HOUSTON--(Business Wire)--
ATP Oil & Gas Corporation (NASDAQ:ATPG) (the "Company") today announced that it
had priced its public offering of 8.75 million shares of its common stock at a
public offering price of $8.25 per share. The size of the common stock offering
was increased from the previously announced 7.25 million shares. ATP has granted
the underwriters a 30-day option to purchase up to 1.3125 million additional
shares of common stock to cover any over-allotments.
Closing of the offering is expected to occur on or about June 17, 2009, subject
to customary closing conditions. ATP intends to use the net proceeds from the
offering to support capital expenditures related to its drilling and development
activities, including development of wells at its Telemark Hub in the deepwater
Gulf of Mexico, to reduce indebtedness and for general corporate purposes.
J.P. Morgan Securities Inc. is acting as sole book-running manager for the
common stock offering. A copy of the preliminary prospectus supplement and
related base prospectus for the offering may be obtained on the Securities and
Exchange Commission ("SEC") website at http://www.sec.gov. Alternatively, the
underwriters will arrange to send you the preliminary prospectus supplement and
related base prospectus if you request them by contacting J.P. Morgan Securities
Inc. at 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, Attn: Chase
Distribution and Support Service, Northeast Statement Processing, or by
telephone to (718) 242-8002, or by or by fax at (718) 242-8003.
This Press Release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale of these securities would be unlawful
prior to registration or qualification under the securities laws of any such
state.
About ATP Oil & Gas Corporation
ATP Oil & Gas is an international offshore oil and gas development and
production company with operations in the Gulf of Mexico and the North Sea. The
company trades publicly as ATPG on the NASDAQ Global Select Market. For more
information about ATP Oil & Gas Corporation, visit www.atpog.com.
Forward-looking Statements
Certain statements included in this news release are "forward-looking
statements" under the Private Securities Litigation Reform Act of 1995. ATP
cautions that assumptions, expectations, projections, intentions, or beliefs
about future events may, and often do, vary from actual results and the
differences can be material. Some of the key factors which could cause actual
results to vary from those ATP expects include changes in natural gas and oil
prices, the timing of planned capital expenditures, availability of
acquisitions, uncertainties in estimating proved reserves and forecasting
production results, operational factors affecting the commencement or
maintenance of producing wells, the condition of the capital markets generally,
as well as ATP`s ability to access them, and uncertainties regarding
environmental regulations or litigation and other legal or regulatory
developments affecting our business. More information about the risks and
uncertainties relating to ATP`s forward-looking statements are found in the
Company`s SEC filings.
ATP Oil & Gas Corporation, Houston
Chairman and CEO
T. Paul Bulmahn, 713-622-3311
or
Chief Financial Officer
Albert L. Reese Jr., 713-622-3311
www.atpog.com
Copyright Business Wire 2009
