Apache Drills Productive Well In UK's Beryl Field
May 16 2012 - 10:21AM
Dow Jones News
Apache Corp. (APA) said Wednesday that it completed a highly
productive oil well at a mature U.K. offshore operation, opening up
opportunities for further development of what is known as the Beryl
Field.
The well is "one of the best wells drilled in the past 10 years"
in the Beryl field, and it produced at a rate of 11,625 barrels of
oil per day and 13.1 million cubic feet of natural gas per day,
Apache said.
The field was acquired in 2011 by Apache from Exxon Mobil Corp.
(XOM). Houston-based Apache has historically focused on bringing
new life to declining reservoirs that were originally discovered
and exploited by major oil companies such as Exxon and BP PLC (BP,
BP.LN). The recent Gusher at Beryl will "open up further
development opportunities," said Jim House, managing director of
Apache North Sea, in a statement.
Apache said it plans a new three-dimensional seismic survey this
summer, the first since 1997. The company owns 50% of the field,
and operates it. Partners include Hess Corp. (HES), Enterprise
Oilfield Group Ltd. (E.T) and OMV AG's (OMV.VI) OMV (U.K.) Ltd.
unit.
-By Angel Gonzalez, Dow Jones Newswires;
713-547-9214;angel.gonzalez@dowjones.com
Order free Annual Report for Apace Media Plc
Visit http://djnewswires.ar.wilink.com/?link=APA or call
1-888-301-0513
Order free Annual Report for BP plc
Visit http://djnewswires.ar.wilink.com/?link=BP or call
1-888-301-0513
Order free Annual Report for Hess Corp.
Visit http://djnewswires.ar.wilink.com/?link=HES or call
1-888-301-0513
Order free Annual Report for OMV AG
Visit http://djnewswires.ar.wilink.com/?link=OMVKY or call
1-888-301-0513
Order free Annual Report for Exxon Mobil Corporation
Visit http://djnewswires.ar.wilink.com/?link=XOM or call
1-888-301-0513