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EX-31.2 - CERTIFICATION PURSUANT TO RULE 13A-14/15(D)-14 - Atlas Resources Series 28-2010 L.P.d431585dex312.htm
v2.4.0.6
Derivative Instruments (Tables)
9 Months Ended
Sep. 30, 2012
Derivative Instruments [Abstract]  
Commodity Derivatives [Table Text Block]

Natural Gas Put Options

 

 

 

 

 

 

 

Production

 

 

 

 

 

 

Period Ending

 

 

 

Average

 

Fair Value

December 31,

 

Volumes

 

Strike

 

Asset (2)

 

 

(mmbtu) (1)

 

(per mmbtu) (1)

 

 

 

 

 

 

 

 

 

2012

 

            117,100

 

$                        2.800

 

$                     1,200

2013

 

            351,200

 

              3.450

 

                     73,300

2014

 

            292,700

 

              3.800

 

                  101,000

2015

 

            234,100

 

              4.000

 

                  103,100

2016

 

            234,100

 

              4.150

 

                  126,100

 

 

 

 

 

 

$                404,700

 

 

Natural Gas Fixed Price Swaps

 

 

 

 

 

 

 

Production

 

 

 

 

 

 

Period Ending

 

 

 

Average

 

Fair Value

December 31,

 

Volumes

 

Fixed Price

 

Liability (2)

 

 

(mmbtu) (1)

 

(per mmbtu) (1)

 

 

 

 

 

 

 

 

 

2012

 

                     —

 

$                           —

 

$                              —

2013

 

          950,400

 

                3.659

 

               (175,300)

2014

 

          691,200

 

                4.035

 

                 (99,900)

2015

 

          576,000

 

                4.224

 

                 (82,800)

2016

 

          229,700

 

                4.460

 

                 (19,400)

 

 

 

 

 

 

$                                (377,400)

 

 

 

 

 

 

 

 

 

 

 

Total Net Asset

 

$                                27,300

____________

 

(1)                 "Mmbtu" represents million British Thermal Units.

(2)                 Fair value based on forward NYMEX natural gas prices, as applicable.

Fair Value of Derivative Instruments [Table Text Block]

 

 

 

 

Fair Value

 

Derivatives in Cash Flow Hedging Relationships

 

Balance Sheet

Location

 

September 30,

2012

 

 

 

 

 

Derivative Commodity Contracts

 

Current Assets

 

$           53,800

 

 

Long-Term Assets

 

           350,900

 

 

 

 

           404,700

 

 

 

 

 

 

 

Current liabilities

 

            (92,300)

 

 

Long-term liabilities

 

          (285,100)

 

 

 

 

          (377,400)

 

 

 

 

 

 

 

Total

 

$           27,300

Effects of Derivative Instruments on Statements of Operations [Table Text Block]
                 

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30,

 

September 30,

 

 

2012

 

2011

 

2012

 

2011

Loss recognized in accumulated OCI

 

$      (621,500)

 

$              —

 

$    (679,400)

 

$    (113,900)

Gain reclassified from accumulated OCI into income

 

$    1,121,800

 

$   548,700

 

$  2,461,300

 

$  1,208,500

Gross Fair Values of Receivable and Payable Affiliate Balances [Table Text Block]

 

 

Gross Amounts

 

Gross Amounts

 

Net Amount of Assets

 

 

of Recognized

 

Offset in the

 

Presented in the

 

 

Assets

 

Balance Sheets

 

Balance Sheets

 

 

 

 

 

 

 

Offsetting Derivative Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

As of September 30, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable monetized gains-affiliate

 

$         2,853,900

 

$          (159,300)

 

$                       2,694,600

Long-term accounts receivable monetized

gains-affiliate

 

 

              979,500

 

 

            (547,400)

 

 

                            432,100

Short-term hedge swaps

 

                  4,100

 

                (4,100)

 

                                     —

Long-term hedge swaps

 

                12,800

 

              (12,800)

 

                                     —

 

 

 

 

 

 

 

Total

 

$         3,850,300

 

$          (723,600)

 

$                       3,126,700

 

 

 

 

 

 

 

As of December 31, 2011

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable monetized gains-affiliate

 

$         4,394,800

 

$                     —

 

$                       4,394,800

Long-term accounts receivable monetized

gains-affiliate

 

 

           2,867,600

 

 

                       —

 

 

                         2,867,600

 

 

 

 

 

 

 

Total

 

$         7,262,400

 

$                     —

 

$                       7,262,400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Amounts

 

Gross Amounts

 

Net Amount of Liabilities

 

 

of Recognized

 

Offset in the

 

Presented in the

 

 

Liabilities

 

Balance Sheets

 

Balance Sheets

 

 

 

 

 

 

 

Offsetting Derivative Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

As of September 30, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

Put premiums payable-affiliate

 

$            (159,300)

 

$             159,300

 

$                                 —

Long-term put premiums payable-affiliate

 

              (547,400)

 

               547,400

 

                                   —

Short-term hedge swaps

 

                (96,400)

 

                   4,100

 

                           (92,300)

Long-term hedge swaps

 

              (297,900)

 

                 12,800

 

                         (285,100)

 

 

 

 

 

 

 

Total

 

$         (1,101,000)

 

$             723,600

 

$                       (377,400)

 

 

 

 

 

 

 

As of December 31, 2011

 

 

 

 

 

 

 

 

 

 

 

 

 

Put premiums payable-affiliate

 

$                      —

 

$                      —

 

$                                 —

Long-term put premiums payable-affiliate

 

                        —

 

                        —

 

                                   —

 

 

 

 

 

 

 

Total

 

$                      —

 

$                      —

 

$                                 —