##### Table of Contents



United States
Securities and Exchange Commission
 Washington, D.C. 20549
 Form 10-Q
  þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended September 30, 2010
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the transition period from  to
 Commission file number 000-51275
 ATLAS AMERICA PUBLIC #14-2004 L.P.
  Delaware
    
    86-1111314(State or other jurisdiction of
    
    (I.R.S. Employerincorporation or organization)
    
    Identification No.)Westpointe Corporate Center One1550 Coraopolis Heights Rd. 2nd FloorMoon Township, PA
    
    15108(Address of principal executive offices)
    
    (zip code)
 (412) 262-2830
 þ o
 o o
  Large accelerated filer o
    
    Accelerated filer o
    
    Non-accelerated filer o
    
    Smaller reporting company þ
 o þ




---



##### 



ATLAS AMERICA PUBLIC #14-2004 L.P.
(A Delaware Limited Partnership)
INDEX TO QUARTERLY REPORT
ON FORM 10-Q
 PAGEPART I. FINANCIAL INFORMATIONItem 1: Financial StatementsBalance Sheets as of September 30, 2010 and December 31, 2009
    
    
    3Statements of Operations for the Three Months and Nine Months ended September 30, 2010 and 2009
    
    
    4Statement of Changes in Partners Capital for the Nine Months ended September 30, 2010
    
    
    5Statements of Cash Flows for the Nine Months ended September 30, 2010 and 2009
    
    
    6Notes to Financial Statements
    
    
    7-18Item 2: Managements Discussion and Analysis of Financial Condition and Results of Operations
    
    
    18-22Item 4: Controls and Procedures
    
    
    22PART II. OTHER INFORMATIONItem 1: Legal Proceedings
    
    
    22Item 6: Exhibits
    
    
    22SIGNATURES
    
    
    23CERTIFICATIONSExhibit 31.1Exhibit 31.2Exhibit 32.1Exhibit 32.2
   2




---



##### Table of Contents



PART 1. FINANCIAL INFORMATION
 
 ITEM 1. FINANCIAL STATEMENTS
ATLAS AMERICA PUBLIC #14-2004 L.P.
 
 BALANCE SHEETS
 September 30,
    
    
    December 31,2010
    
    
    2009(Unaudited)ASSETSCurrent assets:Cash and cash equivalents
    
    $
    192,500
    
    
    $
    500,900Accounts receivable  affiliate
    
    
    711,900
    
    
    
    762,300Short-term hedge receivable due from affiliate
    
    
    883,400
    
    
    
    576,300Total current assets
    
    
    1,787,800
    
    
    
    1,839,500Oil and gas properties, net
    
    
    16,385,800
    
    
    
    17,660,500Long-term hedge receivable due from affiliate
    
    
    927,300
    
    
    
    473,600$
    19,100,900
    
    
    $
    19,973,600LIABILITIES AND PARTNERS CAPITALCurrent liabilities:Accrued liabilities
    
    $
    44,200
    
    
    $
    51,900Short-term hedge liability due to affiliate
    
    
    3,200
    
    
    
    6,900Total current liabilities
    
    
    47,400
    
    
    
    58,800Asset retirement obligation
    
    
    2,712,800
    
    
    
    2,596,000Long-term hedge liability due to affiliate
    
    
    153,400
    
    
    
    73,800Partners capital:Managing general partner
    
    
    5,301,200
    
    
    
    5,658,400Limited partners (5,256.95 units)
    
    
    9,398,500
    
    
    
    10,957,800Accumulated other comprehensive income
    
    
    1,487,600
    
    
    
    628,800Total partners capital
    
    
    16,187,300
    
    
    
    17,245,000$
    19,100,900
    
    
    $
    19,973,600
   3




---



##### Table of Contents



ATLAS AMERICA PUBLIC #14-2004 L.P.
 
 STATEMENTS OF OPERATIONS  (Unaudited)
 Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2010
    
    
    2009
    
    
    2010
    
    
    2009REVENUESNatural gas and oil
    
    $
    717,100
    
    
    $
    809,600
    
    
    $
    2,384,800
    
    
    $
    3,054,100Interest income
    
    
    100
    
    
    
    200
    
    
    
    400
    
    
    
    1,100Total revenues
    
    
    717,200
    
    
    
    809,800
    
    
    
    2,385,200
    
    
    
    3,055,200COSTS AND EXPENSESProduction
    
    
    437,800
    
    
    
    428,600
    
    
    
    1,283,800
    
    
    
    1,327,500Depletion
    
    
    404,700
    
    
    
    366,200
    
    
    
    1,274,700
    
    
    
    1,242,000Accretion of asset retirement obligation
    
    
    38,900
    
    
    
    34,200
    
    
    
    116,800
    
    
    
    102,700General and administrative
    
    
    56,600
    
    
    
    77,100
    
    
    
    195,800
    
    
    
    211,200Total expenses
    
    
    938,000
    
    
    
    906,100
    
    
    
    2,871,100
    
    
    
    2,883,400Net (loss) earnings
    
    $
    (220,800
    )
    
    $
    (96,300
    )
    
    $
    (485,900
    )
    
    $
    171,800Allocation of net (loss) earnings:Managing general partner
    
    $
    (15,400
    )
    
    $
    23,400
    
    
    $
    24,700
    
    
    $
    253,300Limited partners
    
    $
    (205,400
    )
    
    $
    (119,700
    )
    
    $
    (510,600
    )
    
    $
    (81,500
    )Net loss per limited partnership unit
    
    $
    (39
    )
    
    $
    (23
    )
    
    $
    (97
    )
    
    $
    (16
    )
   4




---



##### Table of Contents



ATLAS AMERICA PUBLIC #14-2004 L.P.
 
 STATEMENT OF CHANGES IN PARTNERS CAPITAL  FOR THE NINE MONTHS ENDED  September 30, 2010  (Unaudited)
 AccumulatedManaging
    
    
    
    
    
    
    OtherGeneral
    
    
    Limited
    
    
    ComprehensivePartner
    
    
    Partners
    
    
    Income
    
    
    TotalBalance at January 1, 2010
    
    $
    5,658,400
    
    
    $
    10,957,800
    
    
    $
    628,800
    
    
    $
    17,245,000Participation in revenues and expenses:Net production revenues
    
    
    385,400
    
    
    
    715,600
    
    
    
    
    
    
    
    1,101,000Interest income
    
    
    100
    
    
    
    300
    
    
    
    
    
    
    
    400Depletion
    
    
    (251,400
    )
    
    
    (1,023,300
    )
    
    
    
    
    
    
    (1,274,700
    )Accretion of asset retirement obligation
    
    
    (40,900
    )
    
    
    (75,900
    )
    
    
    
    
    
    
    (116,800
    )General and administrative
    
    
    (68,500
    )
    
    
    (127,300
    )
    
    
    
    
    
    
    (195,800
    )Net earnings (loss)
    
    
    24,700
    
    
    
    (510,600
    )
    
    
    
    
    
    
    (485,900
    )Other comprehensive income
    
    
    
    
    
    
    
    
    
    
    858,800
    
    
    
    858,800Subordination
    
    
    (57,000
    )
    
    
    57,000
    
    
    
    
    
    
    
    Distributions to partners
    
    
    (324,900
    )
    
    
    (1,105,700
    )
    
    
    
    
    
    
    (1,430,600
    )Balance at September 30, 2010
    
    $
    5,301,200
    
    
    $
    9,398,500
    
    
    $
    1,487,600
    
    
    $
    16,187,300
   5




---



##### Table of Contents



ATLAS AMERICA PUBLIC #14-2004 L.P.
 
 STATEMENTS OF CASH FLOWS  (Unaudited)
 Nine Months EndedSeptember 30,2010
    
    
    2009Cash flows from operating activities:Net (loss) earnings
    
    $
    (485,900
    )
    
    $
    171,800Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:Depletion
    
    
    1,274,700
    
    
    
    1,242,000Non-cash loss on derivative value
    
    
    173,900
    
    
    
    291,000Accretion of asset retirement obligation
    
    
    116,800
    
    
    
    102,700Decrease in accounts receivable  affiliate
    
    
    50,400
    
    
    
    476,800(Decrease) increase in accrued liabilities
    
    
    (7,700
    )
    
    
    3,300Net cash provided by operating activities
    
    
    1,122,200
    
    
    
    2,287,600Cash flows from investing activities:Proceeds from sale of tangible equipment
    
    
    
    
    
    
    2,000Net cash provided by investing activities
    
    
    
    
    
    
    2,000Cash flows from financing activities:Distribution to partners
    
    
    (1,430,600
    )
    
    
    (2,949,600
    )Net cash used in financing activities
    
    
    (1,430,600
    )
    
    
    (2,949,600
    )Net decrease in cash and cash equivalents
    
    
    (308,400
    )
    
    
    (660,000
    )Cash and cash equivalents at beginning of period
    
    
    500,900
    
    
    
    1,242,100Cash and cash equivalents at end of period
    
    $
    192,500
    
    
    $
    582,100
   6




---



##### Table of Contents



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




---



##### Table of Contents



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




---



##### Table of Contents



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




---



##### Table of Contents



ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
September 30, 2010
(Unaudited)
 NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 Comprehensive Income (Loss)
  Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Net (loss) earnings
    
    $
    (220,800
    )
    
    $
    (96,300
    )
    
    $
    (485,900
    )
    
    $
    171,800Other comprehensive income (loss):Unrealized holding gain (loss) on hedging contracts
    
    
    559,500
    
    
    
    40,700
    
    
    
    1,325,500
    
    
    
    (10,400
    )Less: reclassification adjustment for gains realized in net (loss) earnings
    
    
    (137,000
    )
    
    
    (237,200
    )
    
    
    (466,700
    )
    
    
    (785,800
    )Total other comprehensive income (loss)
    
    
    422,500
    
    
    
    (196,500
    )
    
    
    858,800
    
    
    
    (796,200
    )Comprehensive income (loss)
    
    $
    201,700
    
    
    $
    (292,800
    )
    
    $
    372,900
    
    
    $
    (624,400
    )
 Recently Adopted Accounting Standards
     10




---



##### Table of Contents



ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
September 30, 2010
(Unaudited)
 NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 Recently Adopted Accounting Standards (Continued)
  Recently Issued Accounting Standards
    11




---



##### Table of Contents



ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
September 30, 2010
(Unaudited)
 NOTE 3  OIL AND GAS PROPERTIES
  September 30,
    
    
    December 31,2010
    
    
    2009Natural gas and oil properties:Proved properties:Leasehold interest
    
    $
    1,417,900
    
    
    $
    1,417,900Wells and related equipment
    
    
    66,346,900
    
    
    
    66,346,90067,764,800
    
    
    
    67,764,800Accumulated depletion
    
    
    (51,379,000
    )
    
    
    (50,104,300
    )$
    16,385,800
    
    
    $
    17,660,500
 NOTE 4  ASSET RETIREMENT OBLIGATIONS
    Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Asset retirement obligation at beginning of
period
    
    $
    2,673,900
    
    
    $
    2,351,000
    
    
    $
    2,596,000
    
    
    $
    2,282,500Accretion expense
    
    
    38,900
    
    
    
    34,200
    
    
    
    116,800
    
    
    
    102,700Asset retirement obligation at end of period
    
    $
    2,712,800
    
    
    $
    2,385,200
    
    
    $
    2,712,800
    
    
    $
    2,385,200
  12




---



##### Table of Contents



ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
September 30, 2010
(Unaudited)
 NOTE 5  DERIVATIVE INSTRUMENTS
     13




---



##### Table of Contents



ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
September 30, 2010
(Unaudited)
 NOTE 5  DERIVATIVE INSTRUMENTS (Continued)
  Fair Value of Derivative Instruments:
 Asset Derivatives
    
    
    
    
    Liability DerivativesDerivatives in
    
    
    
    Fair Value
    
    
    
    
    Fair ValueCash Flow
    
    Balance Sheet
    
    September 30,
    
    
    December 31,
    
    
    Balance sheet
    
    September 30,
    
    
    December 31,Hedging Relationships
    
    Location
    
    2010
    
    
    2009
    
    
    Location
    
    2010
    
    
    2009Commodity Contracts
    
    Current Assets
    
    $
    883,400
    
    
    $
    576,300
    
    
    Current liabilities
    
    $
    (3,200
    )
    
    $
    (6,900
    )Long-Term Assets
    
    
    927,300
    
    
    
    473,600
    
    
    Long-term liabilities
    
    
    (153,400
    )
    
    
    (73,800
    )Total Derivatives
    
    
    
    $
    1,810,700
    
    
    $
    1,049,900
    
    
    
    
    $
    (156,600
    )
    
    $
    (80,700
    )
 Effects of Derivative Instruments on Statement of Operations:
 GainGain
    
    
    
    
    Reclassified from AccumulatedRecognized in OCI on Derivative
    
    
    
    
    OCI into Earnings (Loss)(Effective Portion)
    
    
    Location of Gain
    
    (Effective Portion)Derivatives in
    
    Three Months Ended
    
    
    Reclassified from Accumulated
    
    Three Months EndedCash Flow
    
    September 30,
    
    
    September 30,
    
    
    OCI into Earnings (Loss)
    
    September 30,
    
    
    September 30,Hedging Relationships
    
    2010
    
    
    2009
    
    
    (Effective Portion)
    
    2010
    
    
    2009Commodity Contracts
    
    $
    559,500
    
    
    $
    40,700
    
    
    Natural Gas and Oil Revenue
    
    $
    137,000
    
    
    $
    237,200
 GainGain/(Loss)
    
    
    
    
    Reclassified from AccumulatedRecognized in OCI on Derivative
    
    
    
    
    OCI into Earnings (Loss)(Effective Portion)
    
    
    Location of Gain
    
    (Effective Portion)Derivatives in
    
    Nine Months Ended
    
    
    Reclassified from Accumulated
    
    Nine Months EndedCash Flow
    
    September 30,
    
    
    September 30,
    
    
    OCI into Earnings (Loss)
    
    September 30,
    
    
    September 30,Hedging Relationships
    
    2010
    
    
    2009
    
    
    (Effective Portion)
    
    2010
    
    
    2009Commodity Contracts
    
    $
    1,325,500
    
    
    $
    (10,400
    )
    
    Natural Gas and Oil Revenue
    
    $
    466,700
    
    
    $
    785,800
   14




---



##### Table of Contents



ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
September 30, 2010
(Unaudited)
 NOTE 5  DERIVATIVE INSTRUMENTS (Continued)
 Natural Gas Fixed Price Swaps
 Production
    
    
    
    
    
    AveragePeriod Ending
    
    Volumes
    
    
    Fixed Price
    
    
    Fair ValueDecember 31,
    
    (MMbtu)(1)
    
    
    (per MMbtu)(1)
    
    
    Asset(2)2010
    
    
    81,300
    
    
    $
    7.236
    
    
    $
    267,6002011
    
    
    216,700
    
    
    
    6.845
    
    
    
    521,0002012
    
    
    145,600
    
    
    
    7.172
    
    
    
    303,5002013
    
    
    81,700
    
    
    
    6.544
    
    
    
    99,7002014
    
    
    35,700
    
    
    
    5.899
    
    
    
    16,400$
    1,208,200
 Natural Gas Costless Collars
 Production
    
    
    
    
    
    
    
    AveragePeriod Ending
    
    Option
    
    Volumes
    
    
    Floor & Cap
    
    
    Fair ValueDecember 31,
    
    Type
    
    (MMbtu)(1)
    
    
    (per MMbtu)(1)
    
    
    Asset (Liability)(2)2010
    
    Puts purchased
    
    
    13,900
    
    
    $
    5.774
    
    
    $
    26,1002010
    
    Calls sold
    
    
    13,900
    
    
    
    6.996
    
    
    
    (100
    )2011
    
    Puts purchased
    
    
    100,400
    
    
    
    6.441
    
    
    
    211,7002011
    
    Calls sold
    
    
    100,400
    
    
    
    7.551
    
    
    
    (4,500
    )2012
    
    Puts purchased
    
    
    90,300
    
    
    
    6.013
    
    
    
    135,9002012
    
    Calls sold
    
    
    90,300
    
    
    
    7.183
    
    
    
    (30,000
    )2013
    
    Puts purchased
    
    
    105,700
    
    
    
    5.749
    
    
    
    157,2002013
    
    Calls sold
    
    
    105,700
    
    
    
    6.937
    
    
    
    (75,000
    )2014
    
    Puts purchased
    
    
    38,900
    
    
    
    5.613
    
    
    
    59,2002014
    
    Calls sold
    
    
    38,900
    
    
    
    6.724
    
    
    
    (39,500
    )$
    441,000
 Crude Oil Fixed Price Swaps
 Production
    
    
    
    
    
    AveragePeriod Ending
    
    Volumes
    
    
    Fixed Price
    
    
    Fair ValueDecember 31,
    
    (Bbl)(1)
    
    
    (per Bbl)(1)
    
    
    Asset(3)2010
    
    
    100
    
    
    $
    97.061
    
    
    $
    2,0002011
    
    
    400
    
    
    
    88.498
    
    
    
    1,5002012
    
    
    300
    
    
    
    88.093
    
    
    
    2002013
    
    
    100
    
    
    
    88.398
    
    
    
    1002014
    
    
    
    
    
    
    
    
    
    
    $
    3,800
  15




---



##### Table of Contents



ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
September 30, 2010
(Unaudited)
 NOTE 5  DERIVATIVE INSTRUMENTS (Continued)
 Crude Oil Costless Collars
 Production
    
    
    
    
    
    
    
    AveragePeriod Ending
    
    Option
    
    Volumes
    
    
    Floor & Cap
    
    
    Fair ValueDecember 31,
    
    Type
    
    (Bbl)(1)
    
    
    (per Bbl)(1)
    
    
    Asset (Liability)(3)2010
    
    Puts purchased
    
    
    100
    
    
    $
    85.000
    
    
    $
    5002010
    
    Calls sold
    
    
    100
    
    
    
    112.220
    
    
    
    2011
    
    Puts purchased
    
    
    200
    
    
    
    77.563
    
    
    
    1,4002011
    
    Calls sold
    
    
    200
    
    
    
    101.861
    
    
    
    (1,000
    )2012
    
    Puts purchased
    
    
    200
    
    
    
    76.952
    
    
    
    1,6002012
    
    Calls sold
    
    
    200
    
    
    
    102.368
    
    
    
    (1,400
    )2013
    
    Puts purchased
    
    
    50
    
    
    
    76.952
    
    
    
    5002013
    
    Calls sold
    
    
    50
    
    
    
    103.269
    
    
    
    (500
    )2014
    
    Puts purchased
    
    
    
    
    
    
    
    
    
    
    2014
    
    Calls sold
    
    
    
    
    
    
    
    
    
    
    $
    1,100Total Net Asset
    
    
    $
    1,654,100
 
 (1)
    
    MMBTU represents million British Thermal Units. Bbl represents barrels.(2)
    
    Fair value based on forward NYMEX natural gas prices, as applicable.(3)
    
    Fair value based on forward WTI crude oil prices, as applicable. NOTE 6  FAIR VALUE OF FINANCIAL INSTRUMENTS
  Level 1 Unadjusted quoted prices in active markets for identical, unrestricted assets and
liabilities that the reporting entity has the ability to access at the measurement date.
 Level 2 Inputs other than quoted prices included within Level 1 that are observable for the
asset and liability or can be corroborated with observable market data for substantially the
entire contractual term of the asset or liability.
 Level 3 Unobservable inputs that reflect the entitys own assumptions about the assumption
market participants would use in the pricing of the asset or liability and are consequently
not based on market activity but rather through particular valuation techniques.
 Assets and Liabilities Measured at Fair Value on a Recurring Basis
   16




---



##### Table of Contents



ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
September 30, 2010
(Unaudited)
 NOTE 6  FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued)
 Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
  NOTE 7  CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
  
    
    Administrative costs, which are included in general and administrative expenses in
the Partnerships statements of operations, are payable at $75 per well per month.
Administrative costs incurred for the three months and nine months ended September 30,
2010 were $48,800 and $145,800, respectively. Administrative costs incurred for the
three months and nine months ended September 30, 2009 were $40,700 and $139,400,
respectively.
 
    
    Monthly well supervision fees, which are included in production expenses in the
Partnerships statements of operations, are payable at $318 per well per month for
operating and maintaining the wells. Well supervision fees incurred for the three months
and nine months September 30, 2010 were $206,900 and $617,900, respectively. Well
supervision fees incurred for the three months and nine months ended September 30, 2009
were $172,200 and $590,600, respectively.
 
    
    Transportation fees, which are included in production expenses in the Partnerships
statements of operations, are generally payable at 13% of the natural gas sales price.
Transportation fees incurred for the three months and nine months ended September 30,
2010 were $80,700 and $259,500, respectively. Transportation fees incurred for the three
months and nine months ended September 30, 2009 were $103,900 and $336,000,
respectively.
  Subordination by Managing General Partner
   17




---



##### Table of Contents



ATLAS AMERICA PUBLIC #14-2004 L.P.
NOTES TO FINANCIAL STATEMENTS (Continued)
September 30, 2010
(Unaudited)
 NOTE 8  COMMITMENTS AND CONTINGENCIES
 Legal Proceedings
   NOTE 9 — SUBSEQUENT EVENT-MERGER AGREEMENT
 )
    
 ITEM 2.
    MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS (UNAUDITED)
 Forward-Looking Statements
 When used in this Form 10-Q , the words believes, anticipates, expects and similar
expressions are intended to identify forward-looking statements. There are risks and uncertainties
that could cause actual results to differ materially from the results stated or implied in this
document. Readers are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. We undertake no obligation to publicly release the results
of any revisions to forward-looking statements which we may make to reflect events or circumstances
after the date of this Form 10-Q or to reflect the occurrence of unanticipated events.
 BUSINESS OVERVIEW
    18




---



##### Table of Contents



Results of Operations
  Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Production revenues (in thousands):Gas
    
    $
    659
    
    
    $
    731
    
    
    $
    2,223
    
    
    $
    2,848Oil
    
    
    58
    
    
    
    79
    
    
    
    162
    
    
    
    206Total
    
    $
    717
    
    
    $
    810
    
    
    $
    2,385
    
    
    $
    3,054Production volumes:Gas (mcf/day) (1)
    
    
    1,178
    
    
    
    1,163
    
    
    
    1,259
    
    
    
    1,337Oil (bbls/day) (1)
    
    
    8
    
    
    
    12
    
    
    
    8
    
    
    
    13Total (mcfe/day) (1)
    
    
    1,226
    
    
    
    1,235
    
    
    
    1,307
    
    
    
    1,415Average sales prices: (2)Gas (per mcf) (1) (3)
    
    $
    6.79
    
    
    $
    8.40
    
    
    $
    6.97
    
    
    $
    8.60Oil (per bbl) (1) (4)
    
    $
    76.81
    
    
    $
    69.37
    
    
    $
    75.66
    
    
    $
    59.44Average production costs:As a percent of revenues
    
    
    61
    %
    
    
    53
    %
    
    
    54
    %
    
    
    43
    %Per mcfe (1)
    
    $
    3.87
    
    
    $
    3.76
    
    
    $
    3.60
    
    
    $
    3.44Depletion per mcfe
    
    $
    3.58
    
    
    $
    3.22
    
    
    $
    3.57
    
    
    $
    3.22
 
 (1)
    
    Mcf represents thousand cubic feet, mcfe represents thousand cubic feet
equivalent, and bbls represents barrels. Bbls are converted to mcfe using the ratio
of six mcfs to one bbl.(2)
    
    Average sales prices represent accrual basis pricing after reversing the effect
of previously recognized gains resulting from prior period impairment charges.(3)
    
    Average gas prices are calculated by including in total revenue derivative gains
previously recognized into (loss) earnings and dividing by the total volume for the
period. Previously recognized derivative gains were $77,700 and $168,200 for the three
months ended September 30, 2010 and 2009, respectively. Previously recognized
derivative gains were $171,600 and $291,000 for the nine months ended September 30,
2010 and 2009, respectively. The derivative gains are included in other comprehensive
income (loss) and resulted from prior period impairment charges.(4)
    
    Average oil prices are calculated by including in total revenue derivative gains
previously recognized into (loss) earnings and dividing by the total volume for the
period. Previously recognized derivative gains were $800 and $2,300 for the three
months and nine months ended September 30, 2010. The derivative gains are included in
other comprehensive income (loss) and resulted from prior period impairment charges. Natural Gas Revenues.
  19




---



##### Table of Contents



Oil Revenues.
  Expenses.
   Liquidity and Capital Resources
   20




---



##### Table of Contents



Subordination by Managing General Partner
  CRITICAL ACCOUNTING POLICIES AND ESTIMATES
  Fair Value of Financial Instruments
  Level 1 Unadjusted quoted prices in active markets for identical, unrestricted assets and
liabilities that the reporting entity has the ability to access at the measurement date.
 Level 2 Inputs other than quoted prices included within Level 1 that are observable for the
asset and liability or can be corroborated with observable market data for substantially the
entire contractual term of the asset or liability.
 Level 3 Unobservable inputs that reflect the entitys own assumptions about the assumption
market participants would use in the pricing of the asset or liability and are consequently
not based on market activity but rather through particular valuation techniques.
  21




---



##### Table of Contents



ITEM 4. CONTROLS AND PROCEDURES
    
 PART II. OTHER INFORMATION
 
 ITEM 1. LEGAL PROCEEDINGS
   
 ITEM 6. EXHIBITS
 
 EXHIBIT INDEX
 Exhibit No.
    
    Description4.0
    
    
    Amended and Restated Certificate and Agreement of Limited Partnership for Public #14-2004 L.P. (1)10.1
    
    
    Drilling and Operating Agreement for Atlas America Public #14-2004 L.P. (1)31.1
    
    
    Rule 13a-14(a)/15d-14(a) Certification.31.2
    
    
    Rule 13a-14(a)/15d-14(a) Certification.32.1
    
    
    Section 1350 Certification.32.2
    
    
    Section 1350 Certification.
 
 (1)
    
    Filed on September 30, 2004 in the Form S-1 Registration Statement dated September 30, 2004, File No. 000-51275  22




---



##### Table of Contents



SIGNATURES
  Atlas America Public #14-2004 L.P.
Atlas Resources, LLC, Managing General PartnerDate:  November 12, 2010
    By:
    /s/ FREDDIE M. KOTEKFreddie M. Kotek,Chairman of the Board of Directors,
Chief Executive Officer and PresidentDate:  November 12, 2010
    By:
    /s/ MATTHEW A. JONESMatthew A. JonesChief Financial Officer  23