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HOUSTON, TEXAS: ATP Oil & Gas Corp. (NASDAQ:ATPG) will officially name its new floating deepwater drilling and production facility the ATP Titan during a formal ceremony on Aug. 26 at the Gulf Marine Fabricators yard near Aransas Pass, Texas.

"When installed on site, this will be the first deepwater U.S.-built multi-column, deep draft, floating drilling and production platform in the Gulf of Mexico," commented ATP Chairman and CEO T. Paul Bulmahn.

The ATP Titan is 726 feet (221 m) from its base to the top of the derrick. The facility allows for installation in water depths of 1,500 to 9,500 feet (457 to 2,895 m).

ATP TItan will initially have a design production capacity of 25 million b/d of oil and 50 MMscf/d of natural gas to service ATP's Telemark Hub in the U.S. Gulf of Mexico. It also features enough deck space for third party growth.

ATP Titan has an expected life of 40 years, and ATP plans to reuse and redeploy it multiple times during its life span.