King's Peak was shut in pursuant to Hurricane Rita; however, production was reestablished on September 26, 2005. Located in approximately 5700 to 6800 feet of water, King's Peak contains proved producing and proved undeveloped reserves; in addition, there are probable and possible reserves.
"This is a strategic acquisition for ATP," stated T. Paul Bulmahn, Chairman and President of ATP. "King's Peak expands our deep water portfolio by providing ATP another significant property in the Mississippi Canyon area. It provides an immediate increase in current production while providing a future component for our development inventory. With the addition of proved reserves ATP is closer to achieving its stated goal of a 200% reserve replacement for 2005."
Most Popular Articles
From the Career Center
Jobs that may interest you