ATP Oil & Gas

Latest ATP Oil & Gas News

• Production in first quarter 2012 was 2.0 MMBoe (million barrels of oil equivalent) of which 63% was oil and condensate, compared to 2.3 MMBoe in the first quarter 2011 of which 68% was oil and condensate.

• This award confirms GE's capability to efficiently manage different activities across several business sectors and customer offices in the U.K. and Houston in order to offer tailored solutions to specific customer requirements.

• ATP expects to announce results during the third quarter of 2012.

• ATP has had an exceptionally strong development success record of 98% of taking projects to production that were previously undeveloped and non-producing.

• Engineering and project management will commence from our Aberdeen office in 2012, with offshore operations due to begin in 2014.

• The umbilicals will control four drill centers from a floating semi-submersible production facility.

• Revenues from oil and gas production were $687.2 million in 2011 compared to $438.0 million in 2010, an increase of 57%.
• ATP reported year-end 2011 proved reserves of 118.9 MMBoe compared to 126.4 MMBoe at year-end 2010.
• Production for first quarter 2012 is expected to fall within the range of 1.8 - 2.1 MMBoe.

• The First Lien expansion was increased from $140 million to $155 million and the interest rate was reduced from a floating 9.00% to 8.75% per annum.

• When drilled, the MC 942 A-3 well encountered 239 feet of net pay.

• The early production rate performance has met expectations and the rate of oil production is being increased.

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