOWS
 YEARS ENDED DECEMBER 31, 2009 AND 2008
 2009
    
    
    2008Cash flows from operating activities:Net earnings (loss)
    
    $
    2,607,100
    
    
    $
    (157,856,800
    )Adjustments to reconcile net earnings (loss) to net cash provided by
operating activities:Depletion
    
    
    7,493,200
    
    
    
    31,317,200Impairment of oil and gas properties
    
    
    
    
    
    
    172,716,500Non-cash loss (gain) on derivative
    
    
    7,465,200
    
    
    
    (12,071,800
    )Well plugging and abandonment
    
    
    (15,300
    )
    
    
    Accretion of asset retirement obligation
    
    
    342,500
    
    
    
    208,800Decrease (increase) in accounts receivable-affiliate
    
    
    4,204,100
    
    
    
    (1,073,700
    )Increase (decrease) increase in accrued liabilities
    
    
    96,200
    
    
    
    (15,600
    )Net cash provided by operating activities
    
    
    22,193,000
    
    
    
    33,224,600Cash flows from investing activities:Proceeds from sale of tangible equipment
    
    
    13,500
    
    
    
    Net cash provided from investing activities
    
    
    13,500
    
    
    
    Cash flows from financing activities:Distributions to partners
    
    
    (23,299,000
    )
    
    
    (32,345,100
    )Net cash used in financing activities
    
    
    (23,299,000
    )
    
    
    (32,345,100
    )Net (decrease) increase in cash and cash equivalents
    
    
    (1,092,500
    )
    
    
    879,500Cash and cash equivalents at beginning of period
    
    
    2,453,100
    
    
    
    1,573,600Cash and cash equivalents at end of period
    
    $
    1,360,600
    
    
    $
    2,453,100Supplemental Schedule of non-cash investing and financing activities:Assets contributed by the managing general partner:Tangible equipment
    
    $
    553,400
    
    
    $
    8,845,900Asset retirement obligation revision
    
    $
    308,800
    
    
    $
    2,019,100
   20




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##### Table of Contents



ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2009 AND 2008
 NOTE 1  DESCRIPTION OF BUSINESS
   NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
  Use of Estimates
  Accounts Receivable and Allowance for Possible Losses
   21




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ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
NOTES TO FINANCIAL STATEMENTS  (Continued)
DECEMBER 31, 2009 AND 2008
 NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 Revenue Recognition
   Fair Value of Financial Instruments
   Supplemental Cash Flow Information
  Concentration of Credit Risk
  Comprehensive Income (Loss)
   22




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ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
NOTES TO FINANCIAL STATEMENTS  (Continued)
DECEMBER 31, 2009 AND 2008
 NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 Working Interest
  Oil and Gas Properties
   December 31,2009
    
    
    2008Natural gas and oil properties:Proved properties:Leasehold interests
    
    $
    6,842,600
    
    
    $
    6,854,000Wells and related equipment
    
    
    262,712,300
    
    
    
    262,243,500269,554,900
    
    
    
    269,097,500Accumulated depletion
    
    
    (218,362,100
    )
    
    
    (211,260,200
    )$
    51,192,800
    
    
    $
    57,837,300
   23




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##### Table of Contents



ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
NOTES TO FINANCIAL STATEMENTS  (Continued)
DECEMBER 31, 2009 AND 2008
 NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
  Asset Retirement Obligation
  Environmental Matters
   Major Customers
  Income Taxes
   24




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##### Table of Contents



ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
NOTES TO FINANCIAL STATEMENTS  (Continued)
DECEMBER 31, 2009 AND 2008
 NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 Recently Adopted Accounting Standards
   
    
    Introduce a new definition of oil and gas producing
activities. This new definition allows companies to include
in their reserve base volumes from unconventional resources.
Such unconventional resources include bitumen extracted from
oil sands and oil and gas extracted from coal beds and shale
formations;
    
    Report oil and gas reserves using an unweighted average
price using the prior 12-month period, based on the closing
prices on the first day of each month, rather than year-end
pricing. This should maximize the comparability of reserve
estimates among companies and mitigate the distortion of the
estimates that arises when using a single pricing date;
    
    Permit companies to disclose their probable and possible
reserves on a voluntary basis. Current rules limit
disclosure to only proved reserves;
    
    Update and revise reserve definitions to reflect changes in
the oil and gas industry and new technologies. New updated
definitions include by geographic area and reasonable
certainty;
    
    Permit the use of new technologies to determine proved
reserves if those technologies have been demonstrated
empirically to lead to reliable conclusions about reserves
volumes; and
    
    Require additional disclosures regarding the qualifications
of the chief technical person who oversees the companys
overall reserve estimation process. Additionally,
disclosures are required with regard to internal controls
over reserve estimation, as well as a report addressing the
independence and qualifications of a companys reserves
preparer or auditor based on Society of Petroleum Engineers
criteria.
  25




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##### Table of Contents



ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
NOTES TO FINANCIAL STATEMENTS  (Continued)
DECEMBER 31, 2009 AND 2008
 NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 Recently Adopted Accounting Standards (Continued)
      26




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ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
NOTES TO FINANCIAL STATEMENTS  (Continued)
DECEMBER 31, 2009 AND 2008
 NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 Recently Adopted Accounting Standards (Continued)
    NOTE 3  PARTICIPATION IN REVENUES AND COSTS
  ManagingGeneral
    
    
    LimitedPartner
    
    
    PartnersOrganization and offering costs
    
    
    100
    %
    
    
    0
    %Lease costs
    
    
    100
    %
    
    
    0
    %Revenues (1)
    
    
    37.94
    %
    
    
    62.06
    %Operating costs, administrative costs, direct costs and all other operating costs (2)
    
    
    37.94
    %
    
    
    62.06
    %Intangible drilling costs
    
    
    0.94
    %
    
    
    99.06
    %Tangible equipment costs
    
    
    100
    %
    
    
    0
    %
 
 (1)
    
    Subject to the MGPs subordination obligation, substantially all partnership
revenues will be shared in the same percentage as capital contributions are to the
total partnership capital contributions, except that the MGP will receive an additional
7% of the partnership revenues, the MGP revenue percentage may not exceed 40%.(2)
    
    These costs will be charged to the partners in the same ratio as the related
production revenues are credited.  27




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##### Table of Contents



ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
NOTES TO FINANCIAL STATEMENTS  (Continued)
DECEMBER 31, 2009 AND 2008
 NOTE
3  PARTICIPATION IN REVENUES AND COSTS (Continued)
  NOTE 4  CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
 
    
    Administrative costs which are included in general and administrative expenses in the
Partnerships Statement of Operations are generally payable at $75 per well per month.
Administrative costs incurred in 2009 and 2008 were $493,600 and $467,700, respectively.
 
    
    Monthly well supervision fees which are included in production expenses in the
Partnerships Statement of Operations are generally payable at $376 per well per month in
2009 and 2008, respectively, for operating and maintaining the wells. Well supervision fees
incurred in 2009 and 2008 were $2,477,200 and $2,348,700, respectively.
 
    
    Transportation fees which are included in production expenses in the Partnerships
Statement of Operations are generally payable at 13% of the natural gas sales price.
Transportation fees incurred in 2009 and 2008 were $2,991,700 and $4,635,800, respectively.
 
    
    Direct costs which are included in production and general administrative expenses in the
Partnerships Statements of Operations are payable to the MGP and its affiliates as
reimbursement for all costs expended on the Partnerships behalf. Direct costs incurred in
2009 and 2008 were $2,607,200 and $3,365,700, respectively.
 
    
    Asset contributions from the MGP which are disclosed on the Partnerships Statement of
Cash Flows as non-cash investing and financing activities for the years ended December 31,
2009 and 2008 were $553,400 and $8,845,900, respectively.
  NOTE 5  COMMITMENTS
   NOTE 6  SUBORDINATION BY MANAGING GENERAL PARTNER
   28




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##### Table of Contents



ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
NOTES TO FINANCIAL STATEMENTS  (Continued)
DECEMBER 31, 2009 AND 2008
 NOTE 7  DERIVATIVE INSTRUMENTS
   Fair Value of Derivative Instruments:
 Asset Derivatives
    
    
    Liability DerivativesDerivatives in
    
    
    
    Fair Value
    
    
    
    
    Fair ValueCash Flow
    
    Balance Sheet
    
    December 31,
    
    
    December 31,
    
    
    Balance Sheet
    
    December 31,
    
    
    December 31,Hedging Relationships
    
    Location
    
    2009
    
    
    2008
    
    
    Location
    
    2009
    
    
    2008Commodity contracts:
    
    Current assets
    
    $
    2,862,800
    
    
    $
    8,165,800
    
    
    Current liabilities
    
    $
    (34,100
    )
    
    $
    (709,400
    )Long-term assets
    
    
    2,351,600
    
    
    
    5,253,600
    
    
    Long-term liabilities
    
    
    (368,900
    )
    
    
    (638,200
    )Total derivatives
    
    
    
    $
    5,214,400
    
    
    $
    13,419,400
    
    
    
    
    $
    (403,000
    )
    
    $
    (1,347,600
    )
 Effects of Derivative Instruments on Statements of Operations:
 Gain (Loss)
    
    
    
    
    Gain (Loss)Recognized in OCI on Derivative
    
    
    
    
    Reclassified from OCI into Income(Effective Portion)
    
    
    Location of Gain/(Loss)
    
    (Effective Portion)Derivatives in
    
    Twelve Months Ended
    
    
    Reclassified from Accumulated
    
    Twelve Months EndedCash Flow
    
    December 31,
    
    
    December 31,
    
    
    OCI into Income
    
    December 31,
    
    
    December 31,Hedging Relationship
    
    2009
    
    
    2008
    
    
    (Effective Portion)
    
    2009
    
    
    2008Commodity contracts
    
    $
    2,290,900
    
    
    $
    (1,448,700
    )
    
    Natural gas and oil revenue
    
    $
    2,086,100
    
    
    $
    (1,949,800
    )
  29




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ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
NOTES TO FINANCIAL STATEMENTS  (Continued)
DECEMBER 31, 2009 AND 2008
 NOTE 7  DERIVATIVE INSTRUMENTS (Continued)
    Natural Gas Fixed Price Swaps
 Production
    
    
    
    
    
    AveragePeriod Ending
    
    Volumes
    
    
    Fixed Price
    
    
    Fair ValueDecember 31,
    
    (MMbtu)(1)
    
    
    (per MMbtu)(1)
    
    
    Asset(2)2010
    
    
    1,628,700
    
    
    $
    7.34
    
    
    $
    2,498,1002011
    
    
    851,100
    
    
    
    6.98
    
    
    
    751,7002012
    
    
    676,400
    
    
    
    7.22
    
    
    
    564,7002013
    
    
    366,100
    
    
    
    7.08
    
    
    
    152,800$
    3,967,300
  30




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ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
NOTES TO FINANCIAL STATEMENTS  (Continued)
DECEMBER 31, 2009 AND 2008
 NOTE 7  DERIVATIVE INSTRUMENTS (Continued)
 Natural Gas Costless Collars
 Production
    
    
    
    
    
    
    
    AveragePeriod Ending
    
    Option
    
    Volumes
    
    
    Floor & Cap
    
    
    Fair ValueDecember 31,
    
    Type
    
    (MMbtu)(1)
    
    
    (per MMbtu)(1)
    
    
    Asset(2)2010
    
    Puts purchased
    
    
    112,900
    
    
    $
    7.84
    
    
    $
    278,0002010
    
    Calls sold
    
    
    112,900
    
    
    
    9.01
    
    
    
    2011
    
    Puts purchased
    
    
    496,300
    
    
    
    6.45
    
    
    
    319,3002011
    
    Calls sold
    
    
    496,300
    
    
    
    7.63
    
    
    
    2012
    
    Puts purchased
    
    
    256,300
    
    
    
    6.51
    
    
    
    115,6002012
    
    Calls sold
    
    
    256,300
    
    
    
    7.71
    
    
    
    2013
    
    Puts purchased
    
    
    238,000
    
    
    
    6.58
    
    
    
    67,5002013
    
    Calls sold
    
    
    238,000
    
    
    
    7.79
    
    
    
    $
    780,400
 Crude Oil Fixed Price Swaps
 Production
    
    
    
    
    
    AveragePeriod Ending
    
    Volumes
    
    
    Fixed Price
    
    
    Fair ValueDecember 31,
    
    (Bbl)(1)
    
    
    (per Bbl)(1)
    
    
    Asset(3)2010
    
    
    2,500
    
    
    $
    97.40
    
    
    $
    39,5002011
    
    
    2,100
    
    
    
    77.46
    
    
    
    7,0002012
    
    
    1,600
    
    
    
    76.86
    
    
    
    1,6002013
    
    
    400
    
    
    
    77.36
    
    
    
    100$
    48,200
 Crude Oil Costless Collars
 Production
    
    
    
    
    
    
    
    AveragePeriod Ending
    
    Option
    
    Volumes
    
    
    Floor & Cap
    
    
    Fair ValueDecember 31,
    
    Type
    
    (Bbl)(1)
    
    
    (per Bbl)(1)
    
    
    Asset (Liability)(3)2010
    
    Puts purchased
    
    
    1,600
    
    
    $
    85.00
    
    
    $
    13,0002010
    
    Calls sold
    
    
    1,600
    
    
    
    112.92
    
    
    
    2011
    
    Puts purchased
    
    
    1,300
    
    
    
    67.22
    
    
    
    2,4002011
    
    Calls sold
    
    
    1,300
    
    
    
    89.44
    
    
    
    2012
    
    Puts purchased
    
    
    1,000
    
    
    
    65.51
    
    
    
    2002012
    
    Calls sold
    
    
    1,000
    
    
    
    91.45
    
    
    
    2013
    
    Puts purchased
    
    
    300
    
    
    
    65.36
    
    
    
    2013
    
    Calls sold
    
    
    300
    
    
    
    93.44
    
    
    
    (100
    )$
    15,500Total Net Asset
    
    
    $
    4,811,400
  31




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ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
NOTES TO FINANCIAL STATEMENTS  (Continued)
DECEMBER 31, 2009 AND 2008
 NOTE 7  DERIVATIVE INSTRUMENTS (Continued)
 
 (1)
    
    MMBTU represents million British Thermal Units. Bbl represents barrels.(2)
    
    Fair value based on forward NYMEX natural gas prices.(3)
    
    Fair value based on forward WTI crude oil prices. NOTE 8  FAIR VALUE OF FINANCIAL INSTRUMENTS
  Level 1 
    
    Unadjusted quoted prices in active markets for identical assets and
liabilities that the reporting entity has the ability to access at the measurement date.
 Level 2 
    
    Inputs other than quoted prices included within Level 1 that are observable
for the asset and liability or can be corroborated with observable market data for
substantially the entire contractual term of the asset or liability.
 Level 3 
    
    Unobservable inputs that reflect the entities own assumptions about the
assumptions that market participants would use in the pricing of the asset or liability
and are consequently not based on market activity, but rather through particular
valuation techniques.
 Assets and Liabilities Measured at Fair Value on a Recurring Basis
  December 31, 2009
    
    
    December 31, 2008Level 2
    
    
    Total
    
    
    Level 2
    
    
    TotalCommodity-based derivatives
    
    $
    4,811,400
    
    
    $
    4,811,400
    
    
    $
    12,071,800
    
    
    $
    12,071,800Total
    
    $
    4,811,400
    
    
    $
    4,811,400
    
    
    $
    12,071,800
    
    
    $
    12,071,800
 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
    32




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ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
NOTES TO FINANCIAL STATEMENTS  (Continued)
DECEMBER 31, 2009 AND 2008
 NOTE 9  ASSET RETIREMENT OBLIGATION
    Years Ended December 31,2009
    
    
    2008Asset retirement obligation at beginning of period
    
    $
    5,708,300
    
    
    $
    3,480,400Revision in estimates
    
    
    308,800
    
    
    
    2,019,100Liabilities settled
    
    
    (15,300
    )
    
    
    Accretion expense
    
    
    342,500
    
    
    
    208,800Asset retirement obligation at end of period
    
    $
    6,344,300
    
    
    $
    5,708,300
 NOTE 10  NATURAL GAS AND OIL PRODUCING ACTIVITIES (UNAUDITED)
 (1) Capitalized Costs Related to Oil and Gas Producing Activities
  At December 31,
    
    
    At December 31,2009
    
    
    2008Leasehold interest
    
    $
    6,842,600
    
    
    $
    6,854,000Wells and related equipment
    
    
    262,712,300
    
    
    
    262,243,500Accumulated depletion
    
    
    (218,362,100
    )
    
    
    (211,260,200
    )Net capitalized cost
    
    $
    51,192,800
    
    
    $
    57,837,300
  33




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##### Table of Contents



ATLAS RESOURCES PUBLIC 16-2007 (A) L.P.
NOTES TO FINANCIAL STATEMENTS  (Continued)
DECEMBER 31, 2009 AND 2008
 NOTE 10  NATURAL GAS AND OIL PRODUCING ACTIVITIES (UNAUDITED) (Continued)
  (2) Oil and Gas Reserve Information
    Natural Gas
    
    
    Oil(Mcf)
    
    
    (Bbls)Proved developed reserves:Balance at December 31, 2007
    
    
    46,689,300
    
    
    
    34,600Revisions to previous estimates
    
    
    (22,330,200
    )
    
    
    103,700Production
    
    
    (4,597,900
    )
    
    
    (31,500
    )Proved developed reserves:Balance at December 31, 2008
    
    
    19,761,200
    
    
    
    106,800Revisions to previous estimates
    
    
    2,475,900
    
    
    
    (7,700
    )Production
    
    
    (3,185,400
    )
    
    
    (15,800
    )Balance at December 31, 2009
    
    
    19,051,700
    
    
    
    83,300
  34




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##### Table of Contents



ITEM 9.
    
    CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
  
 ITEM 9A.
    
    CONTROLS AND PROCEDURES
 Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures
   Managements Report on Internal Control over Financial Reporting
 Internal Control  Integrated
Framework
    
 ITEM 9B.
    
    OTHER INFORMATION
   35




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##### Table of Contents



PART III
 
 ITEM 10.
    
    DIRECTOR AND EXECUTIVE OFFICERS OF THE REGISTRANT
 nd
 Executive Officers and Directors.
 NAME
    
    AGE
    
    POSITION OR OFFICEFreddie M. Kotek
    
    
    54
    
    
    Chairman of the Board of Directors, Chief Executive
Officer and PresidentFrank P. Carolas
    
    
    50
    
    
    Executive Vice President  Land and Geology and a DirectorJeffrey C. Simmons
    
    
    51
    
    
    Executive Vice President  Operations and a DirectorJack L. Hollander
    
    
    53
    
    
    Senior Vice President  Direct Participation ProgramsSean P. McGrath
    
    
    38
    
    
    Chief Accounting OfficerMatthew A. Jones
    
    
    47
    
    
    Chief Financial Officer
  
    
    the approximate amount of an individuals professional time devoted to the business
and affairs of our MGP and Atlas America have been aggregated because there is no
reasonable method for them to distinguish their activities between the two companies;
and
 
    
    for those individuals who also hold senior positions with other affiliates of our
MGP, if it is stated that they devote approximately 100% of their professional time to
our MGP and Atlas America, it is because either the other affiliates are not currently
active in drilling new wells, such as Viking Resources or Resource Energy, and the
individuals are not required to devote a material amount of their professional time to
the affiliates, or there is no reasonable method to distinguish their activities between
our MGP and Atlas America as compared with the other affiliates of our MGP, such as
Viking Resources or Resource Energy.
 Freddie M. Kotek
 Frank P. Carolas.
  36




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##### Table of Contents



Jeffrey C. Simmons.
 Jack L. Hollander.
 Sean P. McGrath
 Matthew A. Jones
 Audit Committee Financial Expert.
 Remuneration of Officers and Directors.
  37




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##### Table of Contents



Code of Business Conduct and Ethics. nd
 
 ITEM 11.
    
    EXECUTIVE COMPENSATION
 Certain Relationships and Related Party Transactions
 
 ITEM 12.
    
    SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
  Organizational and Security Ownership of Beneficial Owners.
 
 ITEM 13.
    
    CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
 Oil and Gas Revenues.
 Administrative Costs.
 Direct Costs.
 Well Charges.
  38




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##### Table of Contents



Transportation Fees.
 Other Compensation.
 
 ITEM 14.
    
    PRINCIPAL ACCOUNTANT FEES AND SERVICES
 Audit Fees.
 Procedures for Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services of
Independent Auditor.
 
 PART IV
 
 ITEM 15.
    
    EXHIBITS
 EXHIBIT INDEX
 Description
    
    Location-4(a)
    
    
    Certificate of Limited Partnership for Atlas Resources
Public 16-2008 (A) L.P.
    
    Previously filed in
our Form S-1/A on
March 15, 20074(b)
    
    
    Amended and Restated Certificate and Agreement of
Limited Partnership for Atlas Resources Public
16-2008 (A) L.P. (1)
    
    Previously filed in
our Form S-1/A on
March 15, 20074(c)
    
    
    Drilling and Operating Agreement for Atlas Resources
Public 16-2008 (A) L.P. (1)
    
    Previously filed in
our Form S-1/A on
March 15, 200723.1
    
    
    Consent of Wright and Company, Inc.31.1
    
    
    Rule 13a-14(a)/15(d)  14 (a) Certification31.2
    
    
    Rule 13a-14(a)/15(d)  14 (a) Certification32.1
    
    
    Section 1350 Certification32.2
    
    
    Section 1350 Certification99.1
    
    
    Summary Reserve Report
 
 (1)
    
    Filed on October 18, 2006 in the Form S-1 Registration Statement dated October 18, 2006, File No. 333-138068  39




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##### Table of Contents



SIGNATURES
   Date:  March 30, 2010
    Atlas Resources, LLC, Managing General PartnerBy:
    /s/ Freddie M. KotekFreddie M. Kotek, Chairman of the
Board of Directors, Chief Executive Officer and President  Date:  March 30, 2010
    By:
    /s/ Freddie M. KotekFreddie M. Kotek, Chairman of the
Board of Directors, Chief Executive Officer and PresidentDate:  March 30, 2010
    By:
    /s/ Frank P. CarolasFrank P. Carolas, Executive Vice
President  Land and GeologyDate:  March 30, 2010
    By:
    /s/ Jeffrey C. SimmonsJeffrey C. Simmons, Executive Vice
President  OperationsDate:  March 30, 2010
    By:
    /s/ Sean P. McGrathSean McGrath, Chief Accounting OfficerDate:  March 30, 2010
    By:
    /s/ Matthew A. JonesMatthew A. Jones, Chief Financial Officer Supplemental
information to be furnished with reports filed pursuant to
Section 15(d) of the Exchange Act by Non-reporting Issuers
   40