Apache Brings Two Australian Wells On Stream

Apache Corporation reports that its Gibson and South Plato fields in the Carnarvon Basin offshore Northwest Australia are now on production, flowing at a combined rate of 22,265 barrels of oil per day from two wells.

The fields were discovered last year. Both are owned by the Apache-operated Harriet Joint Venture, in which Apache owns a 68.5 percent working interest. Other interest owners are Kufpec, with 19.3 percent, and Tap Oil with 12.2 percent.

"These Flag Sandstone wells are notable for their high flow rates and their proximity to existing production infrastructure on Varanus Island. We can bring them on stream at a very low cost," said Apache President and CEO G. Steven Farris. He said the company has drilled 10 successful Flag wells -- Apache's "String of Pearls" -- in the last 18 months.