By OGJ editors
HOUSTON, Nov. 21 -- ATP Oil & Gas Corp., Houston, spudded in early November 2003 the first two of wells at its Matia/Cabrito project in the northwestern Garden Banks area.
As operator with 80% working interest, the company expects to finish drilling and begin production within 60 days. The second well should go on line in the first half of 2004.
In 550 ft of water, Matia, on Block 142, and Cabrito, on blocks 186-187, is ATP's largest project since it developed Ladybug oil and gas field in 1,357 ft of water on Garden Banks Block 409 in 2001. Ladybug's cumulative production of 5.7 million boe exceeds original third party reserve estimates, the company said.
ATP is mobilizing a rig to drill and complete two development wells at Ship Shoal 358, where it is operator with 51% interest, and expects to start production in first half 2004.
Also, ATP acquired a 99% working interest in Mississippi Canyon 711 containing Gomez field in September 2003. Seller was RME Petroleum Co., a subsidiary of Anadarko Petroleum Corp.
Gomez, in almost 3,000 ft of water, was described as a 20-block discovery when it was held by Norcen Energy Resources Corp., Calgary, which Anadarko obtained when it acquired Union Pacific Resources Corp. (OGJ, Feb. 2, 1998, p. 30). The No. 4 and 4 ST1 wells in 2000 confirmed the 1997 Gomez discovery, encountering a combined 125 ft of oil and gas pay in two Lower Pliocene intervals. ATP did not divulge proved reserves but said its analysis indicates that MC 711 may be its largest US acquisition in terms of reserves.
ATP was awarded all four blocks on which it bid in western Gulf of Mexico Lease Sale 187 in August 2003, and it recently elected to exercise a preferential right to acquire the 30% working interest it didn't own in Ship Shoal 321, where gas production began in 1997 through subsea facilities.