ATP Oil & Gas Corp. (to be NYSE: ATP), Houston, registered a $172.5-million initial public offering of common stock with the Securities and Exchange Commission. Lehman Brothers Inc. will be lead underwriter; co-underwriters are CIBC World Markets, Dain Rauscher Wessels, Raymond James & Associates Inc. and Fidelity Capital Markets. The independent has not determined how many shares will be offered or in what price range. ATP primarily has been acquiring, developing and producing from properties on the Gulf of Mexico Outer Continental Shelf. It recently agreed to expand its operations into near-deepwater areas of the Gulf and to the British North Sea's southern gas basin. The company's approach is to acquire and exploit proved undeveloped reserves from major oil companies and large independents that do not consider the assets strategic. It tries to achieve a high return on its investments by limiting up-front costs and quickly developing its acquisitions, according to its S-1 filing with the SEC. During 1999, ATP replaced 413% of its production through acquisitions and development and achieved an average reserve replacement ratio of 318% for the 1997-99 period. It has leases and other interests in 40 offshore blocks, 20 platforms and 50 wells, including five subsea wells, in the federal waters of the Gulf of Mexico. ATP operates 45 of the 50 wells, including all of the subsea wells, and 90% of its offshore platforms. Based on its proven reserves as of Dec. 31, 1999, ATP's average working interest in its properties is approximately 90%. Its 1999 year-end net proved reserves totaled 104.1 billion cubic feet of natural gas equivalent, 90% gas, according to the filing. Dynetek Industries Ltd. (Toronto: DNK), Calgary, completed an initial public offering of 5,333,334 common shares to Canadian investors at C$7.50 each for approximately C$40 million of gross proceeds. CIBC World Markets Inc. was lead underwriter, with Yorkton Securities Inc., Research Capital Corp., Canaccord Capital Corp., Dundee Securities Corp. and Pacific International Securities Inc. The Calgary manufacturer of compressed natural gas vehicle fuel storage systems granted the underwriters an option to purchase an additional 800,000 common shares at the issue price for 30 days following closing to cover any overallotments. The Shaw Group Inc. (NYSE: SGR), Baton Rouge, will sell 4 million common shares in a public offering that will draw down its $400-million shelf registration with the Securities and Exchange Commission. Merrill Lynch & Co. and Credit Suisse First Boston will serve as joint book-running managers for the offering. Morgan Keegan & Co. Inc., Raymond James & Associates Inc. and Jefferies & Co. Inc. will be comanagers. Of the equity expected to be sold, 1,768,227 shares will be offered by the engineering and construction company. The remaining 2,231,773 shares will be offered by Stone & Webster Inc. and certain affiliates, which received the stock in connection with Shaw's acquisition of most of Stone & Webster's operating assets in July. Shaw also granted the underwriters an option to purchase up to 600,000 additional common shares to cover any overallotments. The company plans to use all of the proceeds that it receives from the offering to repay borrowings under its revolving credit facility. Following this repayment, Shaw said that it then would use borrowing capacity under the revolver for general corporate purposes, including working capital and potential future acquisitions. Parker Drilling Co. (NYSE: PKD), Tulsa, will sell approximately 12 million common shares under an existing shelf registration, exclusive of any underwriter overallotment options. Lehman Brothers Inc. will be the offering's lead manager, with Jefferies & Co. and RBC Dominion Securities as comanagers. The drilling contractor will use net proceeds to acquire, upgrade and refurbish certain offshore and land rigs in response to growing U.S. and international demand. Parker Drilling also will use part of the money it raises to repay debt and for other general corporate purposes. Mallon Resources Corp. (Nasdaq: MLRC), Denver, registered to sell 2.5 million new shares of its common stock. The Denver independent intends to use the majority of the net proceeds from the proposed offering to finance its exploration and development activities at East Blanco Field in New Mexico's San Juan Basin. Warburg, Pincus Equity Partners LP, New York, agreed to fund Cheniere Energy Inc.'s (Nasdaq: CHEX) exploration program on the Fairfield database through a newly formed subsidiary, Gryphon Exploration Co. Cheniere president Michael L. Harvey will resign and become chairman of Gryphon as part of the agreement. Cheniere and Warburg Pincus expect to close the deal during October. Petrie Parkman & Co. advised Cheniere in connection with the transaction. The global private equity fund will contribute $25 million and receive preferred stock, with an 8% accrued dividend, that will be convertible into 63.2% of Gryphon's common stock. Cheniere will contribute assets that include approximately 8,800 square miles of Gulf of Mexico 3-D seismic data that it acquired from Fairfield Industries Inc., certain offshore leases, its Shark prospect (which currently is being drilled) and its joint exploration agreement with Samson Offshore Co. Cheniere and Warburg Pincus also agreed to contribute their respective shares of an additional $75 million to Gryphon under certain circumstances. In addition to its 36.8% interest in Gryphon, the Houston independent will maintain ownership of its currently producing properties with reserves valued at $12.1 million as of June 30. Cheniere also will keep its proprietary 3-D seismic data set in Louisiana's Cameron area, a license to 1,900 square miles of 3-D seismic data recently acquired from Seitel Data Ltd. and the option to license an additional 3,100 square miles of data from Seitel. Pembina Pipeline Income Fund (Toronto: PIF.UN), Calgary, filed a preliminary short-form prospectus for a proposed C$125-million offering of units to Canadian investors. Scotia Capital Inc. will lead the offering syndicate. The income fund plans to use proceeds of the offering to reduce bank debt incurred in the acquisition of Federated Pipe Lines Ltd. The units have not been registered for offering or sale in the United States. NAL Oil & Gas Trust (Toronto: NAE.UN), Calgary, will offer 4.3 million units for C$38.27 million, or C$8.90 per unit, to Canadian investors. RBC Dominion Securities Inc. is lead underwriter. The open-end investment trust, which expected to close the offering by Oct. 2, granted the underwriters an option to purchase up to 645,000 more units at the same price to cover any overallotments. It will use its share of the proceeds to repay outstanding debt, including obligations assumed with the Draig Energy Ltd. acquisition. NAL will use the balance to fund the C$7 million remaining in the 2000 capital development program and for general corporate purposes. The units have not been registered for offering or sale in the United States. PrimeWest Energy Trust (Toronto: PWI.UN), Calgary, will sell 4.2 million units at C$8.35 each to Canadian investors for approximately C$35 million. CIBC World Markets Inc. will be lead underwriter. The Calgary royalty trust granted the underwriters the option to buy an another 630,000 units to cover any overallotments. K2 Energy Corp. (Toronto: KTO), Calgary, raised approximately US$1 million through the private placement of units with U.S. investors. The independent raised the money with private placements of 2,439,375 units at US32 cents each and 662,000 units at C47 cents each. Each unit consists of one K2 common share and one warrant to purchase an additional common share at C50 cents for 18 months after the issue date. K2 will use the money to drill prospects on its leases on the Blackfeet Indian Reservation in northern Montana. Cyprus Capital Corp. (Canadian Venture: CJA), Calgary, raised C$250,000 by privately placing approximately 833.3 million units with Canadian investors at C30 cents each. Each unit consists of one flow-through common share of the producer and one-half-share purchase warrant. Each full warrant may be exercised for an additional common share for C30 cents for one year following the issue date. Cyprus Capital expects to raise another C$1.2 million from the sale of additional units. It also has granted options to purchase 880,000 common shares: 450,000 at a C15-cent-per-share exercise price and 430,000 at a C19-cent-per-share exercise, under its stock option plan.