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Friday, October 21, 2016

ATP Wins GOM Lease

October 13, 2005

ATP Oil & Gas Corporation reported that it was awarded two of the three blocks for which it was the apparent high bidder at the Western Gulf of Mexico Offshore Lease Sale held in New Orleans this past August. ATP is the operator and has a 100% working interest in the blocks, Garden Banks 228 and High Island A-391, which were awarded at a total cost of approximately $0.6 million dollars. Garden Banks Block 228 is located in approximately 745 feet of water and has one well that was drilled to 16,897' TVD in 2003, and it logged apparent gas pay. High Island Block A-391 is located in approximately 214 feet of water. It has one well that was drilled to 10,995' TVD in 1977, and is the planned drill site for ATP's High Island Block A-392 development. Stated Senior Vice President Gerald W. Schlief, "With the awarding of these two properties, ATP continues to build its inventory of development opportunities and to fulfill the Company's primary objective, which is to acquire, develop and aggressively establish production from oil and gas properties with apparent oil and gas reserves."

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