ATP Oil & Gas announces $100 million perpetual preferred

By Paul A. Harris

St. Louis, March 8 - ATP Oil & Gas Corp. announced in a Wednesday press release that it plans to raise $100 million or more with a private placement of non-convertible, perpetual preferred stock.

Proceeds will be used to expand the company's scope in certain projects, to accelerate its development activities and for general corporate purposes.

No further information about the offering was disclosed in the press release, and the company did not return a telephone call from Prospect News.

ATP is a Houston-based energy company focused on development and production of natural gas and oil in the Gulf of Mexico and the North Sea.

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