U.S.  Securities  and  Exchange  Commission
                       Washington,  D.C.    20549

                               Form  10-QSB

                               (Mark  One)

       [  X  ]    QUARTERLY  REPORT  PURSUANT  SECTION  13  OR  15(d)  OF  THE
                    SECURITIES  EXCHANGE  ACT  OF  1934
               For  the  quarterly  period  ended  September  30,  1997

       [      ]      TRANSITION  REPORT  PURSUANT  SECTION  13 OR 15(d) OF THE
                   SECURITIES  EXCHANGE  ACT  OF  1934
         For  the  transition  period  from  __________    to    __________

                      Commission  file  number  33-82188

                Atlas-Energy  for  the  Nineties-Public  #3  Ltd.
               (Name  of  small  business  issuer  in  its  charter)

       Pennsylvania                                                 25-1758822
(State  or  other  jurisdiction of       ( I.R.S. Employer identification No.)
incorporated  or  organization)


           311  Rouser  Road,  Moon  Township,  Pennsylvania    15108
          (Address  of  principal  executive  offices)      (Zip  Code)

                     Issuer's  telephone  (412)  262-2830

(Former  name,  former  address  and former fiscal year, if changed since last
report)

Check  whether  the  issuer  (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      X          No
Transitional  Small  Business  Disclosure  Format  (check  one):
Yes      X          No

                                  PART  I

Item  1.    Financial  Statements

     The  unaudited  Financial  Statements  of  Atlas-Energy for the Nineties-
Public  #3  Ltd.  (the  "Partnership")  for  the  period  January  1,  1997 to
September  30,  1997  follow.

Item  2.    Description  of  Business

     The  Partnership  distributed  its 10th quarterly production revenue on
September 5, 1997 from production of natural gas from the Partnership's 25.5
net  wells. 

     Net  production revenue of $ 162,848  includes pumpers fees( $ 275 per
month/well,  while  expenses  for  this  period  include $ 75  per
month/well for administrative  costs.

     For  the  next  twelve  months  management  believes that the Partnership
has  adequate  capital.    The  Partnership's  commitments  pursuant  to  the
drilling  and  operating  agreement  are  expected  to  be  fulfilled  through
revenues  generated  from  the  sale  of  gas  and  oil.

                                  PART  II

Item  1.    Legal  Proceeding
         None

Item  2.    Changes  in  Securities
         None

Item  3.    Defaults  Upon  Senior  Securities
         None

Item  4.    Submission  of  Matters  to  a  Vote  of  Securities  Holders
         None

Item  5.    Other  Matters
         None

Item  6.    Reports  on  Form  8-K
         The  registrant  filed  no  reports  on  Form  8-K  during  the  last
         quarter  of  the  period  covered  by  this  report.


                       UNAUDITED  FINANCIAL  STATEMENTS

                ATLAS-ENERGY  FOR  THE  NINETIES--PUBLIC  #3  LTD.
                   A  PENNSYLVANIA  LIMITED  PARTNERSHIP
                         BALANCE  SHEET  (Unaudited)
                            September  30,  1997

                                    ASSETS



                                            Sept 30,  December 31,  Increase
CURRENT ASSETS                                1997        1996      (Decrease)
                                            ---------  ------------  ----------

     Cash                                      8,949        59,207    (50,258)

     Accounts receivables                    162,848       246,001    (83,153)
     Oil and Gas drilling contracts/leases 3,715,677     4,175,837   (460,160)
     Organizational/Syndication Costs        547,497       617,721    (70,224)
                                           ---------     ---------   ---------

  TOTAL CURRENT ASSETS                     4,434,972     5,098,766   (663,795)

LIABILITIES  AND  PARTNERS'  CAPITAL

     Accounts payable                          7,657         9,245     (1,588) 
     Partners' Capital                     4,427,315     5,089,521   (662,207)
                                           ---------     ---------  ---------   
                                           4,434,972     5,098,766   (663,795)

----------------------------------------------------------------------------
        STATEMENT OF INCOME

  ATLAS-ENERGY FOR THE NINETIES--PUBLIC #3 LTD.
-----------------------------------------------
        A PENNSYLVANIA LIMITED PARTNERSHIP

    For the nine months ended September 30, 1997

REVENUE
-------

      Natural gas sales                                          704,915
      Less direct operating costs:
  Royalty Interest                                                86,472
  Other                                                           74,906
                                                                 --------       
                                                                 161,378
                                                                 --------    
      Net Production Revenues                                    543,537

Interest Income                                                    3,116
                                                                 --------
             Total Revenue                                       546,653

EXPENSES
--------
     Depletion and depreciation of oil and gas wells and leases  434,505
     Amortization of organizational and syndication costs         72,505
     General and administrative fees                              15,716
     Professional fees                                            10,084
     Other                                                         1,247
                                                                 --------       
  Total Expenses                                                 534,057
                                                                 --------
      
  NET INCOME                                                      12,596
                                                                 ========       

        STATEMENT OF CASH FLOWS

  ATLAS-ENERGY FOR THE NINETIES--PUBLIC #3 LTD.
-----------------------------------------------
        A PENNSYLVANIA LIMITED PARTNERSHIP

    For the nine months ended September 30, 1997

          Increase  (Decrease)  in  Cash
          ------------------------------
                                           

Cash  flows  from  operating  activities
  Net  Income                                              12,596
  Adjustments  to  reconcile  net  income  to  net  cash
       provided  by  operating  activities:


  Depletion and depreciation                               434,505
  Amortization                                              72,505 
  Decrease in accounts receivable                           83,153 
  Decrease in accounts payable                              (1,588) 
                                                       ------------
  Cash provided by operating activities                    601,171 

Cash flows used in financing activities:
     Distributions to Partners                            (674,802)
     Refund of Intangible Drillig Costs                     23,374
                                                       ------------

  Net (Decrease) in Cash                                   (50,258)

  Cash at beginning of period                               59,207 
                                                       -------------

Cash as of September 30, 1997                                8,949 
                                                       =============
----------------------------------------------------------------------------

     STATEMENT OF CHANGES IN PARTNERS' CAPITAL ACCOUNTS - (UNAUDITED)

                ATLAS-ENERGY FOR THE NINETIES--PUBLIC #3 LTD.
                   A PENNSYLVANIA LIMITED PARTNERSHIP

              For  the  nine  months  ended  September  30,  1997
                                                                      
                                          
                                    MANAGING
                                    GENERAL     OTHER
                                    PARTNER   PARTNERS   TOTAL
BALANCE AT JANUARY 1, 1997        $  785,319 $ 4,304,202 $ 5,089,521

Participation in revenue
and expenses:
Natural gas sales                    135,884     407,653     543,537 
Interest                                 779       2,337       3,116 
Depletion and depreciation           (11,509)   (430,159)   (441,668)
Amortization                         (65,342)          0     (65,342)
Other costs                           (6,762)    (20,285)    (27,047)
                                   ---------- ----------- -----------
Net Income ( Loss )                   53,050     (40,454)     12,596

 Distributions                      (148,852)   (525,950)   (674,802) 
                                   ---------- ----------- ----------- 
              
 BALANCE AT Sept 30, 1997            689,516   3,737,799   4,427,315 
                                   ========== =========== ===========

                See notes to unaudited financial statements.
----------------------------------------------------------------------------
                 NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

                ATLAS-ENERGY FOR THE NINETIES--PUBLIC #3 LTD.
                   A PENNSYLVANIA LIMITED PARTNERSHIP

                            September 30, 1997

1.            INTERIM  FINANCIAL  STATEMENTS

     The  financial  statements  as  of Sept 30, 1997 and for the 9  months
then  ended  have  been  prepared by the management of the Partnership without
audit,  pursuant  to  the rules and regulations of the Securities and Exchange
Commission.    Certain  information and footnote disclosures normally included
in  financial  statements  prepared  in  accordance  with  generally  accepted
accounting  principles  have  been  omitted  pursuant  to  such  rules  and
regulations,  although  the  Partnership  believes  that  the  disclosures are
adequate  to  make  the information presented not misleading.  These financial
statements  should  be  read in conjunction with the audited December 31, 1996
financial  statements.    In  the  opinion  of  management,  all  adjustments
(consisting  of  only  normal  recurring  accruals)  considered  necessary for
presentation  have  been  included.

2.            SIGNIFICANT  ACCOUNTING  POLICIES

     The  Partnership  uses  the  successful  efforts method of accounting for
oil  and  gas  activities.   Costs to acquire mineral interests in oil and gas
properties,  drill  and  equip  wells and organizational and syndication costs
are  capitalized.    Oil and gas properties are periodically assessed and when
unamortized  costs  exceed  expected  future  net  cash  flows,  a  loss  is
recognized  by  a  charge  to  income.

     Capitalized  costs  are  expensed  at unit cost rates calculated annually
based  on  the  estimated  volume  of  recoverable  gas and the related costs.

-----------------------------------------------------------------------------

                                SIGNATURES

In  accordance  with  Section  13 or 15(d) of the Exchange Act, the registrant
caused  this  report  to be signed on its behalf by the undersigned, thereunto
duly  authorized.

             Atlas-Energy  for  the  Nineties--Public  #3  Ltd.

By      (Signature  and  Title):                        Atlas Resources, Inc.,
                                                    Managing  General  Partner

By      (Signature  and  Title):             /s/ James R. O'Mara
                                                 James  R.  O'Mara
                       President,  Chief  Executive  Officer  and  a  Director

Date:    September  30,  1997

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.

By    (Signature  and  Title):               /s/ James R. O'Mara
                                                 James  R.O'Mara
                       President,  Chief  Executive  Officer  and  a  Director

Date:    September  30,  1997

By  (Signature  and  Title):                /s/ Tony C. Banks
                                                Tony  C.  Banks
                              Vice  President  and  Chief  Financial  Officer

Date:    September  30,  1997
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