ATP Oil & Gas Corporation announced that its bids for Atwater Valley Block 19 and Block 62 in the deepwater Gulf of Mexico have been accepted for award by the MMS. Atwater Valley Block 19 is located in approximately 4,199 of water, and Atwater Valley Block 62 is located in approximately 4,173 feet of water; and both are contiguous to ATP’s Telemark Hub. ATP acquired a 100% working interest in both blocks for a total cost of $463,980 and will serve as operator of each block.
With the acquisition of Atwater Valley Block 19 and Block 62, ATP expands its interest in the Telemark Hub consisting of already discovered reserves at Mirage, Morgus and Telemark, each 100% owned and operated by ATP. ATP is currently developing the Telemark Hub with first production expected in the first half of 2009 with additional production expected to be added in 2010.
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