ATP Oil & Gas was the apparent high bidder out of three bids submitted to the
Minerals Management Service (MMS) on Green Canyon Block 37 at the
Central Gulf of Mexico (GOM) Offshore Lease Sale held on March 15 in New Orleans. If the block is awarded, ATP's financial outlay
will be $3.3 million with the company owning a 100-percent working interest
and serving as operator of the property.
"ATP continues to follow a consistent strategy of acquiring for
development properties that have already shown a presence of
hydrocarbons," said Gerald W. Schlief, ATP's senior vice president. "Green Canyon 37 was originally drilled in 1996 and
logged both gas and oil pay sands, but was not taken to development
during a period of relatively low oil and gas prices. We are currently
evaluating these sands and potentially other horizons on the block.
The block is located in approximately 1,800 feet of water and, if
awarded, will be added to our three-year development plan."
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