ATP Oil & Gas (ATPG) Announces First Production at Mississippi Canyon 941 #3 Well

October 11, 2010 7:58 AM EDT
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ATP Oil & Gas Corporation (Nasdaq: ATPG) announces first oil production at its Mississippi Canyon 941 #3 well in the deepwater Gulf of Mexico.

Initial rate and associated pressures exceeded original expectations. The established rate at the well is in excess of 7,000 Boe per day.

The Mississippi Canyon 941 #3 well is located on the Mirage Field and is the second well brought on production at the Telemark Hub location utilizing the ATP Titan floating drilling and production platform. As per BOEM guidelines with initial production the MC 941#3 will be renamed the MC 941 A-1. When drilled, the A-1 well encountered four Miocene sands totaling 266 feet of pay. The A-1 well is completed at a measured depth of 16,300 feet in two of the discovered sands. Plans are to commingle production from the two completed sands.

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