Apache Drills Duster Offshore Australia

Apache revealed that the Blackdragon #1 well offshore Australia was a dry hole. The well was drilled to a total depth of 2,438 meters.

Apache said the well was "a rank wildcat" that had been given a one-in-four chance of success at the outset. Early seismic testing showed the potential for a very large find in the play, which was in 4,606 feet of water. The well was drilled by Atwood Oceanics' semisub, Atwood Eagle.

Apache holds a 65% stake in the prospect and Kufpec holds the remaining 35%.