HOUSTON, April 9 /PRNewswire-FirstCall/ -- Apache Corporation (NYSE,
Nasdaq: APA) today reported that the Zaina-2 well in Egypt's Western Desert
tested 1,067 barrels of oil per day from 12 feet of oil pay in the Abu
Roash G-10 sand. The Zaina field is located in the company's East Bahariya
Concession, which Apache operates with a 100 percent contractor interest.
The field discovery well, Zaina-1, tested 1,165 barrels of oil per day
in July 2005 from 55 feet of oil pay in the Upper Bahariya sand. The Abu
Roash G-10 sand is a new producing zone in the field. The Abu Roash G-10
and G-20 sands, with 39 feet of indicated oil pay, are behind-pipe
recompletion targets for Zaina-1, which is currently producing 560 barrels
of oil per day.
Apache acquired a 50 percent contractor interest in the East Bahariya
Concession in 1997, and became operator with a 100 percent contractor
interest in 2001. Earlier that year, Apache and Repsol made the first
discovery on the concession, the Karama-1X. The concession has produced 21
million barrels of oil since Apache commenced operations, with current
volumes flowing at the rate of 18,500 barrels per day. The company plans to
drill 39 development wells there this year.
Apache Corporation is a large oil and gas independent with operations
in the United States, Canada, the UK North Sea, Egypt, Australia and
Argentina.
This 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 reserves,
future production, and drilling plans. Among the important factors that
could cause actual results to differ materially from those indicated by
such forward-looking statements are future exploration and development
results, availability of needed equipment and personnel, completion of
required infrastructure, and the political situation in the Middle East.
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-EG
SOURCE Apache Corporation
 back to top
Related links:
http://www.apachecorp.com
CONTACT:
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 for
Apache Corporation
|
