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Gulf of Mexico operator ATP Oil & Gas files for bankruptcy

Fri Aug 17, 2012 5:47pm EDT

Aug 17 (Reuters) - Gulf of Mexico producer ATP Oil & Gas Corp filed for Chapter 11 bankruptcy protection in a Texas court on Friday, reporting total debts of $3.49 billion and assets of $3.64 billion.

The Houston-based company said in the filing that it had been severely affected by the deepwater drilling moratorium which followed the 2010 Deepwater Horizon disaster.

"ATP has taken this action in order to undertake a comprehensive financial restructuring," the company said in a statement.
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