Apache Barrels Out More Oil from UK North Sea's Forties Field
Apache confirmed that its Forties Charlie 6-3 well has commenced production at a rate of 10,500 barrels of oil per day. The well is the seventh development well brought on production at Forties in 2009; its initial production rate is the field's highest since 1994.
These new wells are contributing to the field's current strong production of more than 70,000 barrels per day.
"The Forties Charlie 6-3 confirmed Apache's analysis of 4-D (time-lapse) seismic and reservoir engineering data, which highlighted the potential for similar stranded oil accumulations in close proximity to the Charlie platform," said Rod Eichler, Apache's co-chief operating officer and president - International. "Three similar targets are among Apache's current inventory of 79 drilling targets at Forties."
An eighth well -- the Forties Alpha 2-5 -- recently logged 115 feet of high-quality pay in the Delta-Echo Channel and the Upper Main sands. The well is being completed and is expected to commence production around July 1.
Since acquiring Forties in 2003, Apache has invested over $1.2 billion towards infrastructure-related projects that have significantly improved the field's operating efficiency and process system reliability. At the time of the acquisition, Forties was producing about 40,000 barrels per day.
Apache owns a 97.14-percent interest in Forties, which is the largest single oil accumulation discovered and is currently the second-highest producing field in the United Kingdom sector of the North Sea.
Operates 3 Offshore Rigs
- Ancala Acquires Apache's Two North Sea Gas Pipeline Assets (Nov 20)
- Apache Raises North America Output Forecast, Swings To Profit (May 04)
- Oil Producer Apache Posts Smaller-Than-Expected Loss (Nov 03)