ATP Titan Hull to Take Its Name

ATP Oil & Gas will officially name its new floating deepwater drilling and production facility the ATP Titan during a formal ceremony on Wednesday, August 26th at the Gulf Marine Fabricators yard near Aransas Pass, Texas.

"When installed on site, this will be the first deepwater U.S.-built multi-column, deep draft, floating drilling and production platform in the Gulf of Mexico," commented T. Paul Bulmahn, ATP's Chairman and CEO. "At an installed cost of $600 million the ATP Titan is approximately 726 feet from its base to the top of its derrick or roughly the height of a 70-story building. It features ample deck space for third party growth and initially will have a design capacity of 25 MBbls/d of oil and 50 MMscf/d of gas to service ATP's Telemark Hub.

"After fully producing at ATP's Mirage (Mississippi Canyon 941) and Morgus (Mississippi Canyon 942) reserves, the ATP Titan will later be redeployed to ATP's development at Atwater Valley Block 63. The ATP Titan allows for installation in water depths of 1,500 to 9,500 feet. With an expected life of 40 years, it is anticipated that the ATP Titan will be reused and redeployed multiple times during its life span."