|                                                                                                                                                                                    | **United                  States**                                                                                                              |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                    |                                                                                                                                            |
|                                                                                                                                                                                    | **Securities                  and Exchange Commission**                                                                                         |
|                                                                                                                                                                                    |                                                                                                                                            |
|                                                                                                                                                                                    | **Washington,                  D.C. 20549**                                                                                                     |
|                                                                                                                                                                                    |                                                                                                                                            |
|                                                                                                                                                                                    | **Form                  10 QSB**                                                                                                                |
|                                                                                                                                                                                    |                                                                                                                                            |
| (Mark                  One)                                                                                                                                                             |
|                                                                                                                                                                                    |                                                                                                                                            |
| **R**                                                                                                                                                                                   | **QUARTERLY                  REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE                  ACT OF                  1934** |
|                                                                                                                                                                                    |                                                                                                                                            |
|                                                                                                                                                                                    | For                  the quarterly period ended June 30, 2007                                                                                   |
|                                                                                                                                                                                    |                                                                                                                                            |
| o                                                                                                                                                                                       | **TRANSITION                  REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT                  OF                  1934**      |
|                                                                                                                                                                                    |                                                                                                                                            |
|                                                                                                                                                                                    |                                                                                                                                            |
|                                                                                                                                                                                    | For                  the transition period from _____ to _____                                                                                  |
|                                                                                                                                                                                    |                                                                                                                                            |
|                                                                                                                                                                                    | Commission                  file number 0-51271                                                                                                 |
|                                                                                                                                                                                    |                                                                                                                                            |
|                                                                                                                                                                                    |                                                                                                                                            |
|                                                                                                                                                                                    | **ATLAS                  AMERICA SERIES 25-2004 (B) L.P.**                                                                                      |
|                                                                                                                                                                                    | (Name                  of small business issuer in its charter)                                                                                 |
|                                                                                                                                                                                    |                                                                                                                                            |
|                                                                                                                                                                                    |                                                                                                                                            |
|                                                                                                                                                                                    |                                                                                                                                            |
| **Delaware**                                                                                                                                                                            | **34-1980376**                                                                                                                                  |
| (State                  or other jurisdiction ofincorporation                  or organization)                                                                                         | (I.R.S.                  EmployerIdentification                  No.)                                                                           |
|                                                                                                                                                                                    |                                                                                                                                            |
| Westpointe                  Corporate Center One                                                                                                                                        |                                                                                                                                            |
| 1550                  Coraopolis Heights Road, 2nd Floor                                                                                                                                |                                                                                                                                            |
| Moon                  Township, PA                                                                                                                                                      | 15108                                                                                                                                           |
| (Address                  of principal executive offices)                                                                                                                               | (zip                  code)                                                                                                                     |
|                                                                                                                                                                                    |                                                                                                                                            |
| Issuer’s                  telephone number, including area code: **(412)                  262-2830**                                                                              |
|                                                                                                                                                                                    |
| Indicate                  by check mark whether the registrant (1) filed all reports required                  to be                  filed by Section 13 or 15 (d) of the Exchange Act |
| during                  the past 12 months (or for such shorter period that the registrant                  was                  required to file such reports),                        |
| and                  (2) has been subject to such filing requirements for the past 90                  days.                  Yes** ****R**                  No o                  |
|                                                                                                                                                                                    |
| Indicate                  by check mark whether the registrant is a shell company (as defined                  in                  Rule 12b-2 of the Exchange                           |
| Act).Yes                  o                  No **R**                                                                                                                                   |
|                                                                                                                                                                                    |
| Transitional                  Small Business Disclosure Format (check one): Yes o                  No **R**                                                                             |

**ATLAS        AMERICA SERIES 25-2004 (B) L.P.**

**(A        Delaware Limited Partnership)**

**INDEX        TO QUARTERLY REPORT**

**ON        FORM 10-QSB**

| **PART                  I.**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | **FINANCIAL                  INFORMATION**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | **PAGE** |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
| Item                  1:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Financial                  Statements                                                                                                                                                         |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | Balance                  Sheets as of June 30, 2007 and December 31,                  2006                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 3        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | Statements                  of Net Earnings for the Three Months and Six Months ended June                  30, 2007                  and 2006                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 4        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | Statement                  of Partners’ Capital Accounts for the Six Months ended June 30,                  2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 5        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | Statements                  of Cash Flows for the Six Months ended June 30, 2007 and                  2006                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 6        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | Notes                  to Financial                  Statements                                                                                                                               | 7-13     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
| Item                  2:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Management’s                  Discussion and Analysis of Financial Condition or Plan of                  Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 13-17    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
| Item                  3:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Controls                  and                  Procedures                                                                                                                                     | 17       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
| **PART                  II.**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | **OTHER                  INFORMATION**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
| Item                  6:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Exhibits                                                                                                                                                                                      | 17       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
| **SIGNATURES                                                                                                                                                   **     | 18     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
| **CERTIFICATIONS                                                                                                                                                   ** | 19-22  |

**PART        I**

**ITEM        1.  FINANCIAL STATEMENTS**

**ATLAS        AMERICA SERIES 25-2004(B) L.P.**

**BALANCE        SHEETS**

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | **June                  30,** |       |   | **December                  31,** |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|------------|--------|-----------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | **2007**                      |       |   | **2006**                          |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | **(Unaudited)**               |       |   | **(Audited)**                     |   |
| **ASSETS**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                          |       |   |                              |   |
| Current                  Assets:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                          |       |   |                              |   |
| Cash                  and cash                  equivalents                                                                                                                          |   | $                             | 329,700    |   |                              | $      | — |   |
| Accounts                  receivable-affiliate                                                                                                                                       |   |                          | 1,049,600  |   |                              |   | 1,853,600 |   |
| Short-term                  hedge receivable due from                  affiliate                                                                                                     |   |                          | 393,300    |   |                              |   | 1,089,600 |   |
| Total                  current                  assets                                                                                                                                                                       |   |                          | 1,772,600  |   |                              |   | 2,943,200 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                          |       |   |                              |   |   |   |
| Oil                  and gas properties,                  net                                                                                                                        |   |                          | 18,415,300 |   |                              |   | 19,512,800 |   |
| Long-term                  hedge receivable due from                  affiliate                                                                                                      |   |                          | 207,300    |   |                              |   | 940,600 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $                             | 20,395,200 |   |                              | $      | 23,396,600 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                          |       |   |                              |   |   |   |
| **LIABILITIES                  AND PARTNERS’ CAPITAL**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                          |       |   |                              |   |   |   |
| Current                  liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                          |       |   |                              |   |   |   |
| Accrued                  liabilities                                                                                                                                                 |   | $                             | 9,300      |   |                              | $      | 18,000 |   |
| Short-term                  hedge liability due to                  affiliate                                                                                                        |   |                          | 39,500     |   |                              |   | 6,800 |   |
| Total                  current                  liabilities                                                                                                                                                                  |   |                          | 48,800     |   |                              |   | 24,800 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                          |       |   |                              |   |   |   |
| Asset                  retirement                  obligation                                                                                                                        |   |                          | 1,512,100  |   |                              |   | 1,468,100 |   |
| Long-term                  hedge liability due to                  affiliate                                                                                                         |   |                          | 462,100    |   |                              |   | 151,300 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                          |       |   |                              |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                          |       |   |                              |   |   |   |
| Partners’                  capital:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                          |       |   |                              |   |   |   |
| Managing                  general                  partner                                                                                                                           |   |                          | 5,487,900  |   |                              |   | 6,037,800 |   |
| Limited                  partners (1,265.38                  units)                                                                                                                  |   |                          | 13,735,900 |   |                              |   | 15,304,200 |   |
| Accumulated                  other comprehensive (loss)                  income                                                                                                      |   |                          | (851,600   | )      |                              |   | 410,400 |   |
| Total                  partners'                  capital                                                                                                                                                                    |   |                          | 18,372,200 |   |                              |   | 21,752,400 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $                             | 20,395,200 |   |                              | $      | 23,396,600 |   |

**ATLAS        AMERICA SERIES 25-2004(B) L.P.**

**STATEMENTS        OF NET EARNINGS**

**(Unaudited)**

|                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | **Three                  Months Ended** |    |   | **Six                  Months Ended** |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|---------|--------|---------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | **June                  30,**           |    |   | **June                  30,**         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | **2007**                                |    |   | **2006**                              |   |   | **2007** |   |   | **2006** |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                    |    |   |                                  |   |   |   |   |   |   |   |
| **REVENUES:**                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                    |    |   |                                  |   |   |   |   |   |   |   |
| Natural                  gas and                  oil                                                                       |   | $                                       | 967,900 |   |                                  | $      | 2,048,100 |   |   | $ | 2,283,100 |   |   | $ | 5,095,600 |   |
| Total                  revenues                                                                                                                                     |   |                                    | 967,900 |   |                                  |   | 2,048,100 |   |   |   | 2,283,100 |   |   |   | 5,095,600 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                    |    |   |                                  |   |   |   |   |   |   |   |   |   |   |   |
| **COSTS                  AND EXPENSES:**                                                                                                                                                                                                                                                                                                                                                                                                               |   |                                    |    |   |                                  |   |   |   |   |   |   |   |   |   |   |   |
| Production                                                                                                                  |   |                                    | 342,100 |   |                                  |   | 497,700 |   |   |   | 694,200 |   |   |   | 895,900 |   |
| Depletion                                                                                                                   |   |                                    | 491,100 |   |                                  |   | 923,300 |   |   |   | 1,110,100 |   |   |   | 2,150,400 |   |
| Accretion                  of asset retirement obligation                                                                                                                                                                                                                                                                                                                                                                                              |   |                                    | 22,000  |   |                                  |   | 15,800 |   |   |   | 44,000 |   |   |   | 31,700 |   |
| General                  and                  administrative                                                                |   |                                    | 44,200  |   |                                  |   | 45,900 |   |   |   | 87,400 |   |   |   | 87,300 |   |
| Total                  expenses                                                                                                                                     |   |                                    | 899,400 |   |                                  |   | 1,482,700 |   |   |   | 1,935,700 |   |   |   | 3,165,300 |   |
| **Net                  earnings                                                               **                            |   | $                                       | 68,500  |   |                                  | $      | 565,400 |   |   | $ | 347,400 |   |   | $ | 1,930,300 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                    |    |   |                                  |   |   |   |   |   |   |   |   |   |   |   |
| **Allocation                  of net (loss) earnings:**                                                                                                                                                                                                                                                                                                                                                                                                |   |                                    |    |   |                                  |   |   |   |   |   |   |   |   |   |   |   |
| Managing                  general                  partner                                                                  |   | $                                       | 104,800 |   |                                  | $      | 356,800 |   |   | $ | 304,900 |   |   | $ | 1,046,400 |   |
| Limited                  partners                                                                                           |   | $                                       | (36,300 | )      |                                  | $      | 208,600 |   |   | $ | 42,500 |   |   | $ | 883,900 |   |
| Net                  (loss) earnings per limited partnership unit                                                                                                                                                                                                                                                                                                                                                                                      |   | $                                       | (28     | )      |                                  | $      | 165 |   |   | $ | 34 |   |   | $ | 699 |   |

**ATLAS        AMERICA SERIES 25-2004(B) L.P.**

**STATEMENT        OF PARTNERS’ CAPITAL ACCOUNTS**

**FOR        SIX MONTHS ENDED June 30, 2007**

**(Unaudited)**

|                                                                                                                                                                                                                                                                                                                                                                                                              |   |         |      |   |         |   |       | **Accumulated**                    |   |   |       |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|-----------|--------|--------------|--------|------------|------------------------------------|--------|--------|------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                              |   | **Managing** |      |   |         |   |       | **Other**                          |   |   |       |   |
|                                                                                                                                                                                                                                                                                                                                                                                                              |   | **General**  |      |   | **Limited**  |   |       | **Comprehensive**                  |   |   |       |   |
|                                                                                                                                                                                                                                                                                                                                                                                                              |   | **Partner**  |      |   | **Partners** |   |       | **Income                  (Loss)** |   |   | **Total**  |   |
|                                                                                                                                                                                                                                                                                                                                                                                                              |   |         |      |   |         |   |       |                               |   |   |       |   |
| **Balance                  at January 1, 2007**                                                                                                                                                                                                                                                                                                                                                                   |   | $            | 6,037,800 |   |         | $      | 15,304,200 |                               |   | $      | 410,400    |   |   | $ | 21,752,400 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                              |   |         |      |   |         |   |       |                               |   |   |       |   |   |   |   |   |
| Participation                  in revenues and expenses:                                                                                                                                                                                                                                                                                                                                                          |   |         |      |   |         |   |       |                               |   |   |       |   |   |   |   |   |
| Net                  production                  revenues                                                                                          |   |         | 556,100   |   |         |   | 1,032,800  |                               |   |   | —    |   |   |   | 1,588,900 |   |
| Depletion                                                                                                                                          |   |         | (205,200  | )      |         |   | (904,900   | )                                  |   |   | —    |   |   |   | (1,110,100 | ) |
| Accretion                  of asset retirement obligation                                                                                                                                                                                                                                                                                                                                                         |   |         | (15,400   | )      |         |   | (28,600    | )                                  |   |   | —    |   |   |   | (44,000 | ) |
| General                  and                  administrative                                                                                       |   |         | (30,600   | )      |         |   | (56,800    | )                                  |   |   | —    |   |   |   | (87,400 | ) |
| Net                  earnings                                                                                                                                          |   |         | 304,900   |   |         |   | 42,500     |                               |   |   | —    |   |   |   | 347,400 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                              |   |         |      |   |         |   |       |                               |   |   |       |   |   |   |   |   |
| Other                  comprehensive                  loss                                                           |   |         | —   |   |         |   | —    |                               |   |   | (1,262,000 | )      |   |   | (1,262,000 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                              |   |         |      |   |         |   |       |                               |   |   |       |   |   |   |   |   |
| MGP                  adjusted asset contribution                                                                                                                                                                                                                                                                                                                                                                  |   |         | 12,600    |   |         |   | —    |                               |   |   | —    |   |   |   | 12,600 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                              |   |         |      |   |         |   |       |                               |   |   |       |   |   |   |   |   |
| Distributions                  to                  partners                                                          |   |         | (867,400  | )      |         |   | (1,610,800 | )                                  |   |   | —    |   |   |   | (2,478,200 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                              |   |         |      |   |         |   |       |                               |   |   |       |   |   |   |   |   |
| **Balance                  at June 30, 2007**                                                                                                                                                                                                                                                                                                                                                                     |   | $            | 5,487,900 |   |         | $      | 13,735,900 |                               |   | $      | (851,600   | )      |   | $ | 18,372,200 |   |

**ATLAS        AMERICA SERIES 25-2004(B) L.P.**

**STATEMENTS        OF CASH FLOWS**

**(Unaudited)**

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | **Six                  Months Ended** |       |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | **June                  30,**         |       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | **2007**                              |       |   | **2006** |   |
| **Cash                  flows from operating activities:**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                  |       |   |   |   |
| Net                  earnings                                                                                                                                                           |   | $                                     | 347,400    |   |   | $ | 1,930,300 |   |
| Adjustments                  to reconcile net earnings to net cash provided by operating                  activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  |       |   |   |   |   |   |
| Depletion                                                                                                                                                                                                        |   |                                  | 1,110,100  |   |   |   | 2,150,400 |   |
| Non-cash                  loss on derivative                  value                                                                                                                                              |   |                                  | 511,100    |   |   |   | — |   |
| Accretion                  of asset retirement                  obligation                                                                                                                                       |   |                                  | 44,000     |   |   |   | 31,700 |   |
| Decrease                  in accounts receivable –                  affiliate                                                                                                                              |   |                                  | 804,000    |   |   |   | 2,261,500 |   |
| Decrease                  in accrued                  liabilities                                                                                                                                                |   |                                  | (8,700     | ) |   |   | (10,500 | ) |
| Net                  cash provided by operating                  activities                                                                                                             |   |                                  | 2,807,900  |   |   |   | 6,363,400 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                  |       |   |   |   |   |   |
| **Cash                  flows from investing activities:**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                  |       |   |   |   |   |   |
| Purchase                  of tangible                  equipment                                                                                                                        |   |                                  | —    |   |   |   | (1,800 | ) |
| Sale                  of tangible                  equipment                                                                                                                            |   |                                  | —    |   |   |   | 1,200 |   |
| Net                  cash used in investing                  activities                                                                                                                 |   |                                  | —    |   |   |   | (600 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                  |       |   |   |   |   |   |
| **Cash                  flows from financing activities:**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                  |       |   |   |   |   |   |
| Distributions                  to                  partners                                                                                                                             |   |                                  | (2,478,200 | ) |   |   | (5,669,300 | ) |
| Net                  cash used in financing                  activities                                                                                                                 |   |                                  | (2,478,200 | ) |   |   | (5,669,300 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                  |       |   |   |   |   |   |
| Net                  increase in cash and cash                  equivalents                                                                                                             |   |                                  | 329,700    |   |   |   | 693,500 |   |
| Cash                  and cash equivalents at beginning of                  period                                                                                                      |   |                                  | —    |   |   |   | 1,400 |   |
| Cash                  and cash equivalents at end of                  period                                                                                                            |   | $                                     | 329,700    |   |   | $ | 694,900 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                  |       |   |   |   |   |   |
| **Supplemental                  Schedule of Non-cash Investing and Financing                  Activities:**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |                                  |       |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                  |       |   |   |   |   |   |
| Assets                  contributed and received by managing general partner:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                  |       |   |   |   |   |   |
| Tangible                  equipment included in oil & gas                  properties                                                                                                              |   | $                                     | 2,900      |   |   | $ | — |   |
| Leasehold                  costs included in oil and gas                  properties                                                                                                                   |   |                                  | (2,800     | ) |   |   | — |   |
| Intangible                  drilling costs included in oil & gas properties                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                  | 12,500     |   |   |   | — |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | $                                     | 12,600     |   |   | $ | — |   |

**ATLAS        AMERICA SERIES 25-2004(B) L.P.**

**NOTES        TO FINANCIAL STATEMENTS**

**June        30, 2007**

**(Unaudited)**

**NOTE        1 - DESCRIPTION        OF BUSINESS**

**NOTE        2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

**Use        of Estimates**

**Receivables**

**Revenue        Recognition**

**ATLAS        AMERICA SERIES 25-2004(B) L.P.**

**NOTES        TO FINANCIAL STATEMENTS (Continued)**

**June        30, 2007**

**(Unaudited)**

**NOTE        2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

**Asset        Retirement Obligation**

*Accounting for Asset Retirement        Obligations*
*, Accounting for Conditional Asset Retirement        Obligations.*

|                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | **Three                  Months Ended** |      |   | **Six                  Months Ended** |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|-----------|--------|---------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | **June                  30,**           |      |   | **June                  30,**         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | **2007**                                |      |   | **2006**                              |   |   | **2007** |   |   | **2006** |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                    |      |   |                                  |   |   |   |   |   |   |   |
| Asset                  retirement obligation at beginning of period                                                                                                                                                                                                                                                                                                                                                                                  |   | $                                       | 1,490,100 |   |                                  | $      | 1,458,200 |   |   | $ | 1,468,100 |   |   | $ | 1,442,300 |   |
| Accretion                  expense                                                                    |   |                                    | 22,000    |   |                                  |   | 15,800 |   |   |   | 44,000 |   |   |   | 31,700 |   |
| Asset                  retirement obligation at end of period                                                                                                                                                                                                                                                                                                                                                                                        |   | $                                       | 1,512,100 |   |                                  | $      | 1,474,000 |   |   | $ | 1,512,100 |   |   | $ | 1,474,000 |   |

**Property        and Equipment**

| Oil                  and gas properties consist of the following at the dates                  indicated:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | **June                  30,** |        |   | **December                  31,** |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|-------------|--------|-----------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | **2007**                      |        |   | **2006**                          |   |
| Mineral                  interest in properties:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                          |        |   |                              |   |
| Proved                  properties                                                                                                                                                                                   |   | $                             | 920,400     |   |                              | $      | 923,200 |   |
| Wells                  and related                  equipment                                                                                                                                                        |   |                          | 28,281,800  |   |                              |   | 28,266,400 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                          | 29,202,200  |   |                              |   | 29,189,600 |   |
| Accumulated                  depletion of oil and gas                  properties                                                                                                 |   |                          | (10,786,900 | )      |                              |   | (9,676,800 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | $                             | 18,415,300  |   |                              | $      | 19,512,800 |   |

**ATLAS        AMERICA SERIES 25-2004(B) L.P.**

**NOTES        TO FINANCIAL STATEMENTS (Continued)**

**June        30, 2007**

**(Unaudited)**

**NOTE        2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)**

**Recently        Issued Financial Accounting Standards**

*Offsetting of Amounts Related to Certain Contracts*

*The Fair Value Option for Financial        Assets and Financial Liabilities.  *

*Fair Value        Measurement.  *

**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 Net Earnings are payable at $75 per well per                  month.  Administrative costs incurred for the three months and                  six months ended June 30, 2007 were $31,900 and $64,000,                  respectively.  Administrative costs incurred for the three                  months and six months ended June 30, 2006 were $33,300 and $66,000,                  respectively. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Monthly                  well supervision fees which are included in production expenses                  in the                  Partnership’s Statements of Net Earnings are currently payable at $301 per                  well per month for operating and maintaining the wells.  Well                  supervision fees incurred for the three months and six months ended                  June                  30, 2007 were $126,700 and $254,400, respectively.  Well                  supervision fees incurred for the three months and six months ended                  June                  30, 2006 were $125,600 and $245,600,                  respectively. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**ATLAS        AMERICA SERIES 25-2004(B) L.P.**

**NOTES        TO FINANCIAL STATEMENTS (Continued)**

**June        30, 2007**

**(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 Net Earnings are payable at rates ranging from $.29-$.35                  per                  one thousand cubic feet ("Mcf") to 13% of the natural gas sales                  price.  Transportation fees incurred for the three months and                  six months ended June 30, 2007 were $144,800 and $306,500,                  respectively.  Transportation fees incurred for the three months                  and six months ended June 30, 2006 were $255,600 and $435,500,                  respectively. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Additional                  asset contributions from the MGP which are included on the Partnership's                  Statements of Cash Flows as a non-cash investing activity for the                  six                  months ended June 30, 2007, were                  $12,600. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Subordination        by Managing General Partner**

**NOTE        4 – COMPREHENSIVE INCOME**

|                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | **Three                  Months Ended** |    |   | **Six                  Months Ended** |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|---------|--------|---------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | **June                  30,**           |    |   | **June                  30,**         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | **2007**                                |    |   | **2006**                              |   |   | **2007** |   |   | **2006** |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                    |    |   |                                  |   |   |   |   |   |   |   |
| Net                  earnings                                                                                             |   | $                                       | 68,500  |   |                                  | $      | 565,400 |   |   | $ | 347,400 |   |   | $ | 1,930,300 |   |
| Other                  comprehensive (loss) income:                                                                                                                                                                                                                                                                                                                                                                                   |   |                                    |    |   |                                  |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized                  holding gain (loss) on hedging contracts                                                                                                                                                                                                                                                                                                                                                                  |   |                                    | 214,900 |   |                                  |   | 685,500 |   |   |   | (1,450,600 | ) |   |   | 1,162,400 |   |
| Less:                  reclassification adjustment for gains realized in net                  earnings                                                                                                                                                                                                                                                                                                                                |   |                                    | 129,800 |   |                                  |   | (202,900 | ) |   |   | 188,600 |   |   |   | (360,000 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                    | 344,700 |   |                                  |   | 482,600 |   |   |   | (1,262,000 | ) |   |   | 802,400 |   |
| Comprehensive                  income                  (loss)                                                             |   | $                                       | 413,200 |   |                                  | $      | 1,048,000 |   |   | $ | (914,600 | ) |   | $ | 2,732,700 |   |

**NOTE        5 – DERIVATIVE INSTRUMENTS**

**ATLAS        AMERICA SERIES 25-2004(B) L.P.**

**NOTES        TO FINANCIAL STATEMENTS (Continued)**

**June        30, 2007**

**(Unaudited)**

**NOTE        5 – DERIVATIVE INSTRUMENTS (Continued)**

**ATLAS        AMERICA SERIES 25-2004(B) L.P.**

**NOTES        TO FINANCIAL STATEMENTS (Continued)**

**June        30, 2007**

**(Unaudited)**

**NOTE        5 – DERIVATIVE INSTRUMENTS (Continued)**

| **Fixed                  Price Swaps** |                               |   |                             |    |   |                             |                             |   |                            |       |
|----------------------------------------|------------------------------------|--------|----------------------------------|---------|--------|----------------------------------|----------------------------------|--------|---------------------------------|------------|
|                                   |                               |   |                             |    |   |                             |                             |   | **Fair                  Value** |       |
|                                   | **Twelve                  Month**  |   | **Volumes**                      |    |   | **Average**                      |                             |   | **Asset**                       |       |
|                                   | **Period                  Ending** |   | **(per                  MMBTU)** |    |   | **Fixed                  Price** |                             |   | **(Liability)**                 |       |
|                                   | **June                  30,**      |   | ** **                       | **(1)** |   |                             | **(per                  MMBTU)** |   |                            | ** ** | **(2)** |   |
|                                   |                               |   |                             |    |   |                             |                             |   |                            |       |   |   |
|                                   | 2008                               |   |                             | 420,500 |   |                             | $                                | 8.682  |                            |       | $ | 346,500 |   |
|                                   | 2009                               |   |                             | 411,200 |   |                             | $                                | 8.533  |                            |       |   | (2,500 | ) |
|                                   | 2010                               |   |                             | 318,500 |   |                             | $                                | 8.053  |                            |       |   | (98,000 | ) |
|                                   | 2011                               |   |                             | 177,800 |   |                             | $                                | 7.524  |                            |       |   | (97,400 | ) |
|                                   | 2012                               |   |                             | 61,800  |   |                             | $                                | 7.365  |                            |       |   | (24,600 | ) |
|                                   |                               |   |                             |    |   |                             |                             |   |                            |       | $ | 124,000 |   |

| **Costless                  Collars** |                               |                            |   |                             |    |   |                                 |                             |   |                            |       |
|---------------------------------------|------------------------------------|---------------------------------|--------|----------------------------------|---------|--------|--------------------------------------|----------------------------------|--------|---------------------------------|------------|
|                                  |                               |                            |   |                             |    |   |                                 |                             |   | **Fair                  Value** |       |
| **Company**                           | **Twelve                  Month**  |                            |   | **Volumes**                      |    |   | **Average**                          |                             |   | **Asset**                       |       |
|                                  | **Period                  Ending** | **Option**                      |   | **(per                  MMBTU)** |    |   | **Floor                  & Cap** |                             |   | **(Liability)**                 |       |
|                                  | **June                  30,**      | **Type**                        |   | ** **                       | **(1)** |   |                                 | **(per                  MMBTU)** |   |                            | ** ** | **(2)** |   |
|                                  |                               |                            |   |                             |    |   |                                 |                             |   |                            |       |   |   |
|                                  | 2008                               | Puts                  purchased |   |                             | 23,200  |   |                                 | $                                | 7.500  |                            |       | $ | 9,900 |   |
|                                  | 2008                               | Calls                  sold     |   |                             | 23,200  |   |                                 | $                                | 8.600  |                            |       |   | — |   |
|                                  | 2008                               | Puts                  purchased |   |                             | 20,100  |   |                                 | $                                | 7.500  |                            |       |   | — |   |
|                                  | 2008                               | Calls                  sold     |   |                             | 20,100  |   |                                 | $                                | 9.400  |                            |       |   | (2,600 | ) |
|                                  | 2009                               | Puts                  purchased |   |                             | 20,100  |   |                                 | $                                | 7.500  |                            |       |   | — |   |
|                                  | 2009                               | Calls                  sold     |   |                             | 20,100  |   |                                 | $                                | 9.400  |                            |       |   | (2,900 | ) |
|                                  | 2010                               | Puts                  purchased |   |                             | 37,100  |   |                                 | $                                | 7.750  |                            |       |   | — |   |
|                                  | 2010                               | Calls                  sold     |   |                             | 37,100  |   |                                 | $                                | 8.750  |                            |       |   | (9,500 | ) |
|                                  | 2011                               | Puts                  purchased |   |                             | 37,100  |   |                                 | $                                | 7.750  |                            |       |   | — |   |
|                                  | 2011                               | Calls                  sold     |   |                             | 37,100  |   |                                 | $                                | 8.750  |                            |       |   | — |   |
|                                  | 2011                               | Puts                  purchased |   |                             | 92,800  |   |                                 | $                                | 7.500  |                            |       |   | — |   |
|                                  | 2011                               | Calls                  sold     |   |                             | 92,800  |   |                                 | $                                | 8.450  |                            |       |   | (22,000 | ) |
|                                  | 2012                               | Puts                  purchased |   |                             | 92,700  |   |                                 | $                                | 7.500  |                            |       |   | 2,100 |   |
|                                  | 2012                               | Calls                  sold     |   |                             | 92,700  |   |                                 | $                                | 8.450  |                            |       |   | — |   |
|                                  |                               |                            |   |                             |    |   |                                 |                             |   |                            |       | $ | (25,000 | ) |
|                                  |                               |                            |   |                             |    |   |                                 |                             |   |                            |       |   |   |   |
|                                  |                               |                            |   |                             |    |   |                                 | Net                  Asset       |   |                            | $          | 99,000 |   |

| (1)   | MMBTU                  represents million British Thermal                  Units. |
|-----------------|-----------------------------------------------------------------------------------|

| (2)   | Fair                  value based on forward NYMEX natural gas                  prices. |
|-----------------|-----------------------------------------------------------------------------------------|

**ATLAS        AMERICA SERIES 25-2004(B) L.P.**

**NOTES        TO FINANCIAL STATEMENTS (Continued)**

**June        30, 2007**

**(Unaudited)**

**NOTE        5 – DERIVATIVE INSTRUMENTS (Continued)**

|                                                                                                                                                                                                                                                                                                            |   | **June                  30, 2007** |     |   | **December                  31, 2006** |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|----------|--------|----------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                            |   | **Book                  Value**    |     |   | **Fair                  Value**        |   |   | **Book                  Value** |   |   | **Fair                  Value** |   |
| Assets                                                                                                                                                                                                                                                                                                          |   |                               |     |   |                                   |   |   |   |   |   |   |   |
| Derivative                  instruments                                             |   | $                                  | 600,600  |   |                                   | $      | 600,600 |   |   | $ | 2,030,200 |   |   | $ | 2,030,200 |   |
|                                                                                                                                                                                                                                                                                                            |   | $                                  | 600,600  |   |                                   | $      | 600,600 |   |   | $ | 2,030,200 |   |   | $ | 2,030,200 |   |
| Liabilities                                                                                                                                                                                                                                                                                                     |   |                               |     |   |                                   |   |   |   |   |   |   |   |   |   |   |   |
| Derivative                  instruments                                             |   | $                                  | (501,600 | )      |                                   | $      | (501,600 | ) |   | $ | (158,100 | ) |   | $ | (158,100 | ) |
|                                                                                                                                                                                                                                                                                                            |   | $                                  | 99,000   |   |                                   | $      | 99,000 |   |   | $ | 1,872,100 |   |   | $ | 1,872,100 |   |

**ITEM        2.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR        PLANOF OPERATIONS (UNAUDITED)**

**Forward-Looking        Statements**

*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.*

**General**

**Results        of Operations**

|                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | **Three                  Months Ended** |   |   | **Six                  Months Ended** |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|--------|--------|---------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | **June                  30,**           |   |   | **June                  30,**         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | **2007**                                |   |   | **2006**                              |   |   | **2007** |   |   | **2006** |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                    |   |   |                                  |   |   |   |   |   |   |   |
| Production                  revenues (in thousands):                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                    |   |   |                                  |   |   |   |   |   |   |   |
| Gas                                                                                                                                      |   | $                                       | 894    |   |                                  | $      | 1,940 |   |   | $ | 2,157 |   |   | $ | 4,890 |   |
| Oil                                                                                                                                      |   | $                                       | 74     |   |                                  | $      | 108 |   |   | $ | 126 |   |   | $ | 206 |   |
| Total                                                                                                                                    |   | $                                       | 968    |   |                                  | $      | 2,048 |   |   | $ | 2,283 |   |   | $ | 5,096 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                    |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |
| Production                  volumes:                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                    |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |
| Gas                  (mcf/day)                  (2)                                                                                      |   |                                    | 1,410  |   |                                  |   | 2,338 |   |   |   | 1,632 |   |   |   | 2,674 |   |
| Oil                  (bbls/day)                  (2)                                                                                     |   |                                    | 14     |   |                                  |   | 19 |   |   |   | 12 |   |   |   | 19 |   |
| Total                  (mcfe/day)                  (2)                                                                                   |   |                                    | 1,494  |   |                                  |   | 2,452 |   |   |   | 1,704 |   |   |   | 2,788 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                    |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |
| Average                  sales prices:                                                                                                                                                                                                                                                                                                                                                                                                               |   |                                    |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |
| Gas                  (per mcf) (1)                  (2)                                                                                  |   | $                                       | 6.97   |   |                                  | $      | 9.12 |   |   | $ | 7.30 |   |   | $ | 10.10 |   |
| Oil                  (per bbl)                  (2)                                                                                      |   | $                                       | 58.82  |   |                                  | $      | 63.26 |   |   | $ | 56.87 |   |   | $ | 61.46 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                    |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |
| Average                  production costs:                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                    |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |
| As                  a percent of                  sales                                                                                  |   |                                    | 35     | %      |                                  |   | 24 | % |   |   | 30 | % |   |   | 18 | % |
| Per                  mcfe                  (2)                                                                                           |   | $                                       | 2.52   |   |                                  | $      | 2.24 |   |   | $ | 2.25 |   |   | $ | 1.78 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                    |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |
| Depletion                  per                  mcfe                                                                 |   | $                                       | 3.61   |   |                                  | $      | 4.15 |   |   | $ | 3.60 |   |   | $ | 4.27 |   |

| (1)   | The                  average sales price per mcf before the effects of hedging was $7.98                  and                  $8.17 for the three months ended June 30, 2007 and 2006, respectively;                  and                  $7.94 and $9.27 for the six months ended June 30, 2007 and 2006,                  respectively. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | “Mcf”                  means thousand cubic feet, “mcfe” means thousand cubic feet equivalent and                  “bbls” means barrels.  Bbls are converted to mcfe using the                  ratio of six mcfs to one bbl. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Natural        Gas Revenues**

**Oil        Revenues**

**Expenses.  **

**Liquidity        and Capital Resources**

**Critical        Accounting Policies**

**Subordination        by Managing General Partner**

**Recently        Issued Financial Accounting Standards**

*Offsetting        of Amounts Related to Certain Contracts*

*The Fair Value Option for Financial Assets and Financial        Liabilities*

*Fair Value *
*Measurement*

**ITEM        3.  CONTROLS AND PROCEDURES**

**PART        II.  OTHER INFORMATION**

**ITEM        6.  Exhibits**

**EXHIBIT        INDEX**

| **Exhibit                  No.** |   | **Description**                                                                                                                                                           |
|----------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                             |   |                                                                                                                                                                      |
| 31.1                             |   | Certification                  Pursuant to Rule 13a-14/15(d)-14                                                                                                           |
| 31.2                             |   | Certification                  Pursuant to Rule 13a-14/15(d)-14                                                                                                           |
| 32.1                             |   | Certification                  Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section                  906 of                  the Sarbanes-Oxley Act of 2002 |
| 32.2                             |   | Certification                  Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section                  906 of                  the Sarbanes-Oxley Act of 2002 |

**SIGNATURES**

| Pursuant                  to the requirements of the Securities of the Exchange Act of 1934,                  the                  registrant has duly caused this report to be signed on its behalf                  by the                  undersigned, thereunto duly authorized. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                  |
| Atlas                  America Series 25-2004 (B) L.P.                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                  |   |   |
|                                                                                                                                                                                                                                                                                  |   |   |
|                                                                                                                                                                                                                                                                                  |   |   |
|                                                                                                                                                                                                                                                                                  |   | Atlas                  Resources, LLC, Managing General Partner |
|                                                                                                                                                                                                                                                                                  |   |   |
| Date:  August                  13, 2007                                                                                                                                                                                                                                     |   | By:/s/                  Freddie M. Kotek |
|                                                                                                                                                                                                                                                                                  |   | Freddie                  M. Kotek, Chairman of the Board of Directors, Chief Executive                  Officer |
|                                                                                                                                                                                                                                                                                  |   | and                  President |
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| In                  accordance with the Exchange Act, this report has been signed by                  the                  following persons on behalf of the registrant and in the capacities                  and on                  the dates indicated.                          |
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| Date:  August                  13, 2007                                                                                                                                                                                                                                     |   | By:/s/                  Freddie M. Kotek |
|                                                                                                                                                                                                                                                                                  |   | Freddie                  M. Kotek, Chairman of the Board of Directors, Chief                  Executive |
|                                                                                                                                                                                                                                                                                  |   | Officer                  and President |
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| Date:  August                  13, 2007                                                                                                                                                                                                                                     |   | By:/s/                  Matthew A. Jones |
|                                                                                                                                                                                                                                                                                  |   | Matthew                  A. Jones, Chief Financial Officer |
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| Date:  August                  13, 2007                                                                                                                                                                                                                                     |   | By:/s/                  Nancy J. McGurk |
|                                                                                                                                                                                                                                                                                  |   | Nancy                  J. McGurk, Vice President, Chief Accounting Officer |
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