Apache Makes Discovery on Ras El Hekma Concession

Apache Corporation announced the first commercial discovery on its Ras El Hekma Concession in Egypt's Western Desert. The Ras El Hekma 2X tested at a daily rate of 2,207 barrels of condensate and 12.4 million cubic feet (MMcf) of gas per day from the Lower Cretaceous Alem El Bueib 5 sandstone. "We've only drilled two wells on this concession, so it is nice to have a sizable discovery right out of the gate," said Rodney J. Eichler, Apache's regional vice president and general manager for Egypt. "We should have it on production by yearend. The far Western Desert is proving to be a bonanza for Apache; our nearby Khalda/Khalda Offset Concession is the company's most valuable property."

Eichler noted that the 2X is Apache's seventh successful exploratory well in Egypt this year.

The producer was tested on a one-inch choke with 940 pounds per square inch of flowing tubing pressure. Perforations were between 11,740 feet and 11,812 feet. The well was drilled to a total depth of 12,500 feet.

The Ras El Hekma feature is a prominent four-way dip closure along a major northeast-southwest trending structural ridge that includes last year's Tarek Northeast discovery, along with additional prospects. The 2X was developed from interpretation of 3-D seismic data acquired in 1999. At least two additional exploration wells are planned on the 99,000-acre concession during the next 12 months.