"ATP Innovator" Becomes Deepwater Platform for Gomez Hub.HOUSTON -- ATP ATP: see adenosine triphosphate. ATP in full adenosine triphosphate Organic compound, substrate in many enzyme-catalyzed reactions (see catalysis) in the cells of animals, plants, and microorganisms. Oil & Gas Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ATPG ATPG Automatic Test Pattern Generation ATPG Automatic Test Program Generator ) today announced the naming of its floating offshore production platform the "ATP Innovator." The ATP Innovator, previously owned by Rowan and named the "Midland," was a semi-submersible drilling rig acquired by ATP and strategically converted in a short period of time to a floating production platform for the hub development of all of the Gomez reservoirs in the deepwater Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east . ATP installed the offshore facility in 3000' of water depth and initiated production within 16 months of project sanction. The ATP Innovator current processing capacity of 180 MMcfe/d will be further expanded by ATP during the summer to approximately 20,000 BBls/d of oil and 100 MMcf/d of natural gas (220 MMcfe/d). The production hub facility serves Mississippi Canyon ("MC") 711 (Gomez reservoirs) and potential spoke developments at MC 755 (Anduin) and certain exploratory opportunities at MC 667, MC 668, MC 754 (Anduin west) and MC 800 (Gladden glad·den v. glad·dened, glad·den·ing, glad·dens v.tr. To make glad. See Synonyms at please. v.intr. Archaic To be glad. Verb 1. ). ATP has a 100% ownership of the ATP Innovator, which is subsea connected to oil and gas transportation pipelines. About ATP Oil & Gas Corporation ATP Oil & Gas is an international offshore oil and gas development and production company with operations in the Gulf of Mexico and the North Sea. The company trades publicly as ATPG on the NASDAQ Global Select Market. Forward-looking Statements Certain statements included in this news release are "forward-looking statements" under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. ATP cautions that assumptions, expectations, projections, intentions, or beliefs about future events may, and often do, vary from actual results and the differences can be material. Some of the key factors which could cause actual results to vary from those ATP expects include changes in natural gas and oil prices, the timing of planned capital expenditures, availability of acquisitions, uncertainties in estimating proved reserves and forecasting production results, operational factors affecting the commencement or maintenance of producing wells, the condition of the capital markets generally, as well as our ability to access them, and uncertainties regarding environmental regulations or litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and other legal or regulatory developments affecting our business. More information about the risks and uncertainties relating to ATP's forward-looking statements are found in our SEC filings. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion