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ATP Oil & Gas, Blue Ocean Technologies Set Multiple New Industry Records in Subsea Well Intervention

Blue Ocean Technologies' Interchangeable Riserless Intervention System (IRIS) successfully completed numerous riserless wireline runs, deploying a variety of intervention tools, including a wireline tractor, gauges, milling tools, perforating guns, and a logging tool multiple times, each run of which represents a new industry record for riserless intervention. This is the first time that wireline has been successfully run in open water at 2950' (900m) depth.

The final riserless intervention operation was the deployment of perforating guns to enable the commingling of the 3750 ms B & C Sands in Mississippi Canyon 711 well #4ST1. After commingling the two reservoirs located between 11,400 ft MD and 11,900 ft MD, production from this well has increased to 9.0 MMcf/d & 4900 Bo/d with a flowing tubing pressure in excess of 3100 psi. MC 711 well #4ST1 is part of the Gomez Hub and is located in 2950 ft of water depth in the Gulf of Mexico.

This campaign was successfully completed using the dynamically positioned HOS Iron Horse as the work platform for Blue Ocean Technologies' IRIS.

Blue Ocean Technologies LLC is a riserless subsea well intervention company. Blue Ocean Technologies' Interchangeable Riserless Intervention System (IRIS) enables subsea well intervention using wireline (slick line and e-line) and coil tubing without a riser, thus significantly reducing the cost of deepwater intervention to the operator. For more information about Blue Ocean Technologies LLC, visit www.blueoceansubsea.com.

ATP Oil & Gas is focused on development and production of oil and natural gas 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.

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Blue Ocean Technologies LLC
Neil Crawford, 281-419 4777
info@blueoceansubsea.com