HOUSTON, Sept. 12 /PRNewswire-FirstCall/ -- Apache Corporation (NYSE,
Nasdaq: APA) announced today that it has signed a multi-year agreement with
EV Energy Partners, L.P. (Nasdaq: EVEP) and institutional partnerships
managed by EnerVest, Ltd., to explore for oil and gas in deeper formations
across 400,000 acres in Central and East Texas.
Apache agreed to explore for new reserves below the base of the Austin
Chalk formation and will be operator. EVEP and EnerVest will contribute the
acreage.
"This is an excellent opportunity for Apache to explore substantial
onshore U.S. acreage," said G. Steven Farris, Apache's president and chief
executive officer. "We have demonstrated that access to acreage can become
opportunities to increase production and reserves."
Apache Corporation is a large oil and gas independent with operations
in the United States, Canada, the United Kingdom North Sea, Egypt,
Australia and Argentina.
EVEP is a Houston-based publicly traded master limited partnership
engaged in acquiring, producing and developing oil and gas properties.
EnerVest, founded in 1992, acquires, develops and operates oil and gas
fields on behalf of institutional investors. EnerVest is also the general
partner of the general partner of EVEP.
This news release contains certain "forward-looking statements" within
the meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995 including, without limitation, expectations,
beliefs, plans and objectives regarding production and exploration
activities. Any matters that are not historical facts are forward-looking
and, accordingly, involve estimates, assumptions, risks and uncertainties,
including, without limitation, risks, uncertainties and other factors
discussed in our 2006 Form 10-K and on our Web site. 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. We
assume no duty to update these statements as of any future date.
APA-US
SOURCE Apache Corporation
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Related links:
http://www.apachecorp.com
CONTACT:
Bill Mintz, +1-713-296-7276, or Robert Dye,
+1-713-296-6662, or David Higgins, +1-713-296-6690, all of Apache
Corporation
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