By OGJ editors
HOUSTON, Mar. 30 -- ATP Oil & Gas Corp. has begun producing its deepwater Atwater Valley Block 63 No. 4 well of the Telemark Hub in about 4,000 ft of water. The well is produced to ATP's Titan deep-draft floating drilling and production platform.
T. Paul Bulmahn, ATP’s chairman and chief executive officer, said, “Although ATP slowed development and capital expenditures during 2008-09, this billion-dollar deepwater project is now on production within 46 months from acquisition of the first Telemark Hub property. That is only 3.8 years from acquisition by ATP to first production in 4,000 ft of water. Offshore data shows that the average for deepwater developments utilizing tension-leg platforms is 94.3 months or just under 8 years and spar installations averaged 55.6 months or just under 5 years from discovery to first production."
ATP said the next Telemark Hub well scheduled to produce is Mississippi Canyon 941 No. 3. The well was drilled to 20,043 ft and encountered 266 ft of net pay sands, about triple the 87 ft of net pay sands found in the original discovery well, ATP said.
ATP drilled the third well, MC 941 No. 4, and the fourth well at MC 942 No. 2 to 12,000 feet and this year plans to finish drilling and completing the wells to TD.
ATP owns a 100% working interest and is the operator Telemark Hub.