ATP Oil & Gas Corp. has posted record production and a doubling of sales but a net loss for the year and final quarter of 2006, in a busy year of acquisition and development where reserves were replaced threefold.

Fourth-quarter net loss was $37 million, while the year’s lossses were $27 million lower than in 2005 to $39.3 million, or $1.33 per share.

Company statements Friday said reserves expanded 107 percent in the Gulf of Mexico and 869 percent in the North Sea. Total production by year-end had risen 155 percent to 50.9 billion cubic feet of equivalents.

ATP managers plan more field-building in 2007 at the company’s Gulf of Mexico Gomez and Tors field centres, as well as “major infrastructure development” at the Telemark Hub. In the North Sea, the official approval is expected for Cheviot field plans in the Dutch North Sea. Cheviot engineering will give way to procurement by mid-2007.

Not included in the reserves count buy impacting performance was the buying of Aconcagua and Anduin in the deepwater Gulf of Mexico in January 2007.