Apache Makes Significant Oil Find



Apache Makes Significant Oil Find
Apache Corporation announced a 'significant' oil discovery offshore Suriname.

Apache Corporation announced Thursday a “significant” oil discovery at the Sapakara West-1 well, which was drilled offshore Suriname in Block 58.

Sapakara West-1 was drilled to a depth of approximately 20,700 feet and successfully tested for the presence of hydrocarbons in multiple stacked targets, Apache revealed. Preliminary fluid samples and test results indicate at least 259 feet of net oil and gas condensate pay in two intervals, Apache noted.

“Our second discovery offshore Suriname this year further proves our geologic model and confirms a large hydrocarbon system in two play types on Block 58,” Apache CEO and President John J. Christmann said in a company statement.

“Based on a conservative estimate of net pay across multiple fan systems, we have discovered another very substantial oil resource with the Sapakara West-1 well,” he added.

“Importantly, our data indicates that the Sapakara West-1 well encountered a distinct fan system that is separate from the Maka Central-1 discovery we announced in January this year,” Christmann continued.

Block 58 comprises 1.4 million acres and offers significant potential beyond the discoveries at Sapakara West and Maka Central, according to Apache, which said it has identified “at least” seven distinct play types and more than 50 prospects within the thermally mature play fairway.

Sapakara West-1 was drilled using the Noble Sam Croft, with Apache as operator holding a 50 percent working interest and Total holding the remaining 50 percent working interest.

After completing operations at the well, Sam Croft will move to the third prospect in Block 58, which is named Kwaskwasi, Apache outlined.

Apache is an oil and gas exploration and production company with operations in the U.S., Egypt and the United Kingdom. It also conducts exploration activities offshore Suriname.

Last month, the company announced multiple actions in response to the current oil price environment, including activity reductions in the Permian, Egypt and the North Sea.

To contact the author, email andreas.exarheas@rigzone.com



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Johnnyx234  |  April 11, 2020
Great news for Apache and the industry.
Jimbo  |  April 03, 2020
If it was anyone else I would believe it. Apache? No way. If their lips are moving..................
Robert Klein  |  April 03, 2020
Does anybody really care about this news? Apache is already in deep trouble to continue to explore in DEEP waters.