ATP recently reported its first quarter 2011 results. Revenues from oil and gas production were $166.5 million for the first quarter 2011, compared to $93.0 million for the first quarter 2010. Increased revenues from production were attributable to higher production volumes and higher oil prices. Oil and gas production for the first quarter 2011 was 2.3 MMBoe (26.0 MBoe/d) compared to 1.5 MMBoe (16.6 MBoe/d) for the first quarter 2010, a 56% increase. Average prices were up 29% over the same period a year ago. Oil represented 68% of total production for the first quarter 2011, compared to 58% of total production for the first quarter 2010.CEO and 10% Owner of ATP Oil & Gas Corp. (ATPG) T. Paul Bulmahn bought 65,000 shares on 06/15/2011 at an average price of $15.38. The total transaction amount was $999,700.
ATP Oil & Gas is engaged in the acquisition, development and production of natural gas and oil properties in the outer continental shelf of the Gulf of Mexico, in the shallow-deep waters of the Gulf of Mexico and in the Southern Gas Basin. Atp Oil & Gas Corp. has a market cap of $795.3 million; its shares were traded at around $15.47 with and P/S ratio of 1.7. Atp Oil & Gas Corp. had an annual average earnings growth of 12.9% over the past 10 years.
T. Paul Bulmahn founded ATP Oil and Gas in 1991 and is the company’s chairman and president. Additionally, he served as the company’s CEO since May 2008. Before founding ATP Oil and Gas, Mr. Bulmahn was the president of Harbert Oil and Gas Corp. He also worked as an administrative judge from 1973 to 1978, and as vice president of Plumb Oil Company.
Robert Bruce owns 79,000 shares as of 03/31/2011, which accounts for 0.79% of the $167 million portfolio of Bruce & Co., Inc.
Sell: Director Robert J. Karow sold 1,000 shares of ATPG stock on 03/30/2011 at the average price of $18.47. Robert J. Karow owns at least 22,434 shares after this. The price of the stock has decreased by 16.24% since.
Sell: Director Brent M. Longnecker sold 9,405 shares of ATPG stock on 02/17/2011 at the average price of $19.29. Brent M. Longnecker owns at least 80,000 shares after this. The price of the stock has decreased by 19.8% since.
Other insiders have also reduced their positions in the company.
ATPG is not a predictable business, and GuruFocus gives the company a predictability rating of 1 Star.
ATP Oil & Gas is engaged in the acquisition, development and production of natural gas and oil properties in the outer continental shelf of the Gulf of Mexico, in the shallow-deep waters of the Gulf of Mexico and in the Southern Gas Basin. Atp Oil & Gas Corp. has a market cap of $795.3 million; its shares were traded at around $15.47 with and P/S ratio of 1.7. Atp Oil & Gas Corp. had an annual average earnings growth of 12.9% over the past 10 years.
T. Paul Bulmahn founded ATP Oil and Gas in 1991 and is the company’s chairman and president. Additionally, he served as the company’s CEO since May 2008. Before founding ATP Oil and Gas, Mr. Bulmahn was the president of Harbert Oil and Gas Corp. He also worked as an administrative judge from 1973 to 1978, and as vice president of Plumb Oil Company.
Robert Bruce owns 79,000 shares as of 03/31/2011, which accounts for 0.79% of the $167 million portfolio of Bruce & Co., Inc.
Sell: Director Robert J. Karow sold 1,000 shares of ATPG stock on 03/30/2011 at the average price of $18.47. Robert J. Karow owns at least 22,434 shares after this. The price of the stock has decreased by 16.24% since.
Sell: Director Brent M. Longnecker sold 9,405 shares of ATPG stock on 02/17/2011 at the average price of $19.29. Brent M. Longnecker owns at least 80,000 shares after this. The price of the stock has decreased by 19.8% since.
Other insiders have also reduced their positions in the company.
ATPG is not a predictable business, and GuruFocus gives the company a predictability rating of 1 Star.
