ATP Increases Net Production to 82 MMcfe/d in Gulf


Ship Shoal & Matagorda Island OCS Blocks
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ATP Oil & Gas reports that as a result of it's current development activities at Matagorda Island 709 and Ship Shoal 358, the Company's net current daily production has increased from the previously announced rate of 75 million cubic feet of natural gas equivalent per day (MMcfe/d) to 82 MMcfe/d. In addition, ATP is completing a well at Garden Banks 186 and drilling a second well at Ship Shoal 358.

At Matagorda Island 709, ATP is the operator with a 62.5% working interest. The remaining interest is held by NI Energy Venture, Inc., an affiliated company of Nissho Iwai Corporation, and Hunt Chieftain Development L.P. At Ship Shoal 358, ATP is the operator and has a 51% working interest. The remaining interest is held by NI Energy Venture, Inc. and Magnum Hunter Resources, Inc.

"ATP continues to execute its business plan of developing proved undeveloped reserves and ATP has increased production from approximately 40 MMcfe/d at January 1, 2004 to approximately 82 MMcfe/d, an increase of more than 100% in less than 90 days," stated T. Paul Bulmahn, Chairman and President of ATP.
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