MMS Okays ATP's Green Canyon Bid

The Minerals Management Service (MMS) has approved ATP Oil & Gas' apparent high bid for Green Canyon Block 37 at the recent Central Gulf of Mexico Offshore Lease Sale, ATP reports.

ATP's financial outlay for the block will be $3.3 million, with the company serving as operator and owning a 100-percent working interest. The block logged gas and oil pay sands when it was initially drilled 10 years ago but was never developed during a relatively low period of oil and gas prices.

The property is located in 1,801 feet of water.

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