ATP Oil and Gas

ATP Oil & Gas Corporation

Company type	Public
Industry	Oil and natural gas exploration and production
Founded	1991
Founder	T. Paul Bulmahn
Defunct	2012
Fate	Filed for Chapter 11 bankruptcy protection
Headquarters	Houston, Texas , United States
Area served	Gulf of Mexico, North Sea (UK and Netherlands)
Key people	T. Paul Bulmahn (Founder, CEO, Chairman), Leland E. Tate (President), George R. Morris (COO)
Products	Oil, natural gas

ATP Oil & Gas Corporation was a company headquartered in Houston, Texas, dedicated to the exploration and production of oil and natural gas resources primarily located in the Gulf of Mexico and the North Sea. Its core expertise lay in developing proven but yet-to-be-exploited reserves (PUDs).

History

Established in 1991 by T. Paul Bulmahn, ATP Oil & Gas concentrated on offshore assets containing undeveloped reserves, achieving a development success rate of 97%. This performance was further enhanced through improvements in seismic imaging technologies.

On August 18, 2012, ATP Oil & Gas sought protection under Chapter 11 bankruptcy proceedings.

Global operations

The company possessed leasehold interests spanning 50 offshore blocks within the Gulf of Mexico, alongside 12 blocks in the North Sea—comprising 11 under UK jurisdiction and one governed by the Netherlands.

Technological advancements and achievements

ATP pioneered subsea engineering by installing a well at a depth of 5,610 feet connected through a 35-mile pipeline and a direct hydraulic umbilical—the longest system of its kind worldwide at the time. This accomplishment disproved prior assumptions limiting direct hydraulic umbilicals to lengths between five and ten miles. For this breakthrough, ATP received Hart's Oil and Gas World’s Best Field Improvement Project award in 1999.

Additionally, ATP set a record for the Longest Subsea Oil Tieback at its Ladybug wells located in Garden Banks Block 409 in the Gulf of Mexico. The project involved laying approximately 34 miles of 6-inch diameter pipe in waters over 4,000 feet deep to link with the Garden Banks 189 “A” platform.

By integrating networking technologies and internet communications, ATP operated 17 unmanned platforms, substantially lowering operational expenses. This innovation earned them the Inc./Cisco Growing with Technology Award in 2000.

Record-setting Volvo overseas delivery purchase

In 2006, ATP placed what became Volvo’s largest single overseas delivery order outside of fleet sales. The initiative provided each employee with a new Volvo vehicle along with an all-expenses-paid trip to Sweden. This reward was contingent upon achieving specific corporate objectives.

These goals included initiating production at the deepwater Mississippi Canyon Block 711 field (Gomez), nearly tripling daily natural gas production to over 100 million cubic feet, attaining a reserve replacement rate of 1,367%—well above the targeted 200%—and successfully completing six projects in the Gulf of Mexico alongside three projects in the North Sea. Notably, Chairman and President Paul Bulmahn opted out of receiving this bonus.

Headquarters, leadership, and key executives

ATP’s main office was situated in Houston, Texas, with additional locations in Guildford, Surrey (UK), and IJmuiden (Netherlands). Founder T. Paul Bulmahn owned roughly 24% of the company’s shares. On May 21, 2008, Leland E. Tate was elevated from COO to President while George R. Morris assumed the COO role. Bulmahn continued serving as CEO and chairman of the board.