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United States
Securities and Exchange Commission
 Washington, D.C. 20549
 Form 10-Q
  þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended March 31, 2010
 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 333-44130
 ATLAS AMERICA PUBLIC #9 LTD.
  Pennsylvania
    
    25-1867510(State or other jurisdiction of
    
    (I.R.S. Employerincorporation or organization)
    
    Identification No.)Westpointe Corporate Center One1550 Coraopolis Heights Rd. 2ndFloorMoon Township, PA
    
    15108(Address of principal executive offices)
    
    (zip code)
 (412) 262-2830
 þ o
 Yes o No þ
  Large accelerated filer o
    
    Accelerated filer o
    
    Non-accelerated filer o
    
    Smaller reporting company þ
 o þ
 o þ




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##### 



ATLAS AMERICA PUBLIC #9 LTD.
(A Pennsylvania Limited Partnership)
INDEX TO QUARTERLY REPORT
ON FORM 10-Q
 PAGEPART I. FINANCIAL INFORMATIONItem 1: Financial StatementsBalance Sheets as of March 31, 2010 and December 31, 2009
    
    
    3Statements of Operations for the Three Months ended March 31, 2010 and 2009
    
    
    4Statement of Changes in Partners Capital for the Three Months ended March 31, 2010
    
    
    5Statements of Cash Flows for the Three Months ended March 31, 2010 and 2009
    
    
    6Notes to Financial Statements
    
    
    7-16Item 2: Managements Discussion and Analysis of Financial Condition or Plan of Operations
    
    
    16-19Item 4: Controls and Procedures
    
    
    19PART II. OTHER INFORMATIONItem 1: Legal Proceedings
    
    
    20Item 6: Exhibits
    
    
    20SIGNATURES
    
    
    21CERTIFICATIONSExhibit 31.1Exhibit 31.2Exhibit 32.1Exhibit 32.2
   2




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ATLAS AMERICA PUBLIC #9 LTD.
 
 BALANCE SHEETS
 March 31,
    
    
    December 31,2010
    
    
    2009(Unaudited)ASSETSCurrent assets:Cash and cash equivalents
    
    $
    164,000
    
    
    $
    81,700Accounts receivable-affiliate
    
    
    282,300
    
    
    
    340,500Short-term hedge receivable due from affiliate
    
    
    391,300
    
    
    
    243,000Total current assets
    
    
    837,600
    
    
    
    665,200Oil and gas properties, net
    
    
    6,992,000
    
    
    
    7,177,300Long-term hedge receivable due from affiliate
    
    
    355,400
    
    
    
    199,500$
    8,185,000
    
    
    $
    8,042,000LIABILITIES AND PARTNERS CAPITALCurrent liabilities:Accrued liabilities
    
    $
    14,800
    
    
    $
    21,100Short-term hedge liability due to affiliate
    
    
    2,600
    
    
    
    2,900Total current liabilities
    
    
    17,400
    
    
    
    24,000Asset retirement obligation
    
    
    898,100
    
    
    
    884,800Long-term hedge liability due to affiliate
    
    
    74,700
    
    
    
    31,700Partners capital:Managing general partner
    
    
    1,969,900
    
    
    
    2,006,900Limited partners (1,500 units)
    
    
    4,555,500
    
    
    
    4,686,700Accumulated other comprehensive income
    
    
    669,400
    
    
    
    407,900Total partners capital
    
    
    7,194,800
    
    
    
    7,101,500$
    8,185,000
    
    
    $
    8,042,000
   3




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ATLAS AMERICA PUBLIC #9 LTD.
 
 STATEMENTS OF OPERATIONS
 (Unaudited)
 Three Months EndedMarch 31,2010
    
    
    2009REVENUESNatural gas and oil
    
    $
    350,700
    
    
    $
    390,400Interest income
    
    
    100
    
    
    
    100Total revenues
    
    
    350,800
    
    
    
    390,500COSTS AND EXPENSESProduction
    
    
    137,400
    
    
    
    148,200Depletion
    
    
    185,300
    
    
    
    105,200Accretion of asset retirement obligation
    
    
    13,300
    
    
    
    11,200General and administrative
    
    
    28,000
    
    
    
    24,600Total expenses
    
    
    364,000
    
    
    
    289,200Net (loss) earnings
    
    $
    (13,200
    )
    
    $
    101,300Allocation of net (loss) earnings:Managing general partner
    
    $
    18,000
    
    
    $
    48,900Limited partners
    
    $
    (31,200
    )
    
    $
    52,400Net (loss) earnings per limited partnership unit
    
    $
    (21
    )
    
    $
    35
   4




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ATLAS AMERICA PUBLIC #9 LTD.
 
 STATEMENT OF CHANGES IN PARTNERS CAPITAL
 FOR THE THREE MONTHS ENDED
 March 31, 2010
 (Unaudited)
 AccumulatedManaging
    
    
    
    
    
    
    OtherGeneral
    
    
    Limited
    
    
    ComprehensivePartner
    
    
    Partners
    
    
    Income
    
    
    TotalBalance at January 1, 2010
    
    $
    2,006,900
    
    
    $
    4,686,700
    
    
    $
    407,900
    
    
    $
    7,101,500Participation in revenues and expenses:Net production revenues
    
    
    75,700
    
    
    
    137,600
    
    
    
    
    
    
    
    213,300Interest income
    
    
    
    
    
    
    100
    
    
    
    
    
    
    
    100Depletion
    
    
    (43,100
    )
    
    
    (142,200
    )
    
    
    
    
    
    
    (185,300
    )Accretion of asset retirement obligation
    
    
    (4,700
    )
    
    
    (8,600
    )
    
    
    
    
    
    
    (13,300
    )General and administrative
    
    
    (9,900
    )
    
    
    (18,100
    )
    
    
    
    
    
    
    (28,000
    )Net (loss) earnings
    
    
    18,000
    
    
    
    (31,200
    )
    
    
    
    
    
    
    (13,200
    )Other comprehensive income
    
    
    
    
    
    
    
    
    
    
    261,500
    
    
    
    261,500Distributions to partners
    
    
    (55,000
    )
    
    
    (100,000
    )
    
    
    
    
    
    
    (155,000
    )Balance at March 31, 2010
    
    $
    1,969,900
    
    
    $
    4,555,500
    
    
    $
    669,400
    
    
    $
    7,194,800
   5




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ATLAS AMERICA PUBLIC #9 LTD.
 
 STATEMENTS OF CASH FLOWS
 (Unaudited)
 Three Months EndedMarch 31,2010
    
    
    2009Cash flows from operating activities:Net (loss) earnings
    
    $
    (13,200
    )
    
    $
    101,300Adjustments to reconcile net earnings to net
cash provided by operating activities:Depletion
    
    
    185,300
    
    
    
    105,200Accretion of asset retirement obligation
    
    
    13,300
    
    
    
    11,200Decrease in accounts receivable  affiliate
    
    
    58,200
    
    
    
    129,900Decrease in accrued liabilities
    
    
    (6,300
    )
    
    
    (12,200
    )Net cash provided by operating activities
    
    
    237,300
    
    
    
    335,400Cash flows from financing activities:Distributions to partners
    
    
    (155,000
    )
    
    
    (318,100
    )Net cash used in financing activities
    
    
    (155,000
    )
    
    
    (318,100
    )Net increase in cash and cash equivalents
    
    
    82,300
    
    
    
    17,300Cash and cash equivalents at beginning of period
    
    
    81,700
    
    
    
    213,600Cash and cash equivalents at end of period
    
    $
    164,000
    
    
    $
    230,900
   6




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ATLAS AMERICA PUBLIC #9 LTD.
 
 NOTES TO FINANCIAL STATEMENTS
 March 31, 2010
 (Unaudited)
 NOTE 1  DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION
    NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
  Use of Estimates
    7




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ATLAS AMERICA PUBLIC #9 LTD.
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2010
(Unaudited)
 NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 Accounts Receivable and Allowance for Possible Losses
  Revenue Recognition
   Impairment of Long-Lived Assets
    8




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ATLAS AMERICA PUBLIC #9 LTD.
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2010
 (Unaudited)
 NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
  Working Interest
  Oil and Gas Properties
  March 31,
    
    
    December 31,2010
    
    
    2009Natural gas and oil properties:Proved properties:Leasehold interests
    
    $
    257,800
    
    
    $
    257,800Wells and related equipment
    
    
    18,365,900
    
    
    
    18,365,90018,623,700
    
    
    
    18,623,700Accumulated depletion
    
    
    (11,631,700
    )
    
    
    (11,446,400
    )$
    6,992,000
    
    
    $
    7,177,300
  9




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ATLAS AMERICA PUBLIC #9 LTD.
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2010
(Unaudited)
 NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 Oil and Gas Properties (Continued)
   Recently Adopted Accounting Standards
  NOTE 3  TRANSACTIONS WITH ATLAS RESOURCES, LLC AND ITS AFFILIATES
  
    
    Administrative costs which are included in general and administrative expenses in the
Partnerships Statements of Operations are payable at $75 per well per month.
Administrative costs incurred for the three months ended March 31, 2010 and 2009 were
$16,800 and $16,700, respectively.
 
    
    Monthly well supervision fees which are included in production expenses in the
Partnerships Statements of Operations are payable at $337 per well per month in 2010
and 2009, respectively, for operating and maintaining the wells. Well supervision fees
incurred for the three months ended March 31, 2010 and 2009 were $75,700 and $75,000,
respectively.
  10




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ATLAS AMERICA PUBLIC #9 LTD.
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2010
(Unaudited)
 NOTE 3  TRANSACTIONS WITH ATLAS RESOURCES, LLC AND ITS AFFILIATES (Continued)
 
    
    Transportation fees which are included in production expenses in the Partnerships
Statements of Operations are generally payable at 13% of the natural gas sales price.
Transportation fees incurred for the three months ended March 31, 2010 and 2009 were
$39,900 and $43,500, respectively.
  NOTE 4  COMPREHENSIVE INCOME
  Three Months EndedMarch 31,2010
    
    
    2009Net (loss) earnings
    
    $
    (13,200
    )
    
    $
    101,300Other comprehensive income:Unrealized holding gain on hedging contracts
    
    
    347,600
    
    
    
    117,700Less: reclassification adjustment for gains realized in net earnings
    
    
    (86,100
    )
    
    
    (88,700
    )Total other comprehensive income
    
    
    261,500
    
    
    
    29,000Comprehensive income
    
    $
    248,300
    
    
    $
    130,300
 NOTE 5  DERIVATIVE INSTRUMENTS
   11




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ATLAS AMERICA PUBLIC #9 LTD.
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2010
(Unaudited)
 NOTE 5  DERIVATIVE INSTRUMENTS (Continued)
  Fair Value of Derivative Instruments:
 Asset Derivatives
    
    
    Liability DerivativesDerivatives in
    
    
    
    Fair Value
    
    
    
    
    Fair ValueCash Flow
    
    Balance Sheet
    
    March 31,
    
    
    December 31,
    
    
    Balance Sheet
    
    March 31,
    
    
    December 31,Hedging Relationships
    
    Location
    
    2010
    
    
    2009
    
    
    Location
    
    2010
    
    
    2009Commodity contracts:
    
    Current assets
    
    $
    391,300
    
    
    $
    243,000
    
    
    Current liabilities
    
    $
    (2,600
    )
    
    $
    (2,900
    )Long-term assets
    
    
    355,400
    
    
    
    199,500
    
    
    Long-term liabilities
    
    
    (74,700
    )
    
    
    (31,700
    )Total derivatives
    
    
    
    $
    746,700
    
    
    $
    442,500
    
    
    
    
    $
    (77,300
    )
    
    $
    (34,600
    )
 Effects of Derivative Instruments on Statements of Operations:
 Gain
    
    
    
    
    GainRecognized in OCI on Derivative
    
    
    
    
    Reclassified from OCI into Income(Effective Portion)
    
    
    Location of Gain
    
    (Effective Portion)Derivatives in
    
    Three Months Ended
    
    
    Reclassified from Accumulated
    
    Three Months EndedCash Flow
    
    March 31,
    
    
    March 31,
    
    
    OCI into Income
    
    March 31,
    
    
    March 31,Hedging Relationship
    
    2010
    
    
    2009
    
    
    (Effective Portion)
    
    2010
    
    
    2009Commodity contracts
    
    $
    347,600
    
    
    $
    117,700
    
    
    Natural gas and oil revenue
    
    $
    86,100
    
    
    $
    88,700
    12




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ATLAS AMERICA PUBLIC #9 LTD.
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2010
(Unaudited)
 NOTE 5  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
    
    
    
    
    
    
    100,300
    
    
    $
    7.35
    
    
    $
    306,9002011
    
    
    
    
    
    
    74,800
    
    
    
    6.69
    
    
    
    126,1002012
    
    
    
    
    
    
    53,900
    
    
    
    6.85
    
    
    
    80,4002013
    
    
    
    
    
    
    33,700
    
    
    
    6.82
    
    
    
    29,800$
    543,200
 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
    
    
    7,100
    
    
    $
    7.84
    
    
    $
    29,1002010
    
    
    
    Calls sold
    
    
    7,100
    
    
    
    9.01
    
    
    
    2011
    
    
    
    Puts purchased
    
    
    37,700
    
    
    
    6.20
    
    
    
    57,7002011
    
    
    
    Calls sold
    
    
    37,700
    
    
    
    7.28
    
    
    
    2012
    
    
    
    Puts purchased
    
    
    23,700
    
    
    
    6.22
    
    
    
    20,3002012
    
    
    
    Calls sold
    
    
    23,700
    
    
    
    7.31
    
    
    
    2013
    

    
    
    Puts purchased
    
    
    28,600
    
    
    
    6.23
    
    
    
    14,7002013
    

    
    
    Calls sold
    
    
    28,600
    
    
    
    7.39
    
    
    
    $
    121,800
 Crude Oil Fixed Price Swaps
 Production
    
    
    
    
    
    
    
    
    AveragePeriod Ending
    
    
    
    
    Volumes
    
    
    Fixed Price
    
    
    Fair ValueDecember 31,
    

(Bbl) (1)
    
    

(per Bbl) (1)
    
    

Asset (3)2010
    
    
    
    
    
    
    200
    
    
    $
    97.22
    
    
    $
    2,7002011
    

    
    
    
    
    
    200
    
    
    
    77.46
    
    
    
    5002012
    

    
    
    
    
    
    200
    
    
    
    76.86
    
    
    
    2002013
    
    
    
    
    
    
    100
    
    
    
    77.36
    
    
    
    100$
    3,500
  13




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ATLAS AMERICA PUBLIC #9 LTD.
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2010
(Unaudited)
 NOTE 5  DERIVATIVE INSTRUMENTS (Continued)
 Crude Oil Costless Collars
 Production
    
    
    
    
    
    
    
    
    AveragePeriod Ending
    
    
    Option
    
    Volumes
    
    
    Floor & Cap
    
    
    Fair ValueDecember 31,
    
    
    Type
    

(Bbl) (1)
    
    

(per Bbl) (1)
    
    

Asset (3)2010
    

    
    
    Puts purchased
    
    
    100
    
    
    $
    85.00
    
    
    $
    6002010
    

    
    
    Calls sold
    
    
    100
    
    
    
    112.55
    
    
    
    2011
    
    
    
    Puts purchased
    
    
    100
    
    
    
    67.22
    
    
    
    1002011
    
    
    
    Calls sold
    
    
    100
    
    
    
    89.44
    
    
    
    2012
    
    
    
    Puts purchased
    
    
    100
    
    
    
    65.51
    
    
    
    1002012
    
    
    
    Calls sold
    
    
    100
    
    
    
    91.45
    
    
    
    2013
    
    
    
    Puts purchased
    
    
    100
    
    
    
    65.36
    
    
    
    1002013
    
    
    
    Calls sold
    
    
    100
    
    
    
    93.44
    
    
    
    $
    900Total Net Asset
    
    
    $
    669,400
 
 (1)
    
    MMBTU represents million British Thermal Units. Bbl represents barrels.(2)
    
    Fair value based on forward NYMEX natural gas prices as applicable.(3)
    
    Fair value based on forward WTI crude oil prices as applicable. NOTE 6  FAIR VALUE OF FINANCIAL INSTRUMENTS
  Level 1 
 Level 2 
 Level 3 
 Assets and Liabilities Measured at Fair Value on a Recurring Basis
   14




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ATLAS AMERICA PUBLIC #9 LTD.
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2010
(Unaudited)
 NOTE 6  FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued)
 March 31, 2010
    
    
    December 31, 2009Level 2
    
    
    Total
    
    
    Level 2
    
    
    TotalCommodity-based derivatives
    
    $
    669,400
    
    
    $
    669,400
    
    
    $
    407,900
    
    
    $
    407,900Total
    
    $
    669,400
    
    
    $
    669,400
    
    
    $
    407,900
    
    
    $
    407,900
 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
   NOTE 7  ASSET RETIREMENT OBLIGATION
    15




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ATLAS AMERICA PUBLIC #9 LTD.
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2010
(Unaudited)
 NOTE 7  ASSET RETIREMENT OBLIGATION (Continued)
  Three Months EndedMarch 31,2010
    
    
    2009Asset retirement obligation at beginning of period
    
    $
    884,800
    
    
    $
    744,400Accretion expense
    
    
    13,300
    
    
    
    11,200Asset retirement obligation at end of period
    
    $
    898,100
    
    
    $
    755,600
 
 ITEM 2.
    
    MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR
PLAN OF OPERATIONS (UNAUDITED)
 Forward-Looking Statements
 When used in this Form 10-Q , the words believes, anticipates, expects and similar
expressions are intended to identify forward-looking statements. These risks and uncertainties
could cause actual results to differ materially from the results stated or implied in this
document. Readers are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. We undertake no obligation to publicly release the results
of any revisions to forward-looking statements which we may make to reflect events or circumstances
after the date of this Form 10-Q or to reflect the occurrence of unanticipated events.
 .
 General
     16




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Results of Operations
  Three Months EndedMarch 31,2010
    
    
    2009Production revenues (in thousands):Gas
    
    $
    340
    
    
    $
    376Oil
    
    
    11
    
    
    
    14Total
    
    $
    351
    
    
    $
    390Production volumes:Gas (mcf/day) (1)
    
    
    547
    
    
    
    441Oil (bbls/day) (1)
    
    
    2
    
    
    
    3Total (mcfe/day) (1)
    
    
    559
    
    
    
    459Average sales prices:Gas (per mcf) (1)
    
    $
    6.91
    
    
    $
    9.48Oil (per bbl) (1)
    
    $
    68.06
    
    
    $
    58.59Average production costs:As a percent of revenues
    
    
    39
    %
    
    
    38
    %Per mcfe (1)
    
    $
    2.74
    
    
    $
    3.60Depletion per mcfe
    
    $
    3.69
    
    
    $
    2.56
 
 (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. Natural Gas Revenues.
  17




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Oil Revenues.
 Expenses.
   Liquidity and Capital Resources
      18




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##### Table of Contents



Critical Accounting Policies
  
 ITEM 4.
    
    CONTROLS AND PROCEDURES
 Evaluation of Disclosure Controls and Procedures
     19




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PART II. OTHER INFORMATION
 
 ITEM 1.
    
    LEGAL PROCEEDINGS
   
 ITEM 6.
    
    EXHIBITS
 EXHIBIT INDEX
 Exhibit No.
    
    Description4.0
    
    
    Amended and Restated Certificate and Agreement of Limited Partnership for Atlas
America Public #9 Ltd. (1)10.1
    
    
    Drilling and Operating Agreement for Atlas America Public #9 Ltd. (1)31.1
    
    
    Certification Pursuant to Rule 13a-14/15(d)-1431.2
    
    
    Certification Pursuant to Rule 13a-14/15(d)-1432.1
    
    
    Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to
Section 906 of the Sarbanes-Oxley
Act of 200232.2
    
    
    Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to
Section 906 of the Sarbanes-Oxley
Act of 2002
 
 (1)
    
    Filed on September 8, 2000 in the Form SB-2 Registration Statement dated September 8, 2000, File No. 333-44130  20




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SIGNATURES
   Atlas Resources, LLC, Managing General PartnerDate:  May 17, 2010
    By:
    /s/ Freddie M. KotekFreddie M. Kotek, Chairman of the Board of Directors,
 Chief Executive Officer and President  Date:  May 17, 2010
    By:
    /s/ Freddie M. KotekFreddie M. Kotek, Chairman of the Board of Directors, 
Chief Executive Officer and PresidentDate:  May 17, 2010
    By:
    /s/ Matthew A. JonesMatthew A. Jones, Chief Financial OfficerDate:  May 17, 2010
    By:
    /s/ Sean P. McGrathSean P. McGrath, Chief Accounting Officer  21