ATP Successor Says Contractor Bungled Well Operation

Law360, New York (January 6, 2014, 7:56 PM EST) -- Bennu Oil & Gas LLC, which acquired the bulk of Houston-based ATP Oil & Gas Corp.’s assets in Chapter 11, on Friday launched an adversary suit against a contractor it says botched a key underwater extraction operation that Bennu inherited, which is now costing it $100,000 per day to maintain.

In the suit filed in Texas bankruptcy court, Bennu claims that marine contractor Bluewater Industries LP, which was tasked by ATP with installing and connecting an “electro-hydraulic umbilical” line from an underwater oil and gas well...
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