ATP Oil & Gas Corporation (NASDAQ:ATPG) today announced first oil production at its Mississippi Canyon Block 942 A-3 (#2) well, the fourth well at its Telemark Hub. The oil production rates are gradually being increased as the well goes through the initial stages of production. The early production rate performance has met expectations and the rate of oil production is being increased. Further information will be reported as it becomes available. The MC 942 A-3 well is located on the Morgus Field and is the fourth well brought on production at the Telemark Hub location utilizing the ATP Titan floating drilling and production platform.
ATP operates the deepwater Telemark Hub in approximately 4,000 feet of water with a 100% working interest and holds a 100% ownership in ATP Titan LLC which owns the ATP Titan and associated pipelines and infrastructure.
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