ATP Oil & Gas Corp.

Transaction Type
Sellers
Marketers
Post Date
Estimated Price
MM
Description

ATP Oil & Gas Corp., Houston, (Nasdaq: ATPG) has retained Scotia Waterous (USA) Inc. to sell a portion of its working interests in certain producing and undeveloped properties in the Gulf of Mexico. ATP plans to offer working interests in a number of its holdings, consisting of properties which together constitute approximately 80% of the pre-tax PV10 value of ATP's total proved plus probable reserves, including its deepwater producing Gomez Hub (MC 711 and MC 755) and the emerging hub at Telemark (MC 941/942 and AT 63). ATP intends to continue to serve as the operator of each of its properties after the sale of partial working interests. ATP chairman and president T. Paul Bulmahn says, "We believe material value has been created by our successful execution of development activities at ATP's offshore hubs and we will continue to execute on the development of our extensive inventory of reserves." Contact Adrian Goodisman, 713-437- 5050.