ATP Says 30-35 MMcfe of Production is Shut In

ATP says all personnel were evacuated from producing platforms expected to be impacted by the storm prior to Katrina's arrival. In addition, several platforms and production facilities operated by others which process ATP production were similarly shut-in and evacuated. As a result of these temporary shut-ins, ATP's average daily net production was reduced by approximately 30-35 MMcfe per day. The total duration of the shut-in production is unknown; however, ATP anticipates reestablishing production at some of the locations before week's end.

In addition, Diamond Offshore said the semisubmersible, Ocean Voyager, broke free from its moorings at the ATP operated Mississippi Canyon Block 711 during Hurricane Katrina and is located approximately 9 miles north from its pre-storm position. Prior to Hurricane Katrina passing through the area, the Ocean Voyager was disconnected from the two ATP wells and personnel were evacuated. A limited crew from Diamond re-boarded the Ocean Voyager this morning in order to secure the unit and to further assess its condition. ATP is the operator of Mississippi Canyon 711 and will provide more updates when information becomes available.