ATP Begins Production at Fourth Ship Shoal 358 Well

ATP Oil & Gas has begun production from its fourth well at Ship Shoal Block 358 in the Gulf of Mexico.

ATP reached total depth with gas pay at its Ship Shoal 358 #A-4 well at a depth of 7,800 TVD. The well is completed in a Lentic sand. Based on the existing facilities configuration, Ship Shoal 358 has total current gross production of approximately 1,700 Bbls/d of condensate and 20 MMcf/d of natural gas from all four wells. ATP holds a 51 percent working interest and is the operator.

Gerald Schlief, ATP's Senior Vice President, stated, "We have already completed seven offshore wells in 2004, including one in the North Sea, with more projects planned for the remainder of the year. We had originally planned to drill two wells at Ship Shoal 358, however, based on the positive results of the first two wells we decided to expand the development to four wells, all of which are now on production."