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ATP Oil & Gas To Sell $691 Million In Assets

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By Keefe Borden, Hart Energy
May 9, 2013

ATP Oil & Gas Corp. (OTC: ATPAQ) plans to sell the majority of its assets to a group of secured lenders led by Credit Suisse Group AG (NYSE: CS) for $691 million in a transaction supervised by a Texas bankruptcy court.

Credit Suisse was the successful bidder for the assets, held in a federal bankruptcy hearing earlier this week. ATP filed for Chapter 11 bankruptcy in August. About $45 million of the price will be used to pay senior creditors.

Court papers show ATP has agreed to auction its assets, ...

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