Hurricane Rita and its predecessor Hurricane Katrina impacted the timing of, but did not affect the development operations themselves, at the Company's Mississippi Canyon 711 (MC 711) property. Neither the Ocean Voyager nor the Rowan Midland was at MC 711 when Rita made its pass through the Gulf. The Diamond Offshore Drilling, Inc. (Diamond) semi submersible drilling rig Ocean Voyager was undergoing repairs at Sabine Pass as a result of Hurricane Katrina. On September 7, 2005, Diamond projected reported repairs to take four to eight weeks, after which the rig is to return to ATP's MC 711 development. Modifications to the Rowan Midland, the production facility, continue with module hookup in progress. According to reports from both Diamond and Rowan, only slight delays to the schedule are anticipated. Based on these reports and current development operations, ATP continues in its plan to deliver first production at MC 711, ATP's largest property in terms of proved reserves, late in the 4th quarter of 2005. ATP will provide progress reports on bringing MC 711 to production as it receives additional information on the development operations.
The hurricanes had no impact on ATP's North Sea operations with development operations proceeding on schedule. At L-06d in the Netherlands, first production is projected before year-end 2005. Helvellyn in the UK Sector is projected to return to production during the middle of the fourth quarter 2005. At Tors in the UK Sector, first production is scheduled for early 2006 with the continuing possibility of production before year-end 2005.
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