Gulf of Mexico: ATP sells deep interests at Telemark

By OGJ editors

ATP Oil & Gas Corp., Houston, has sold its interest in the deep rights below 23,499 ft true vertical depth subsea in one of its Telemark Hub properties in the US Gulf of Mexico to a third party for an undisclosed sum, resulting in a gain estimated at $26 million.

ATP retained a 1% overriding royalty interest. The company said it is “eager to encourage exploration into deeper horizons” near the ATP Titan, which has a design capacity of 25,000 b/d of oil and 50 MMcfd of gas and can accommodate additional production.

ATP operates the deepwater Telemark Hub with a 100% working interest and owns 100% of the subsidiary that owns the ATP Titan and associated pipelines and infrastructure that handle output from the Atwater Valley and Mississippi Canyon areas.

Related Articles

Financial questions seen for US shale gas, tight-oil plays

03/25/2014 Financial problems of operators in US shale gas and tight oil plays might hold production growth below current expectations, according to the autho...

BOEM: Firms bid $850 million in high bids in central gulf lease sale

03/24/2014 The US Bureau of Ocean Energy Management reported that its central Gulf of Mexico Lease Sale 231 received 380 bids from 50 companies on 326 blocks,...

Statoil makes gas find on flank of Visund field in North Sea

03/24/2014 Statoil Petroleum AS has made a natural gas discovery on the northeast flank of Visund field in the northern part of the North Sea, the Norwegian P...

CNOOC makes natural gas discovery in Bohai Bay

03/24/2014 CNOOC Ltd. has made what it describes as a “mid-sized” natural gas discovery in the Bozhong 22-1 structure in the south-central region of Bohai Bay.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected