ATP Successfully Tests Second Clipper Well

ATP Oil & Gas Corporation today announced the successful completion and testing of the second Clipper well at rates of 9,000 Bbls per day and 4.6 MMcf per day. When combined with the first Clipper well this brings the total test rates to approximately 13.7 MBbls of oil per day and 50.2 MMcf of natural gas per day or 22 MBbls equivalent per day (62% oil).

The second Clipper well is the #4 well located at Green Canyon 300 (GC 300) in the deepwater Gulf of Mexico. The #4 well, located in approximately 3,450 feet of water, logged approximately 56 feet of net oil pay confirming reserves previously booked. The 9-5/8 inch casing was set at 15,778 feet measured depth through the pay intervals. In July 2011, ATP successfully completed and flow tested the first Clipper well, GC 300 #2 ST #1, at a rate of 4,656 Bbls per day and 45.6 MMcf per day.

The pipeline lay barge for the Clipper wells is contracted for third quarter 2012 and will tie in both the GC 300 #4 and #2 wells to the Murphy Oil-operated Front Runner production facility. ATP operates Clipper and presently owns a 100% working interest.


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