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ATP Oil repays $17 million of asset-sale facility with stock proceeds
By Sara Rosenberg
New York, Aug. 7 - ATP Oil & Gas Corp. repaid $17 million of its asset-sale facility during the second quarter using proceeds from the issuance of 8.75 million shares of common stock, according to a news release.
During the first six months of the year, the company reduced outstanding debt by $58.7 million, including $36.4 million from the proceeds of asset sales, $17 million from the equity issuance and $5.3 million from scheduled principal payments.
ATP Oil & Gas is a Houston-based offshore oil and gas development and production company.
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