ATP to operate Clipper in GoM

ATP Oil & Gas Corp. has acquired a 55% working interest in Gulf of Mexico Green Canyon Blocks 299 and 300, collectively known as Clipper, with wells in 3,400 ft (1036 m) of water.

Offshore staff

HOUSTON -- ATP Oil & Gas Corp. has acquired a 55% working interest in Gulf of Mexico Green Canyon Blocks 299 and 300, collectively known as Clipper, with wells in 3,400 ft (1036 m) of water.

ATP plans to complete one existing well and sidetrack and complete a second well. A tieback to existing infrastructure is anticipated, with first production in 4Q 2009. Four wells drilled in 2005 and 2006 logged hydrocarbons, but none were developed.

"Over the next 18 months, ATP plans to develop Clipper by procuring equipment, completing and tying-back two wells for over 60 Bcfe of reserve potential," says George R. Morris, COO.

06/30/2008

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