Apache's Recent Gas And Condensate Discoveries Highlight Prolific Opportunities In Egypt's Western Desert
- The Herunefer-1X discovery, located in the
Matruh Basin in the eastern portion of Khalda Offset Concession, encountered pay in the Alamein, Alam El Buieb-6 (AEB), Masajid, Upper Safa and Lower Safa formations. Tests from the Lower Safa and Upper Safa intervals flowed at a combined rate of 49 million cubic feet (MMcf) of gas and 7,700 barrels of condensate per day. The estimated cost to drill and complete the well was$6 million . - The BAT-1X discovery, located in the northern
Shushan Basin in the Khepri-Sethos Development Lease, tested at a rate of 31 MMcf of gas and 390 barrels of condensate per day from a thick Paleozoic Shiffah sandstone interval. The well, which was drilled to a total depth of 15,555 feet, also encountered pay in the Cretaceous Upper Bahariya, Lower Bahariya, Alamein, AEB-3C and AEB-3D formations. The estimated cost to drill and complete the well was$5.25 million .
Both discoveries were drilled by
"Herunefer-1X is the first of a series of exploration wells planned for the
Apache plans to construct a new, 7.5-mile (14 km) pipeline that will connect to the existing transportation grid at the Jade area manifold. From Jade, the production can be delivered to either the Salam or Tarek gas plants.
"BAT-1X is a potentially large discovery and the latest in Apache's pursuit of stratigraphic traps and Paleozoic subcrop plays," Maher said. "Our understanding of this play concept has evolved since the 2007 Hydra Field discovery. We now recognize that these traps and subcrop plays were key geologic elements in more than 20 previous Western Desert field discoveries."
Apache plans to drill several trend exploration wells in 2014 to evaluate and appraise the BAT discovery. Alternatives for delivering the production to market are under evaluation.
Additional production facilities were installed at the Hydra Field during the first quarter. The field is currently producing 180 MMcf of gas and 8,600 barrels of condensate per day from six wells. One additional well was recently completed and is being connected to production facilities.
About Apache
Forward-looking statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," and similar references to future periods. These statements include, but are not limited to, statements about future plans, expectations, and objectives for Apache's operations, including statements about drilling plans and production expectations in
APA-E
Logo - http://photos.prnewswire.com/prnh/20140116/DA47435LOGO
SOURCE
News Provided by Acquire Media