Today the company announced the event that shareholders of ATP had been waiting on. Devon Shire has listed the key points from the agreement to monetize Titan. This should take away some of the risks associated with the capital concerns for the company.
One of the disappointing news from today’s announcement was the second well at Telemark will take another 3-4 weeks to start producing. The management has been disastrous in being optimistic on the launch date for the second well and then continuously missing the deadline. I don’t understand why management doesn’t get conservative for once and just give a very conservative timeline that the company has a strong chance of achieving.
4 responses to “ATPG: Monetization of Titan”
Hello, where did you get the info on the MC941 #3 well delay? Last update from the CFO at several conferences last week was that it’s still expected by the end of the month or first days of october.
Based on what has happened in the past, I don’t expect the company to announce they are in production until mid Oct. I could be wrong.
Check this out:
Thanks for the link. I wouldn’t be surprised by interests in ATP’s assets. Given the increased M&A in the energy space, discount due to GOM association, and emerging markets shopping spree, ATP will have investors interested in its assets. Although I don’t see any potential offer until the GOM regulation is clear.