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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 June 30, 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 000-51275
 ATLAS AMERICA PUBLIC #14-2004 L.P.
  Delaware
    
    86-1111314(State or other jurisdiction of
    
    (I.R.S. Employerincorporation or organization)
    
    Identification No.)Westpointe Corporate Center One1550 Coraopolis Heights Rd. 2nd FloorMoon Township, PA
    
    15108(Address of principal executive offices)
    
    (zip code)
 (412) 262-2830
 Yes þ No o
 Yes
o No o
  Large accelerated filer o
    
    Accelerated filer o
    
    Non-accelerated filer o
    
    Smaller reporting company þ
 Yes o No þ




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##### 



ATLAS AMERICA PUBLIC #14-2004 L.P.
(A Delaware Limited Partnership)
INDEX TO QUARTERLY REPORT
ON FORM 10-Q
 PAGEPART I. FINANCIAL INFORMATIONItem 1: Financial StatementsBalance Sheets as of June 30, 2010 and December 31, 2009
    
    
    3Statements of Operations for the Three Months and Six Months ended June 30, 2010 and 2009
    
    
    4Statement of Changes in Partners Capital for the Six Months ended June 30, 2010
    
    
    5Statements of Cash Flows for the Six Months ended June 30, 2010 and 2009
    
    
    6Notes to Financial Statements
    
    
    7-17Item 2: Managements Discussion and Analysis of Financial Condition and Results of Operations
    
    
    17-21Item 4: Controls and Procedures
    
    
    21PART II. OTHER INFORMATIONItem 1: Legal Proceedings
    
    
    21Item 6: Exhibits
    
    
    21SIGNATURES
    
    
    22CERTIFICATIONSEX-31.1EX-31.2EX-32.1EX-32.2
   2




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PART 1. FINANCIAL INFORMATION
 
 ITEM 1. FINANCIAL STATEMENTS
ATLAS AMERICA PUBLIC #14-2004 L.P.
 
 BALANCE SHEETS
 June 30,
    
    
    December 31,2010
    
    
    2009(Unaudited)ASSETSCurrent assets:Cash and cash equivalents
    
    $
    277,900
    
    
    $
    500,900Accounts receivable  affiliate
    
    
    762,100
    
    
    
    762,300Short-term hedge receivable due from affiliate
    
    
    702,300
    
    
    
    576,300Total current assets
    
    
    1,742,300
    
    
    
    1,839,500Oil and gas properties, net
    
    
    16,790,500
    
    
    
    17,660,500Long-term hedge receivable due from affiliate
    
    
    910,900
    
    
    
    473,600$
    19,443,700
    
    
    $
    19,973,600LIABILITIES AND PARTNERS CAPITALCurrent liabilities:Accrued liabilities
    
    $
    55,200
    
    
    $
    51,900Short-term hedge liability due to affiliate
    
    
    12,300
    
    
    
    6,900Total current liabilities
    
    
    67,500
    
    
    
    58,800Asset retirement obligation
    
    
    2,673,900
    
    
    
    2,596,000Long-term hedge liability due to affiliate
    
    
    290,800
    
    
    
    73,800Partners capital:Managing general partner
    
    
    5,406,700
    
    
    
    5,658,400Limited partners (5,256.95 units)
    
    
    9,939,700
    
    
    
    10,957,800Accumulated other comprehensive income
    
    
    1,065,100
    
    
    
    628,800Total partners capital
    
    
    16,411,500
    
    
    
    17,245,000$
    19,443,700
    
    
    $
    19,973,600
   3




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ATLAS AMERICA PUBLIC #14-2004 L.P.
 
 STATEMENTS OF OPERATIONS  (Unaudited)
 Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009REVENUESNatural gas and oil
    
    $
    737,700
    
    
    $
    897,100
    
    
    $
    1,667,700
    
    
    $
    2,244,500Interest income
    
    
    100
    
    
    
    300
    
    
    
    300
    
    
    
    900Total revenues
    
    
    737,800
    
    
    
    897,400
    
    
    
    1,668,000
    
    
    
    2,245,400COSTS AND EXPENSESProduction
    
    
    434,500
    
    
    
    447,700
    
    
    
    846,000
    
    
    
    898,900Depletion
    
    
    389,400
    
    
    
    427,700
    
    
    
    870,000
    
    
    
    875,800Accretion of asset retirement obligation
    
    
    38,900
    
    
    
    34,300
    
    
    
    77,900
    
    
    
    68,500General and administrative
    
    
    69,700
    
    
    
    71,100
    
    
    
    139,200
    
    
    
    134,100Total expenses
    
    
    932,500
    
    
    
    980,800
    
    
    
    1,933,100
    
    
    
    1,977,300Net (loss) earnings
    
    $
    (194,700
    )
    
    $
    (83,400
    )
    
    $
    (265,100
    )
    
    $
    268,100Allocation of net (loss) earnings:Managing general partner
    
    $
    (8,700
    )
    
    $
    37,300
    
    
    $
    40,100
    
    
    $
    229,900Limited partners
    
    $
    (186,000
    )
    
    $
    (120,700
    )
    
    $
    (305,200
    )
    
    $
    38,200Net (loss) earnings per limited partnership unit
    
    $
    (35
    )
    
    $
    (23
    )
    
    $
    (58
    )
    
    $
    7
   4




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ATLAS AMERICA PUBLIC #14-2004 L.P.
 
 STATEMENT OF CHANGES IN PARTNERS CAPITAL  FOR THE SIX MONTHS ENDED  June 30, 2010  (Unaudited)
 AccumulatedManaging
    
    
    
    
    
    
    OtherGeneral
    
    
    Limited
    
    
    ComprehensivePartner
    
    
    Partners
    
    
    Income
    
    
    TotalBalance at January 1, 2010
    
    $
    5,658,400
    
    
    $
    10,957,800
    
    
    $
    628,800
    
    
    $
    17,245,000Participation in revenues and expenses:Net production revenues
    
    
    287,600
    
    
    
    534,100
    
    
    
    
    
    
    
    821,700Interest income
    
    
    100
    
    
    
    200
    
    
    
    
    
    
    
    300Depletion
    
    
    (171,600
    )
    
    
    (698,400
    )
    
    
    
    
    
    
    (870,000
    )Accretion of asset retirement obligation
    
    
    (27,300
    )
    
    
    (50,600
    )
    
    
    
    
    
    
    (77,900
    )General and administrative
    
    
    (48,700
    )
    
    
    (90,500
    )
    
    
    
    
    
    
    (139,200
    )Net earnings (loss)
    
    
    40,100
    
    
    
    (305,200
    )
    
    
    
    
    
    
    (265,100
    )Other comprehensive income
    
    
    
    
    
    
    
    
    
    
    436,300
    
    
    
    436,300Subordination
    
    
    (116,000
    )
    
    
    116,000
    
    
    
    
    
    
    
    Distributions to partners
    
    
    (175,800
    )
    
    
    (828,900
    )
    
    
    
    
    
    
    (1,004,700
    )Balance at June 30, 2010
    
    $
    5,406,700
    
    
    $
    9,939,700
    
    
    $
    1,065,100
    
    
    $
    16,411,500
   5




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ATLAS AMERICA PUBLIC #14-2004 L.P.
 
 STATEMENTS OF CASH FLOWS  (Unaudited)
 Six Months EndedJune 30,2010
    
    
    2009Cash flows from operating activities:Net (loss) earnings
    
    $
    (265,100
    )
    
    $
    268,100Adjustments to reconcile net (loss) earnings to
net cash provided by operating activities:Depletion
    
    
    870,000
    
    
    
    875,800Non-cash loss on derivative value
    
    
    95,400
    
    
    
    122,800Accretion of asset retirement obligation
    
    
    77,900
    
    
    
    68,500Decrease in accounts receivable  affiliate
    
    
    200
    
    
    
    176,600Increase (decrease) in accrued liabilities
    
    
    3,300
    
    
    
    (12,300
    )Net cash provided by operating activities
    
    
    781,700
    
    
    
    1,499,500Cash flows from investing activities:Proceeds from sale of tangible equipment
    
    
    
    
    
    
    2,000Net cash provided by investing activities
    
    
    
    
    
    
    2,000Cash flows from financing activities:Distribution to partners
    
    
    (1,004,700
    )
    
    
    (2,228,800
    )Net cash used in financing activities
    
    
    (1,004,700
    )
    
    
    (2,228,800
    )Net decrease in cash and cash equivalents
    
    
    (223,000
    )
    
    
    (727,300
    )Cash and cash equivalents at beginning of period
    
    
    500,900
    
    
    
    1,242,100Cash and cash equivalents at end of period
    
    $
    277,900
    
    
    $
    514,800
   6




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ATLAS AMERICA PUBLIC #14-2004 L.P.
 
 NOTES TO FINANCIAL STATEMENTS  June 30, 2010
 (Unaudited)
 NOTE 1  BASIS OF PRESENTATION
   NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 Use of Estimates
   Fair Value of Financial Instruments
   7




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ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
June 30, 2010
(Unaudited)
 NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 Oil and Gas Properties
   Impairment of Long-Lived Assets
      8




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ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
June 30, 2010
(Unaudited)
 NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 Working Interest
  Revenue Recognition
    9




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ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
June 30, 2010
(Unaudited)
 NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 Comprehensive (Loss) Income
  Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Net (loss) earnings
    
    $
    (194,700
    )
    
    $
    (83,400
    )
    
    $
    (265,100
    )
    
    $
    268,100Other comprehensive (loss) income:Unrealized holding (loss) gain
on hedging contracts
    
    
    (72,300
    )
    
    
    (9,900
    )
    
    
    766,000
    
    
    
    (51,100
    )Less: reclassification
adjustment for gains realized in
net (loss) earnings
    
    
    (123,100
    )
    
    
    (221,400
    )
    
    
    (329,700
    )
    
    
    (548,600
    )Total other comprehensive (loss) income
    
    
    (195,400
    )
    
    
    (231,300
    )
    
    
    436,300
    
    
    
    (599,700
    )Comprehensive (loss) income
    
    $
    (390,100
    )
    
    $
    (314,700
    )
    
    $
    171,200
    
    
    $
    (331,600
    )
 Recently Adopted Accounting Standards
     10




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ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
June 30, 2010
(Unaudited)
 NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 Recently Issued Accounting Standards
  NOTE 3  OIL AND GAS PROPERTIES
  June 30,
    
    
    December 31,2010
    
    
    2009Natural gas and oil properties:Proved properties:Leasehold interest
    
    $
    1,417,900
    
    
    $
    1,417,900Wells and related equipment
    
    
    66,346,900
    
    
    
    66,346,90067,764,800
    
    
    
    67,764,800Accumulated depletion
    
    
    (50,974,300
    )
    
    
    (50,104,300
    )$
    16,790,500
    
    
    $
    17,660,500
 NOTE 4  ASSET RETIREMENT OBLIGATIONS
    11




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ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
June 30, 2010
 (Unaudited)
 NOTE 4  ASSET RETIREMENT OBLIGATIONS (Continued)
  Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Asset retirement obligation at beginning of
period
    
    $
    2,635,000
    
    
    $
    2,316,700
    
    
    $
    2,596,000
    
    
    $
    2,282,500Accretion expense
    
    
    38,900
    
    
    
    34,300
    
    
    
    77,900
    
    
    
    68,500Asset retirement obligation at end of period
    
    $
    2,673,900
    
    
    $
    2,351,000
    
    
    $
    2,673,900
    
    
    $
    2,351,000
 NOTE 5  DERIVATIVE INSTRUMENTS
     12




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ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
June 30, 2010
(Unaudited)
 NOTE 5  DERIVATIVE INSTRUMENTS (Continued)
  Fair Value of Derivative Instruments:
 Asset Derivatives
    
    
    Liability DerivativesDerivatives in
    
    
    
    Fair Value
    
    
    
    
    Fair ValueCash Flow
    
    Balance Sheet
    
    June 30,
    
    
    December 31,
    
    
    Balance Sheet
    
    June 30,
    
    
    December 31,Hedging Relationships
    
    Location
    
    2010
    
    
    2009
    
    
    Location
    
    2010
    
    
    2009Commodity contracts:
    
    Current assets
    
    $
    702,300
    
    
    $
    576,300
    
    
    Current liabilities
    
    $
    (12,300
    )
    
    $
    (6,900
    )Long-term assets
    
    
    910,900
    
    
    
    473,600
    
    
    Long-term liabilities
    
    
    (290,800
    )
    
    
    (73,800
    )Total derivatives
    
    
    
    $
    1,613,200
    
    
    $
    1,049,900
    
    
    
    
    $
    (303,100
    )
    
    $
    (80.700
    )
 Effects of Derivative Instruments on Statement of Operations:
 Loss
    
    
    
    
    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
    
    June 30,
    
    
    June 30,
    
    
    OCI into Income
    
    June 30,
    
    
    June 30,Hedging Relationship
    
    2010
    
    
    2009
    
    
    (Effective Portion)
    
    2010
    
    
    2009Commodity contracts
    
    $
    (72,300
    )
    
    $
    (9,900
    )
    
    Natural gas and oil revenue
    
    $
    123,100
    
    
    $
    221,400
 Gain/(Loss)
    
    
    
    
    GainRecognized in OCI on Derivative
    
    
    
    
    Reclassified from OCI into Income(Effective Portion)
    
    
    Location of Gain
    
    (Effective Portion)Derivatives in
    
    Six Months Ended
    
    
    Reclassified from Accumulated
    
    Six Months EndedCash Flow
    
    June 30,
    
    
    June 30,
    
    
    OCI into Income
    
    June 30,
    
    
    June 30,Hedging Relationship
    
    2010
    
    
    2009
    
    
    (Effective Portion)
    
    2010
    
    
    2009Commodity contracts
    
    $
    766,000
    
    
    $
    (51,100
    )
    
    Natural gas and oil revenue
    
    $
    329,700
    
    
    $
    548,600
  Natural Gas Fixed Price Swaps
 Production
    
    
    
    
    
    AveragePeriod Ending
    
    Volumes
    
    
    Fixed Price
    
    
    Fair ValueDecember 31,
    
    (MMbtu)(1)
    
    
    (per MMbtu)(1)
    
    
    Asset(2)2010
    
    
    160,800
    
    
    $
    7.238
    
    
    $
    387,2002011
    
    
    219,500
    
    
    
    6.839
    
    
    
    327,5002012
    
    
    147,200
    
    
    
    7.165
    
    
    
    214,5002013
    
    
    82,900
    
    
    
    7.011
    
    
    
    89,1002014
    
    
    
    
    
    
    
    
    
    
    $
    1,018,300
  13




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ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
June 30, 2010
(Unaudited)
 NOTE 5  DERIVATIVE INSTRUMENTS (Continued)
 Natural Gas Costless Collars
 Production
    
    
    
    
    
    
    
    AveragePeriod Ending
    
    Option
    
    Volumes
    
    
    Floor & Cap
    
    
    Fair ValueDecember 31,
    
    Type
    
    (MMbtu)(1)
    
    
    (per MMbtu)(1)
    
    
    Asset (Liability)(2)2010
    
    Puts purchased
    
    
    21,600
    
    
    $
    6.123
    
    
    $
    36,5002010
    
    Calls sold
    
    
    21,600
    
    
    
    7.327
    
    
    
    (3,100
    )2011
    
    Puts purchased
    
    
    101,300
    
    
    
    6.435
    
    
    
    162,8002011
    
    Calls sold
    
    
    101,300
    
    
    
    7.545
    
    
    
    (30,000
    )2012
    
    Puts purchased
    
    
    91,400
    
    
    
    6.012
    
    
    
    134,7002012
    
    Calls sold
    
    
    91,400
    
    
    
    7.181
    
    
    
    (75,700
    )2013
    
    Puts purchased
    
    
    106,700
    
    
    
    6.010
    
    
    
    177,9002013
    
    Calls sold
    
    
    106,700
    
    
    
    7.173
    
    
    
    (129,300
    )2014
    
    Puts purchased
    
    
    37,100
    
    
    
    5.860
    
    
    
    62,2002014
    
    Calls sold
    
    
    37,100
    
    
    
    6.961
    
    
    
    (58,400
    )$
    277,600
 Crude Oil Fixed Price Swaps
 Production
    
    
    
    
    
    AveragePeriod Ending
    
    Volumes
    
    
    Fixed Price
    
    
    Fair ValueDecember 31,
    
    (Bbl)(1)
    
    
    (per Bbl)(1)
    
    
    Asset(3)2010
    
    
    200
    
    
    $
    97.123
    
    
    $
    4,9002011
    
    
    400
    
    
    
    88.304
    
    
    
    3,2002012
    
    
    300
    
    
    
    87.901
    
    
    
    1,8002013
    
    
    100
    
    
    
    88.211
    
    
    
    5002014
    
    
    
    
    
    
    
    
    
    
    $
    10,400
  14




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ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
June 30, 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 (Liability)(3)2010
    
    Puts purchased
    
    
    200
    
    
    $
    85.000
    
    
    $
    1,5002010
    
    Calls sold
    
    
    200
    
    
    
    112.350
    
    
    
    (100
    )2011
    
    Puts purchased
    
    
    200
    
    
    
    77.381
    
    
    
    2,3002011
    
    Calls sold
    
    
    200
    
    
    
    101.642
    
    
    
    (1,000
    )2012
    
    Puts purchased
    
    
    200
    
    
    
    76.756
    
    
    
    2,1002012
    
    Calls sold
    
    
    200
    
    
    
    102.181
    
    
    
    (1,300
    )2013
    
    Puts purchased
    
    
    50
    
    
    
    76.757
    
    
    
    7002013
    
    Calls sold
    
    
    50
    
    
    
    103.103
    
    
    
    (400
    )2014
    
    Puts purchased
    
    
    
    
    
    
    
    
    
    
    2014
    
    Calls sold
    
    
    
    
    
    
    
    
    
    
    $
    3,800Total Net Asset
    
    
    $
    1,310,100
 
 (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
   15




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ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
June 30, 2010
(Unaudited)
 NOTE 6  FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued)
 Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
  NOTE 7  CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
  
    
    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 and six months ended June 30, 2010
were $48,500 and $97,000, respectively. Administrative costs incurred for the three
months and six months ended June 30, 2009 were $49,100 and $98,700, respectively.
 
    
    Monthly well supervision fees which are included in production expenses in the
Partnerships statements of operations are payable at $318 per well per month, for
operating and maintaining the wells. Well supervision fees incurred for the three months
and six months June 30, 2010 were $205,400 and $411,000, respectively. Well supervision
fees incurred for the three months and six months ended June 30, 2009 were $208,100 and
$418,400, respectively.
 
    
    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 and six months ended June 30, 2010
were $79,600 and $178,800, respectively. Transportation fees incurred for the three
months and six months ended June 30, 2009 were $101,400 and $232,100, respectively.
  Subordination by Managing General Partner
   16




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ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
June 30, 2010
(Unaudited)
 NOTE 8  COMMITMENTS AND CONTINGENCIES
 Legal Proceedings
   
 ITEM 2.
    
    MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS 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. There are risks and uncertainties
that 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.
 BUSINESS OVERVIEW
    17




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Results of Operations
  Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Production revenues (in thousands):Gas
    
    $
    687
    
    
    $
    826
    
    
    $
    1,564
    
    
    $
    2,117Oil
    
    
    51
    
    
    
    71
    
    
    
    104
    
    
    
    128Total
    
    $
    738
    
    
    $
    897
    
    
    $
    1,668
    
    
    $
    2,245Production volumes:Gas (mcf/day) (1)
    
    
    1,150
    
    
    
    1,362
    
    
    
    1,300
    
    
    
    1,425Oil (bbls/day) (1)
    
    
    7
    
    
    
    15
    
    
    
    8
    
    
    
    13Total (mcfe/day) (1)
    
    
    1,192
    
    
    
    1,452
    
    
    
    1,348
    
    
    
    1,503Average sales prices: (2)Gas (per mcf) (1) (3)
    
    $
    7.42
    
    
    $
    8.19
    
    
    $
    7.04
    
    
    $
    8.68Oil (per bbl) (1) (4)
    
    $
    79.14
    
    
    $
    51.57
    
    
    $
    75.03
    
    
    $
    54.60Average production costs:As a percent of revenues
    
    
    59
    %
    
    
    50
    %
    
    
    51
    %
    
    
    40
    %Per mcfe (1)
    
    $
    4.00
    
    
    $
    3.39
    
    
    $
    3.47
    
    
    $
    3.30Depletion per mcfe
    
    $
    3.59
    
    
    $
    3.24
    
    
    $
    3.57
    
    
    $
    3.22
 
 (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
losses previously recognized into (loss) earnings and dividing by the total volume for
the period. Previously recognized derivative losses were $89,500 and $189,200 for the
three months ended June 30, 2010 and 2009, respectively. Previously recognized
derivative losses were $93,900 and $122,800 for the six months ended June 30, 2010 and
2009, respectively. The derivative losses are included in other comprehensive (loss)
income and resulted from prior period impairment charges.(4)
    
    Average oil prices are calculated by including in total revenue derivative
losses previously recognized into (loss) earnings and dividing by the total volume for
the period. Previously recognized derivative losses were $800 for the three months
ended June 30, 2010. Previously recognized derivative losses were $1,500 for the six
months ended June 30, 2010. The derivative losses are included in other comprehensive
(loss) income and resulted from prior period impairment charges. Natural Gas Revenues.
  18




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Oil Revenues.
  Expenses.
   Liquidity and Capital Resources
     19




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Subordination by Managing General Partner
  CRITICAL ACCOUNTING POLICIES AND ESTIMATES
  Fair Value of Financial Instruments
  Level  1 
 Level 2 
 Level 3 
   20




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ITEM 4. CONTROLS AND PROCEDURES
    
 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 Public #14-2004 L.P. (1)10.1
    
    
    Drilling and Operating Agreement for Atlas America Public #14-2004 L.P. (1)31.1
    
    
    Rule 13a-14(a)/15d-14(a) Certification.31.2
    
    
    Rule 13a-14(a)/15d-14(a) Certification.32.1
    
    
    Section 1350 Certification.32.2
    
    
    Section 1350 Certification.
 
 (1)
    
    Filed on June 30, 2004 in the Form S-1 Registration Statement dated June 30, 2004, File No. 000-51275  21




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SIGNATURES
  Atlas America Public #14-2004 L.P.Atlas Resources, LLC, Managing General PartnerDate: August 16, 2010
    
    By:
    
    /s/ FREDDIE M. KOTEKFreddie M. Kotek,Chairman of the Board of Directors,Chief Executive Officer and PresidentDate: August 16, 2010
    
    By:
    
    /s/ MATTHEW A. JONESMatthew A. JonesChief Financial Officer
  22