Area Drilling

Gulf of MexicoATP Oil & Gas Corp., Houston, acquired a 55% working interest in and operatorship of the producing King’s Peak gas field in the eastern Gulf of Mexico.Consideration is $18.6 million. BP PLC formerly operated the field, which ATP said contains significant future development opportunities.ATP, which acquired the field on Sept. 21, returned it to production Sept. 26 after shut-in for Hurricane Rita. King’s Peak is in 5,700-6,800 ft of water 160 miles south of Mobile, Ala., on Mississippi Canyon 173 and 217 and De Soto Canyon 133 and 177.The field has proved producing and proved undeveloped reserves and probable and possible reserves, ATP said.

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