Israel: ATP eyes licenses in Levant basin

ATP Oil & Gas Corp., Houston, has signed agreements to acquire five licenses, of which two are pending, in 4,000 ft of water in the Levant basin off Israel, subject to ministerial approval.

By OGJ editors
HOUSTON, Feb. 24
– ATP Oil & Gas Corp., Houston, has signed agreements to acquire five licenses, of which two are pending, in 4,000 ft of water in the Levant basin off Israel, subject to ministerial approval.

ATP will operate all its licenses with 40-50% working interests. Upon the award of the licenses, expected before the end of March 2011, ATP will discuss its estimated capital program projected to be minimal in 2011 and resource potential for the acquisitions.

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