|                                                                                                                                                                                    | **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 September 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 0-52168                                                                                                 |
|                                                                                                                                                                                    |                                                                                                                                            |
|                                                                                                                                                                                    |                                                                                                                                            |
|                                                                                                                                                                                    | **ATLAS                  AMERICA PUBLIC #15-2006 (B) L.P.**                                                                                     |
|                                                                                                                                                                                    | (Name                  of small business issuer in its charter)                                                                                 |
|                                                                                                                                                                                    |                                                                                                                                            |
|                                                                                                                                                                                    |                                                                                                                                            |
|                                                                                                                                                                                    |                                                                                                                                            |
| **Delaware**                                                                                                                                                                            | **20-3208390**                                                                                                                                  |
| (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 PUBLIC #15-2006 (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 September 30, 2007 and December 31,                  2006                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 3        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Statements                  of Net Earnings for the Three Months and Nine Months ended September                  30,                  2007,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | for                  the Three Months ended September 30, 2006 and the Period May 9,                  2006                  through September                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | 30,                  2006                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 4        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Statement                  of Partners’ Capital Accounts for the Nine Months ended September 30,                  2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 5        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Statements                  of Cash Flows for the Nine Months ended September 30, 2007 and                  the Period                  May 9,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | 2006                  through September 30,                  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 PUBLIC #15-2006(B) L.P.**

**BALANCE        SHEETS**

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | **September                  30,** |        |   | **December                  31,** |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|-------------|--------|-----------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | **2007**                           |        |   | **2006**                          |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | **(Unaudited)**                    |        |   | **(Audited)**                     |   |
| **ASSETS**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                               |        |   |                              |   |
| Current                  assets:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                               |        |   |                              |   |
| Cash                  and cash                  equivalents                                                                                                                           |   | $                                  | 2,807,700   |   |                              | $      | 1,305,800 |   |
| Accounts                  receivable-affiliate                                                                                                                                        |   |                               | 11,360,400  |   |                              |   | 33,834,200 |   |
| Short-term                  hedge receivable due from                  affiliate                                                                                                      |   |                               | 2,881,800   |   |                              |   | 2,139,100 |   |
| Total                  current                  assets                                                                                                                                                                   |   |                               | 17,049,900  |   |                              |   | 37,279,100 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                               |        |   |                              |   |   |   |
| Oil                  and gas properties,                  net                                                                                                                         |   |                               | 163,858,300 |   |                              |   | 143,969,600 |   |
| Long-term                  hedge receivable due from                  affiliate                                                                                                       |   |                               | 1,540,200   |   |                              |   | 1,846,700 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | $                                  | 182,448,400 |   |                              | $      | 183,095,400 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                               |        |   |                              |   |   |   |
| **LIABILITIES                  AND PARTNERS’ CAPITAL**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                               |        |   |                              |   |   |   |
| Current                  liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                               |        |   |                              |   |   |   |
| Accrued                  liabilities                                                                                                                                                  |   | $                                  | 26,200      |   |                              | $      | 18,000 |   |
| Short-term                  hedge liability due to                  affiliate                                                                                                         |   |                               | 462,600     |   |                              |   | 13,300 |   |
| Total                  current                  liabilities                                                                                                                                                                        |   |                               | 488,800     |   |                              |   | 31,300 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                               |        |   |                              |   |   |   |
| Asset                  retirement                  obligation                                                                                                                         |   |                               | 4,331,300   |   |                              |   | 3,653,400 |   |
| Long-term                  hedge liability due to                  affiliate                                                                                                          |   |                               | 2,137,300   |   |                              |   | 297,100 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                               |        |   |                              |   |   |   |
| Partners’                  capital:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |                               |        |   |                              |   |   |   |
| Managing                  general                  partner                                                                                                                            |   |                               | 34,591,500  |   |                              |   | 27,715,500 |   |
| Investor                  partners (14,772.60                  units)                                                                                                                 |   |                               | 139,077,400 |   |                              |   | 147,722,700 |   |
| Accumulated                  other comprehensive                  income                                                                                                              |   |                               | 1,822,100   |   |                              |   | 3,675,400 |   |
| Total                  partners'                  capital                                                                                                                                                                               |   |                               | 175,491,000 |   |                              |   | 179,113,600 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | $                                  | 182,448,400 |   |                              | $      | 183,095,400 |   |

**ATLAS        AMERICA PUBLIC #15-2006 (B) L.P.**

**STATEMENTS        OF NET EARNINGS**

**FOR        THE THREE MONTHS AND NINE MONTHS ENDED September 30, 2007,**

**FOR        THE THREE MONTHS ENDED September 30, 2006 AND THE PERIOD**

**May        9, 2006 (DATE OF FORMATION) THROUGH September 30, 2006**

**(Unaudited)**

|                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | **September                  30,** |       |   | **September                  30,** |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|------------|--------|------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | **2007**                           |       |   | **2006**                           |   |   | **2007** |   |   | **2006** |   |
| **REVENUES:**                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                               |       |   |                               |   |   |   |   |   |   |   |
| Natural                  gas and                  oil                                                                       |   | $                                  | 11,231,900 |   |                               | $      | 1,478,800 |   |   | $ | 28,891,800 |   |   | $ | 1,510,100 |   |
| Interest                  income                                                                                            |   |                               | 11,200     |   |                               |   | — |   |   |   | 40,600 |   |   |   | — |   |
| Total                  revenues                                                                                                                                     |   |                               | 11,243,100 |   |                               |   | 1,478,800 |   |   |   | 28,932,400 |   |   |   | 1,510,100 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                               |       |   |                               |   |   |   |   |   |   |   |   |   |   |   |
| **COSTS                  AND EXPENSES:**                                                                                                                                                                                                                                                                                                                                                                                                               |   |                               |       |   |                               |   |   |   |   |   |   |   |   |   |   |   |
| Production                                                                                                                  |   |                               | 2,051,900  |   |                               |   | 214,600 |   |   |   | 5,328,300 |   |   |   | 217,300 |   |
| Depletion                                                                                                                   |   |                               | 5,786,500  |   |                               |   | 704,200 |   |   |   | 15,259,200 |   |   |   | 717,700 |   |
| Accretion                  of asset retirement obligation                                                                                                                                                                                                                                                                                                                                                                                              |   |                               | 59,100     |   |                               |   | 73,200 |   |   |   | 177,600 |   |   |   | 74,100 |   |
| General                  and                  administrative                                                                |   |                               | 142,100    |   |                               |   | 24,600 |   |   |   | 367,700 |   |   |   | 25,400 |   |
| Total                  expenses                                                                                                                                     |   |                               | 8,039,600  |   |                               |   | 1,016,600 |   |   |   | 21,132,800 |   |   |   | 1,034,500 |   |
| **Net                  earnings                                                               **                            |   | $                                  | 3,203,500  |   |                               | $      | 462,200 |   |   | $ | 7,799,600 |   |   | $ | 475,600 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                               |       |   |                               |   |   |   |   |   |   |   |   |   |   |   |
| **Allocation                  of net earnings:**                                                                                                                                                                                                                                                                                                                                                                                                       |   |                               |       |   |                               |   |   |   |   |   |   |   |   |   |   |   |
| Managing                  general                  partner                                                                  |   | $                                  | 2,177,800  |   |                               | $      | 317,800 |   |   | $ | 5,579,700 |   |   | $ | 325,400 |   |
| Investor                  partners                                                                                          |   | $                                  | 1,025,700  |   |                               | $      | 144,400 |   |   | $ | 2,219,900 |   |   | $ | 150,200 |   |
| Net                  earnings per investor partnership unit                                                                                                                                                                                                                                                                                                                                                                                            |   | $                                  | 69         |   |                               | $      | 9 |   |   | $ | 150 |   |   | $ | 10 |   |

**ATLAS        AMERICA PUBLIC #15-2006 (B) L.P.**

**STATEMENT        OF PARTNERS’ CAPITAL ACCOUNTS**

**FOR        THE NINE MONTHS ENDED**

**September        30, 2007**

**(Unaudited)**

|                                                                                                                                                                                                                                                                                                                                                                                                                                |   |         |       |   |         |   |        | **Accumulated**                    |   |   |       |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|------------|--------|--------------|--------|-------------|------------------------------------|--------|--------|------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                |   | **Managing** |       |   |         |   |        | **Other**                          |   |   |       |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                |   | **General**  |       |   | **Investor** |   |        | **Comprehensive**                  |   |   |       |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                |   | **Partner**  |       |   | **Partners** |   |        | **Income                  (Loss)** |   |   | **Total**  |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                |   |         |       |   |         |   |        |                               |   |   |       |   |
| **Balance                  at January 1, 2007**                                                                                                                                                                                                                                                                                                                                                                                     |   | $            | 27,715,500 |   |         | $      | 147,722,700 |                               |   | $      | 3,675,400  |   |   | $ | 179,113,600 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                |   |         |       |   |         |   |        |                               |   |   |       |   |   |   |   |   |
| Participation                  in revenues and expenses:                                                                                                                                                                                                                                                                                                                                                                            |   |         |       |   |         |   |        |                               |   |   |       |   |   |   |   |   |
| Net                  production                  revenues                                                                                        |   |         | 8,063,400  |   |         |   | 15,500,100  |                               |   |   | —    |   |   |   | 23,563,500 |   |
| Interest                  income                                                                                                                 |   |         | 13,900     |   |         |   | 26,700      |                               |   |   | —    |   |   |   | 40,600 |   |
| Depletion                                                                                                                                        |   |         | (2,311,000 | )      |         |   | (12,948,200 | )                                  |   |   | —    |   |   |   | (15,259,200 | ) |
| General                  and                  administrative                                                                                     |   |         | (125,800   | )      |         |   | (241,900    | )                                  |   |   | —    |   |   |   | (367,700 | ) |
| Accretion                  of asset retirement obligation                                                                                                                                                                                                                                                                                                                                                                           |   |         | (60,800    | )      |         |   | (116,800    | )                                  |   |   | —    |   |   |   | (177,600 | ) |
| Net                  earnings                                                                                                                                                  |   |         | 5,579,700  |   |         |   | 2,219,900   |                               |   |   | —    |   |   |   | 7,799,600 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                |   |         |       |   |         |   |        |                               |   |   |       |   |   |   |   |   |
| Other                  comprehensive                  loss                                                              |   |         | —    |   |         |   | —     |                               |   |   | (1,853,300 | )      |   |   | (1,853,300 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                |   |         |       |   |         |   |        |                               |   |   |       |   |   |   |   |   |
| MGP                  adjusted asset contributions                                                                                                                                                                                                                                                                                                                                                                                   |   |         | 6,948,600  |   |         |   | —     |                               |   |   | —    |   |   |   | 6,948,600 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                |   |         |       |   |         |   |        |                               |   |   |       |   |   |   |   |   |
| Distributions                  to                  partners                                                             |   |         | (5,652,300 | )      |         |   | (10,865,200 | )                                  |   |   | —    |   |   |   | (16,517,500 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                |   |         |       |   |         |   |        |                               |   |   |       |   |   |   |   |   |
| **Balance                  at September 30, 2007**                                                                                                                                                                                                                                                                                                                                                                                  |   | $            | 34,591,500 |   |         | $      | 139,077,400 |                               |   | $      | 1,822,100  |   |   | $ | 175,491,000 |   |

**ATLAS        AMERICA PUBLIC #15-2006(B) L.P.**

**STATEMENTS        OF CASH FLOWS**

**FOR        THE NINE MONTHS ENDED September 30, 2007,**

**AND        THE PERIOD May 9, 2006 (DATE OF FORMATION)**

**THROUGH        September 30, 2006**

**(Unaudited)**

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | **2007** |        |   | **2006** |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|-------------|--------|----------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |     |        |   |     |   |
| **Cash                  flows from operating activities:**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |     |        |   |     |   |
| Net                  earnings                                                                                                                                                               |   | $        | 7,799,600   |   |     | $      | 475,600 |   |
| Adjustments                  to reconcile net earnings to net cash provided by operating                  activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |     |        |   |     |   |   |   |
| Depletion                                                                                                                                                                                                            |   |     | 15,259,200  |   |     |   | 717,700 |   |
| Accretion                  of asset retirement                  obligation                                                                                                                                           |   |     | 177,600     |   |     |   | 74,100 |   |
| Increase                  in accounts receivable –                  affiliate                                                                                                                                  |   |     | (5,225,200  | )      |     |   | (1,274,600 | ) |
| Increase                  in accrued                  liabilities                                                                                                                                                    |   |     | 8,200       |   |     |   | 7,200 |   |
| Net                  cash provided by operating                  activities                                                                                                                 |   |     | 18,019,400  |   |     |   | — |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |     |        |   |     |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |     |        |   |     |   |   |   |
| **Cash                  flows from financing activities:**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |     |        |   |     |   |   |   |
| Distributions                  to                  partners                                                                                                                                 |   |     | (16,517,500 | )      |     |   | — |   |
| Net                  cash used in financing                  activities                                                                                                                     |   |     | (16,517,500 | )      |     |   | — |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |     |        |   |     |   |   |   |
| Net                  increase in cash and cash                  equivalents                                                                                                                 |   |     | 1,501,900   |   |     |   | — |   |
| Cash                  and cash equivalents at beginning of                  period                                                                                                          |   |     | 1,305,800   |   |     |   | — |   |
| Cash                  and cash equivalents at end of                  period                                                                                                                |   | $        | 2,807,700   |   |     | $      | — |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |     |        |   |     |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |     |        |   |     |   |   |   |
| **Supplemental                  schedule of non-cash investing and financing                  activities:**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |     |        |   |     |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |     |        |   |     |   |   |   |
| Assets                  contributed by managing general partner:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |     |        |   |     |   |   |   |
| Tangible                  equipment included in oil and gas                  properties                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $        | 6,423,200   |   |     | $      | 2,404,300 |   |
| Lease                  costs included in oil and gas properties                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |     | 525,400     |   |     |   | 12,709,400 |   |
| Syndication                  and offering                  costs                                                                                                                                                     |   |     | —     |   |     |   | 17,701,600 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $        | 6,948,600   |   |     | $      | 32,815,300 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |     |        |   |     |   |   |   |
| Asset                  retirement                  obligation                                                                                                                                                        |   | $        | 500,300     |   |     | $      | 1,646,400 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |     |        |   |     |   |   |   |
| Additional                  asset contributions:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |     |        |   |     |   |   |   |
| Tangible                  equipment and intangible                  drilling                                                                                                                                         |   | $        | 27,699,000  |   |     | $      | 65,739,400 |   |

**ATLAS        AMERICA PUBLIC #15-2006(B) L.P.**

**NOTES        TO FINANCIAL STATEMENTS**

**September        30, 2007**

**(Unaudited)**

**NOTE        1 - DESCRIPTION        OF BUSINESS**

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

**Use        of Estimates**

**Receivables**

**Revenue        Recognition**

**ATLAS        AMERICA PUBLIC #15-2006(B) L.P.**

**NOTES        TO FINANCIAL STATEMENTS (Continued)**

**September        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.*

|                                                                |   |                               |      |   |                               |   |      |                               |   |   | **Period                  Ended**  |   |
|---------------------------------------------------------------------|--------|------------------------------------|-----------|--------|------------------------------------|--------|-----------|------------------------------------|--------|--------|------------------------------------|--------|
|                                                                |   | **Three                  Months**  |      |   | **Three                  Months**  |   |      | **Nine                  Months**   |   |   | **May                  9, 2006**   |   |
|                                                                |   | **Ended**                          |      |   | **Ended**                          |   |      | **Ended**                          |   |   | **Through**                        |   |
|                                                                |   | **September                  30,** |      |   | **September                  30,** |   |      | **September                  30,** |   |   | **September                  30,** |   |
|                                                                |   | **2007**                           |      |   | **2006**                           |   |      | **2007**                           |   |   | **2006**                           |   |
|                                                                |   |                               |      |   |                               |   |      |                               |   |   |                               |   |
| Asset                  retirement obligation at beginning of period |   | $                                  | 4,272,200 |   |                               | $      | 32,500    |                               |   | $      | 3,653,400                          |   |   | $ | — |   |
| Liabilities                  incurred from drilling wells           |   |                               | —   |   |                               |   | 1,614,800 |                               |   |   | 500,300                            |   |   |   | 1,646,400 |   |
| Accretion                  expense                                  |   |                               | 59,100    |   |                               |   | 73,200    |                               |   |   | 177,600                            |   |   |   | 74,100 |   |
| Asset                  retirement obligation at end of period       |   | $                                  | 4,331,300 |   |                               | $      | 1,720,500 |                               |   | $      | 4,331,300                          |   |   | $ | 1,720,500 |   |

**Property        and Equipment**

| Oil                  and gas properties consist of the following at the dates                  indicated:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | **September                  30,** |        |   | **December                  31,** |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|-------------|--------|-----------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | **2007**                           |        |   | **2006**                          |   |
| Mineral                  interest in properties:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |                               |        |   |                              |   |
| Proved                  properties                                                                                                                                              |   | $                                  | 4,144,800   |   |                              | $      | 3,619,400 |   |
| Wells                  and related                  equipment                                                                                                                   |   |                               | 178,362,100 |   |                              |   | 143,739,600 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                               | 182,506,900 |   |                              |   | 147,359,000 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                               |        |   |                              |   |   |   |
| Accumulated                  depletion of oil and gas                  properties                                                                                               |   |                               | (18,648,600 | )      |                              |   | (3,389,400 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | $                                  | 163,858,300 |   |                              | $      | 143,969,600 |   |

**ATLAS        AMERICA PUBLIC #15-2006(B) L.P.**

**NOTES        TO FINANCIAL STATEMENTS (Continued)**

**September        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                  nine months ended September 30, 2007 were $102,000 and $269,200,                  respectively.  Administrative costs incurred for the three                  months and the period ended September 30, 2006 were $15,900 and                  $16,300,                  respectively. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Monthly                  well supervision fees which are included in production expenses                  in the                  Partnership’s Statements of Net Earnings are currently payable at $285 per                  well per month for operating and maintaining the wells.  Well                  supervision fees incurred for the three months and nine months                  ended                  September 30, 2007 were $387,700 and $1,023,200,                  respectively.  Well supervision fees incurred for the three                  months and the period ended September 30, 2006 were $60,200 and                  $61,800,                  respectively. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | 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                  nine months ended September 30, 2007 were $1,295,500 and $3,437,000,                  respectively.  Transportation fees incurred for the three months                  and the period ended September 30, 2006 were $138,500 and $139,600,                  respectively. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**ATLAS        AMERICA PUBLIC #15-2006(B) L.P.**

**NOTES        TO FINANCIAL STATEMENTS (Continued)**

**September        30, 2007**

**(Unaudited)**

**NOTE        3 -        TRANSACTIONS WITH ATLAS RESOURCES, LLC AND ITS AFFILIATES        (Continued)**

| ·   | Asset                  contributions from the MGP which are disclosed on the Partnership's                  Statements of Cash Flows as a non-cash activity for the nine months                  ended                  September 30, 2007 and the period ended September 30, 2006 were                  $6,948,600                  and $32,815,300, respectively.  Additional asset contributions                  which are disclosed on the Partnership's Statement of Cash Flows                  as a                  non-cash activity for the nine months ended September 30, 2007                  and for the                  period ended September 30, 2006 were $27,699,000 and $65,739,400,                  respectively. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | As                  of September 30, 2007, the Partnership has funded $147,513,100                  to the MGP                  for well drilling contracts of which $145,012,000 has been spent                  to date                  on well drilling costs and the remaining balance of $2,501,100                  is shown as                  part of Accounts receivable-affiliate, due from the MGP, on the                  Partnership's Balance Sheet. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Subordination        by Managing General Partner**

**NOTE        4 – COMPREHENSIVE INCOME**

|                                                                                                                                                                                                                                                                                                                                                                            |   |                               |       |   |                               |   |    |                               |   |   | **Period                  Ended**  |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|------------|--------|------------------------------------|--------|---------|------------------------------------|--------|--------|------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                            |   | **Three                  Months**  |       |   | **Three                  Months**  |   |    | **Nine                  Months**   |   |   | **May                  9, 2006**   |   |
|                                                                                                                                                                                                                                                                                                                                                                            |   | **Ended**                          |       |   | **Ended**                          |   |    | **Ended**                          |   |   | **Through**                        |   |
|                                                                                                                                                                                                                                                                                                                                                                            |   | **September                  30,** |       |   | **September                  30,** |   |    | **September                  30,** |   |   | **September                  30,** |   |
|                                                                                                                                                                                                                                                                                                                                                                            |   | **2007**                           |       |   | **2006**                           |   |    | **2007**                           |   |   | **2006**                           |   |
|                                                                                                                                                                                                                                                                                                                                                                            |   |                               |       |   |                               |   |    |                               |   |   |                               |   |
| Net                  earnings                                                                |   | $                                  | 3,203,500  |   |                               | $      | 462,200 |                               |   | $      | 7,799,600                          |   |   | $ | 475,600 |   |
| Other                  comprehensive income:                                                                                                                                                                                                                                                                                                                                    |   |                               |       |   |                               |   |    |                               |   |   |                               |   |   |   |   |   |
| Unrealized                  holding gain on hedging contracts                                                                                                                                                                                                                                                                                                                   |   |                               | 2,114,000  |   |                               |   | 477,700 |                               |   |   | 909,800                            |   |   |   | 477,700 |   |
| Less:                  reclassification adjustment for gains realized in net                  earnings                                                                                                                                                                                                                                                                          |   |                               | (1,087,300 | )      |                               |   | (21,300 | )                                  |   |   | (2,763,100                         | )      |   |   | (21,300 | ) |
|                                                                                                                                                                                                                                                                                                                                                                            |   |                               | 1,026,700  |   |                               |   | 456,400 |                               |   |   | (1,853,300                         | )      |   |   | 456,400 |   |
| Comprehensive                  income                                                        |   | $                                  | 4,230,200  |   |                               | $      | 918,600 |                               |   | $      | 5,946,300                          |   |   | $ | 932,000 |   |

**ATLAS        AMERICA PUBLIC #15-2006(B) L.P.**

**NOTES        TO FINANCIAL STATEMENTS (Continued)**

**September        30, 2007**

**(Unaudited)**

**NOTE        5 – DERIVATIVE INSTRUMENTS**

**ATLAS        AMERICA PUBLIC #15-2006(B) L.P.**

**NOTES        TO FINANCIAL STATEMENTS (Continued)**

**September        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)**                 |       |
|                                   | **September                  30,** |   | ** **                       | **(1)**   |   |                             | **(per                  MMBTU)** |   |                            | ** ** | **(2)** |   |
|                                   |                               |   |                             |      |   |                             |                             |   |                            |       |   |   |
|                                   | 2008                               |   |                             | 3,061,400 |   |                             | $                                | 8.69   |                            |       | $ | 2,299,000 |   |
|                                   | 2009                               |   |                             | 2,982,300 |   |                             | $                                | 8.41   |                            |       |   | 461,400 |   |
|                                   | 2010                               |   |                             | 2,010,800 |   |                             | $                                | 7.87   |                            |       |   | (550,600 | ) |
|                                   | 2011                               |   |                             | 1,101,400 |   |                             | $                                | 7.46   |                            |       |   | (462,700 | ) |
|                                   | 2012                               |   |                             | 226,000   |   |                             | $                                | 7.37   |                            |       |   | (97,900 | ) |
|                                   |                               |   |                             |      |   |                             |                             |   |                            |       | $ | 1,649,200 |   |

| **Costless                  Collars** |                               |                            |   |                             |      |   |                                 |                             |   |                            |       |
|---------------------------------------|------------------------------------|---------------------------------|--------|----------------------------------|-----------|--------|--------------------------------------|----------------------------------|--------|---------------------------------|------------|
|                                  |                               |                            |   |                             |      |   |                                 |                             |   | **Fair                  Value** |       |
|                                  | **Twelve                  Month**  |                            |   | **Volumes**                      |      |   | **Average**                          |                             |   | **Asset**                       |       |
|                                  | **Period                  Ending** | **Option**                      |   | **(per                  MMBTU)** |      |   | **Floor                  & Cap** |                             |   | **(Liability)**                 |       |
|                                  | **September                  30,** | **Type**                        |   | ** **                       | **(1)**   |   |                                 | **(per                  MMBTU)** |   |                            | ** ** | **(2)** |   |
|                                  |                               |                            |   |                             |      |   |                                 |                             |   |                            |       |   |   |
|                                  | 2008                               | Puts                  purchased |   |                             | 84,700    |   |                                 | $                                | 7.50   |                            |       | $ | 59,100 |   |
|                                  | 2008                               | Calls                  sold     |   |                             | 84,700    |   |                                 | $                                | 8.60   |                            |       |   | — |   |
|                                  | 2008                               | Puts                  purchased |   |                             | 220,300   |   |                                 | $                                | 7.50   |                            |       |   | 61,100 |   |
|                                  | 2008                               | Calls                  sold     |   |                             | 220,300   |   |                                 | $                                | 9.40   |                            |       |   | — |   |
|                                  | 2009                               | Puts                  purchased |   |                             | 73,400    |   |                                 | $                                | 7.50   |                            |       |   | — |   |
|                                  | 2009                               | Calls                  sold     |   |                             | 73,400    |   |                                 | $                                | 9.40   |                            |       |   | (6,000 | ) |
|                                  | 2010                               | Puts                  purchased |   |                             | 406,700   |   |                                 | $                                | 7.75   |                            |       |   | 27,100 |   |
|                                  | 2010                               | Calls                  sold     |   |                             | 406,700   |   |                                 | $                                | 8.75   |                            |       |   | — |   |
|                                  | 2011                               | Puts                  purchased |   |                             | 135,600   |   |                                 | $                                | 7.75   |                            |       |   | (700 | ) |
|                                  | 2011                               | Calls                  sold     |   |                             | 135,600   |   |                                 | $                                | 8.75   |                            |       |   | — |   |
|                                  | 2011                               | Puts                  purchased |   |                             | 1,016,700 |   |                                 | $                                | 7.50   |                            |       |   | 45,100 |   |
|                                  | 2011                               | Calls                  sold     |   |                             | 1,016,700 |   |                                 | $                                | 8.45   |                            |       |   | — |   |
|                                  | 2012                               | Puts                  purchased |   |                             | 338,900   |   |                                 | $                                | 7.50   |                            |       |   | — |   |
|                                  | 2012                               | Calls                  sold     |   |                             | 338,900   |   |                                 | $                                | 8.45   |                            |       |   | (4,700 | ) |
|                                  | 2012                               | Puts                  purchased |   |                             | 1,220,000 |   |                                 | $                                | 7.50   |                            |       |   | — |   |
|                                  | 2012                               | Calls                  sold     |   |                             | 1,220,000 |   |                                 | $                                | 8.45   |                            |       |   | (4,500 | ) |
|                                  | 2013                               | Puts                  purchased |   |                             | 406,700   |   |                                 | $                                | 7.00   |                            |       |   | — |   |
|                                  | 2013                               | Calls                  sold     |   |                             | 406,700   |   |                                 | $                                | 8.37   |                            |       |   | (3,600 | ) |
|                                  |                               |                            |   |                             |      |   |                                 |                             |   |                            |       | $ | 172,900 |   |
|                                  |                               |                            |   |                             |      |   |                                 |                             |   |                            |       |   |   |   |
|                                  |                               |                            |   |                             |      |   |                                 | Net                  Asset       |   |                            | $          | 1,822,100 |   |

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

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

**ATLAS        AMERICA PUBLIC #15-2006(B) L.P.**

**NOTES        TO FINANCIAL STATEMENTS (Continued)**

**September        30, 2007**

**(Unaudited)**

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

|                                                                                                                                                                                                                                                                                                            |   | **September                  30, 2007** |       |   | **December                  31, 2006** |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|------------|--------|----------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                            |   | **Book                  Value**         |       |   | **Fair                  Value**        |   |   | **Book                  Value** |   |   | **Fair                  Value** |   |
| Assets                                                                                                                                                                                                                                                                                                          |   |                                    |       |   |                                   |   |   |   |   |   |   |   |
| Derivative                  instruments                                             |   | $                                       | 4,422,000  |   |                                   | $      | 4,422,000 |   |   | $ | 3,985,800 |   |   | $ | 3,985,800 |   |
|                                                                                                                                                                                                                                                                                                            |   | $                                       | 4,422,000  |   |                                   | $      | 4,422,000 |   |   | $ | 3,985,800 |   |   | $ | 3,985,800 |   |
| Liabilities                                                                                                                                                                                                                                                                                                     |   |                                    |       |   |                                   |   |   |   |   |   |   |   |   |   |   |   |
| Derivative                  instruments                                             |   | $                                       | (2,599,900 | )      |                                   | $      | (2,599,900 | ) |   | $ | (310,400 | ) |   | $ | (310,400 | ) |
|                                                                                                                                                                                                                                                                                                            |   | $                                       | 1,822,100  |   |                                   | $      | 1,822,100 |   |   | $ | 3,675,400 |   |   | $ | 3,675,400 |   |

**ITEM        2.   MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION        OR PLAN OF 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**

|                                                 |   |                               |   |   |                               |   |    |                               |   |   | **Period                  Ended**  |   |
|------------------------------------------------------|--------|------------------------------------|--------|--------|------------------------------------|--------|---------|------------------------------------|--------|--------|------------------------------------|--------|
|                                                 |   | **Three                  Months**  |   |   | **Three                  Months**  |   |    | **Nine                  Months**   |   |   | **May                  9, 2006**   |   |
|                                                 |   | **Ended**                          |   |   | **Ended**                          |   |    | **Ended**                          |   |   | **Through**                        |   |
|                                                 |   | **September                  30,** |   |   | **September                  30,** |   |    | **September                  30,** |   |   | **September                  30,** |   |
|                                                 |   | **2007**                           |   |   | **2006**                           |   |    | **2007**                           |   |   | **2006**                           |   |
|                                                 |   |                               |   |   |                               |   |    |                               |   |   |                               |   |
| Production                  revenues (in thousands): |   |                               |   |   |                               |   |    |                               |   |   |                               |   |
| Gas                                                  |   | $                                  | 10,636 |   |                               | $      | 1,479   |                               |   | $      | 28,112                             |   |   | $ | 1,510 |   |
| Oil                                                  |   | $                                  | 596    |   |                               | $      | — |                               |   | $      | 780                                |   |   | $ | — |   |
| Total                                                |   | $                                  | 11,232 |   |                               | $      | 1,479   |                               |   | $      | 28,892                             |   |   | $ | 1,510 |   |
|                                                 |   |                               |   |   |                               |   |    |                               |   |   |                               |   |   |   |   |   |
| Production                  volumes:                 |   |                               |   |   |                               |   |    |                               |   |   |                               |   |   |   |   |   |
| Gas                  (mcf/day) (2)                   |   |                               | 13,468 |   |                               |   | 2,285   |                               |   |   | 11,769                             |   |   |   | 1,487 |   |
| Oil                  (bbls/day) (2)                  |   |                               | 97     |   |                               |   | — |                               |   |   | 45                                 |   |   |   | — |   |
| Total                  (mcfe/day) (2)                |   |                               | 14,050 |   |                               |   | 2,285   |                               |   |   | 12,039                             |   |   |   | 1,487 |   |
|                                                 |   |                               |   |   |                               |   |    |                               |   |   |                               |   |   |   |   |   |
| Average                  sales prices:               |   |                               |   |   |                               |   |    |                               |   |   |                               |   |   |   |   |   |
| Gas                  (per mcf) (1) (2)               |   | $                                  | 8.58   |   |                               | $      | 7.03    |                               |   | $      | 8.75                               |   |   | $ | 7.05 |   |
| Oil                  (per bbl) (2)                   |   | $                                  | 66.79  |   |                               | $      | — |                               |   | $      | 64.02                              |   |   | $ | — |   |
|                                                 |   |                               |   |   |                               |   |    |                               |   |   |                               |   |   |   |   |   |
| Average                  production costs:           |   |                               |   |   |                               |   |    |                               |   |   |                               |   |   |   |   |   |
| As                  a percent of sales               |   |                               | 18     | %      |                               |   | 15      | %                                  |   |   | 18                                 | %      |   |   | 14 | % |
| Per                  mcfe (2)                        |   | $                                  | 1.59   |   |                               | $      | 1.02    |                               |   | $      | 1.62                               |   |   | $ | 1.01 |   |
|                                                 |   |                               |   |   |                               |   |    |                               |   |   |                               |   |   |   |   |   |
| Depletion                  per mcfe                  |   | $                                  | 4.48   |   |                               | $      | 3.35    |                               |   | $      | 4.64                               |   |   | $ | 3.35 |   |

| (1)   | The                  average sales price per mcf before the effects of hedging was $7.71                  and                  $6.93 for the three months ended September 30, 2007 and 2006,                  respectively; and $7.89 and $6.95 for the nine months ended September                  30,                  2007 and the period ended September 30, 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**

**Evaluation        of Disclosure 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 Public #15-2006 (B) L.P.                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                  |   |   |
|                                                                                                                                                                                                                                                                                  |   |   |
|                                                                                                                                                                                                                                                                                  |   |   |
|                                                                                                                                                                                                                                                                                  |   | Atlas                  Resources, LLC, Managing General Partner |
|                                                                                                                                                                                                                                                                                  |   |   |
| Date:  November                  9, 2007                                                                                                                                                                                                                                    |   | By:/s/                  Freddie M. Kotek |
|                                                                                                                                                                                                                                                                                  |   | Freddie                  M. Kotek, Chairman of the Board of Directors, Chief Executive                  Officer |
|                                                                                                                                                                                                                                                                                  |   | and                  President |
|                                                                                                                                                                                                                                                                                  |   |   |
|                                                                                                                                                                                                                                                                                  |   |   |
| 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.                          |
|                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                  |   |   |
|                                                                                                                                                                                                                                                                                  |   |   |
| Date:  November                  9, 2007                                                                                                                                                                                                                                    |   | By:/s/                  Freddie M. Kotek |
|                                                                                                                                                                                                                                                                                  |   | Freddie                  M. Kotek, Chairman of the Board of Directors, Chief                  Executive |
|                                                                                                                                                                                                                                                                                  |   | Officer                  and President |
|                                                                                                                                                                                                                                                                                  |   |   |
|                                                                                                                                                                                                                                                                                  |   |   |
| Date:  November                  9, 2007                                                                                                                                                                                                                                    |   | By:/s/                  Matthew A. Jones |
|                                                                                                                                                                                                                                                                                  |   | Matthew                  A. Jones, Chief Financial Officer |
|                                                                                                                                                                                                                                                                                  |   |   |
|                                                                                                                                                                                                                                                                                  |   |   |
| Date:  November                  9, 2007                                                                                                                                                                                                                                    |   | By:/s/                  Nancy J. McGurk |
|                                                                                                                                                                                                                                                                                  |   | Nancy                  J. McGurk, Vice President, Chief Accounting Officer |
|                                                                                                                                                                                                                                                                                  |   |   |
|                                                                                                                                                                                                                                                                                  |   |   |
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