Founded in 1991, ATP Oil & Gas is engaged in the development and production of oil and natural gas in the Gulf of Mexico and the North Sea. ATP acquires and then develops properties with proved but as yet undeveloped oil and gas reserves (PUDs). Since its inception in 1991, ATP has achieved a 97% success rate in converting nonproducing properties with PUDs to proved producing reserves.
The company achieved early success with a strong business plan and by attracting highly experienced people. As more powerful seismic technologies have become available, ATP has increased its rate of success and expanded its holdings in the Gulf of Mexico and internationally, in the North Sea.
In the Gulf of Mexico, ATP has leasehold and other interests in 50 offshore blocks. In the North Sea, ATP holds interests in eleven blocks in the UK sector and one block in the Dutch sector. ATP operates 98% of its properties based on their PV10 value.
ATP's international operations are focused in the North Sea. With offices in the UK and the Netherlands, ATP is aggressively expanding into this historically productive region.