ATP Oil & Gas Corporation (reports minimal impact from Hurricane Gustav based on preliminary inspections of its production and drilling operations in the Gulf of Mexico.

Hurricane Gustav's path was about 12 miles east of the ATP Innovator, moored at ATP's Mississippi Canyon Block 711 "Gomez" Hub; however, the Innovator held position and initial assessments found no significant damage.

Prior to Gustav's arrival all ATP personnel were evacuated from producing platforms expected to be in the path of the storm. In addition, various platforms, production facilities and pipelines operated by others which process and transport ATP production were similarly shut-in and evacuated. As a result of these temporary shut-ins, approximately 1-2 Bcfe of ATP's production will be deferred from the third quarter.

The total duration of the shut-in production is unknown; however, ATP has reestablished production at a number of its facilities including Canyon Express, Garden Banks 409, and East Cameron 299.

Tags: ATP Oil & Gas Corporation