HOUSTON, Feb. 20 /PRNewswire-FirstCall/ -- Three new wells completed by
Apache Corporation (NYSE; Nasdaq: APA) in the Carnarvon Basin offshore
Western Australia are on production on behalf of the Apache-operated
Harriet Joint Venture.
The Doric-2 natural gas well located in Apache's Doric gas field in
Permit TL/1 is on production at the rate of 65 million cubic feet (MMcf) of
gas per day from the Flag sandstone.
The Lee-3 natural gas well, located in the TL/1 Permit area, is
producing at the rate of 50 MMcf per day, flowing from the North Rankin,
Brigadier and Mungaroo formations.
Both gas wells were completed in early January and flow through
Apache's Varanus Island hub. This gas production will replace volumes from
other Apache gas wells flowing into existing marketing contracts.
The West Cyad-2, located in Permit TL/9, was drilled as a sidetrack
from Apache's Victoria platform to produce a 32-foot oil column discovered
last fall more than 3.75 miles from the nearest infrastructure. Completed
in early February, the well is producing at the rate of 6,000 barrels of
oil per day from the Flag sandstone formation.
APACHE AUSTRALIA PRODUCERS - ADD 1
Apache operates all three wells through the Harriet Joint Venture with
a 68.5 percent working interest. Partners are Kufpec Australia Pty Ltd with
19.28 percent and Tap (Harriet) Pty Ltd, with 12.22 percent. The Varanus
Island hub is currently handling 18,500 barrels of oil and 310 MMcf of
natural gas production per day. Varanus Island is a major producing center
that Apache operates in Western Australia. The Varanus Island hub currently
processes approximately 40 percent of the gas produced and sold into the
Western Australia domestic markets.
Apache also is planning an additional Harriet Joint Venture oil well
with multiple horizontal laterals in the Bambra field, located in permit
TL/1. The extended-reach Bambra-7 well, which began producing natural gas
in late 2005, recently started producing oil after a
larger-than-anticipated gas cap was dissipated. The Bambra-7, which has
produced 17 Bcf of gas, currently is producing 10 MMcf of gas and 3,170
barrels of oil per day.
Apache has 31 wells planned for the Carnarvon Basin in 2007, ranking
the company the most active offshore operator in Australia. A significant
portion of this drilling targets the Harriet Joint Venture area.
Apache Corporation is a large oil and gas independent with operations
in the United States, Canada, the U.K. North Sea, Egypt, Australia and
Argentina.
This news release contains certain "forward-looking statements" as
defined by the Private Securities Litigation Reform Act of 1995 including,
without limitation, expectations, beliefs, plans and objectives regarding
Apache's production, exploration potential, and future drilling activities.
Any matters that are not historical facts are forward-looking and,
accordingly, involve estimates, assumptions and uncertainties. There is no
assurance that Apache's expectations will be realized, and actual results
may differ materially from those expressed in the forward-looking
statements.
APA-AU
SOURCE Apache Corporation
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media, Tony Lentini, +1-713-296-6227, or Bill
Mintz, +1-713-296-7276, or investors, Robert Dye,
+1-713-296-6662, or David Higgins, +1-713-296-6690, all of Apache
Corporation
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