ATP Oil and Gas Corporation Q2 2008 Earnings Call Transcript

  • download
  • Print
  • Recommend
  • 0

2008-08-11 06:21:03.0

Tags: ATP Oil & Gas Corp.

Question-and-Answer Session

Operator

Thank you. (Operator instructions) We'll take our first question from Gary Nuschler with Jefferies and Company.

Gary NuschlerJefferies & Co.

Thanks. Good morning.

Paul Bulmahn

Good morning.

Gary NuschlerJefferies & Co.

First question, at Tors, it sounds like the compression project has been delayed a little bit. Can you remind us again what you're doing there and what the cause for the delay is?

Leland Tate

Yes. This is Leland Tate. Just to remind you, at Tors, we are – we have two platforms that we operate or actually are operated by a host and we flow through a host platform operated by another operator. The compression is on the host platform and they have two compressors there and have been having quite a lot of problems with both of them. They're new compression. They've been able to keep one running and the other has been sent back to the U.S. for repair of the rotor and the shaft and will be returned to the UK. We think that will not occur now until early November. And, yes, we have been impacted. We should see a – I'll use 30% to 50% increase in production at Tors just from adding compression. We have not been able to achieve that because of the difficulties that the third party host has had with their compression.

Gary NuschlerJefferies & Co.

And then you provided some production guidance for the third and fourth quarters which I very much appreciate. In terms of the North Sea production, how should we expect to see that progress over the back half of the year?

Leland Tate

I think we will be – it's Leland. I think we will be between 40 million a day and 50 million a day, to the upper end of that range in the third quarter and 50 million a day to 55 million a day in the fourth quarter as we're able to bring in the compression at Tors. So, those give you the quarterly numbers.

Gary NuschlerJefferies & Co.

And then last question, in your ops update, a couple weeks ago, you described, you said you might be drilling a third well at Wenlock and then said you might be looking at some prospects over in the Tors area. Can you give us a little color what you're doing there?

Leland Tate

 

BNET TalkbackShare your ideas and expertise on this topic

Please add your comment:

  1. You are currently: a Guest |
  2.  

Basic HTML tags that work in comments are: bold (<b></b>), italic (<i></i>), underline (<u></u>), and hyperlink (<a href></a)

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement