logo
Share SHARE
FONT-SIZE Plus   Neg

ATP Oil & Gas Q4 Loss Narrows - Quick Facts

ATP Oil & Gas Corp. (ATPG) posted a fourth-quarter net loss attributable to common shareholders of $28.5 million or $0.56 per share compared to a net loss of $206.6 million or $4.06 per basic and diluted share in fourth quarter 2010.

For fourth quarter 2011, those items included an impairment expense of $11.9 million, a gain on exchange/disposal of properties of $26.0 million and unrealized losses of $41.6 million on derivatives contracts. For fourth quarter 2010, the items included an impairment of $48.2 million, an expense of $14.9 million related to direct costs associated with the moratorium on deepwater drilling in the Gulf of Mexico, an unrealized loss on derivatives contracts of $34.1 million and the establishment of a valuation reserve for ATP's deferred tax assets of $94.8 million.

Revenues were $177.7 million in fourth quarter 2011 compared to $141.7 million in fourth quarter 2010. Increased revenues were attributable to higher oil prices and a $3.1 million benefit for royalty relief related to 2010 production.

Production for first quarter 2012 is expected to fall within the range of 1.8 - 2.1 MMBoe.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Cable-cutters have now one more reason to do so as live television streaming will be available on YouTube TV in 14 more markets in the U.S. Facebook Chief Operating Officer Sheryl Sandberg has donated nearly $100 million in Facebook shares to charity. This is her second charitable donation within a year. A document was filed on Thursday with the Security and Exchange Commission, which shows that Sandberg transferred shares to a special fund she uses for charitable donations. Ford Motor Co.'s new CEO Jim Hackett has taken a more cautious approach to the automaker's plans for rolling out autonomous vehicles. Ford is currently undertaking a 100-day review of its operations and Hackett indicated at delays to the company's plans to launch a fully-autonomous vehicle by 2021.
comments powered by Disqus
Follow RTT