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Never Settling for Less: ATP Oil and Gas

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June 06, 2011 – Comments (0) | RELATED TICKERS: ATPAQ

ATP Oil and Gas has been working hard to major expansion projects. This has been a struggle since the beginning. Like every major expansion there are many elements the consider and work through. ATP has been trying hard to make these plans a reality but have hit some bumps in the road. George Fisher tells us about ATP’s plans and how they are trying to make them happen.

 

"…For the first quarter, the company should be operating cash flow positive, but still negative when factoring in its capital expenditure budgets. Reported earnings per share will be a loss. These are already priced into its current $16.00 share price.

However, the company is working on drilling and completing two new Gulf wells which have been permitted through the new, updated rules. Funding for these projects is in place. With the added production over the next six months, the company should generate sufficient additional cash flow to offset quarterly non-cash charges of depletion, depreciation and amortization, leading to positive reported earnings…" 

 

Read the entire article here:  http://seekingalpha.com/article/268418-atp-oil-and-gas-the-passionate-tug-of-war-continues

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