Apache Reports Continued Exploration Success in Faghur Basin in Egypt’s Western Desert

Friday, Aug 05, 2011

Apache Corporation (NYSE, Nasdaq: APA) today reported two new oil discoveries in its Faghur Basin play of Egypt’s Western Desert oil and gas province.

A test of the Jurassic Safa sand in the Faghur Deep-1X flowed at a rate of 6,671 barrels of oil and 2.76 million cubic feet (MMcf) of natural gas per day.

The Neilos-1X discovery on the Neith South development lease test-flowed at a rate of 4,179 barrels of oil and 4.2 MMcf of gas per day from the Jurassic Safa formation. The well also encountered two Alam El Bueib (AEB) Cretaceous pay sands that were not tested.

The latest discoveries were developed through evaluation of modern 3D seismic surveys acquired over the southwestern part of the Khalda Offset Concession and the southern part of the West Kalabsha Concession. In 2011, Apache has drilled and/or completed 11 exploration wells, resulting in nine new field discoveries in the Faghur Basin play. Drilling is continuing on two exploration wells, and seven additional exploration wells are slated to reach total depth in the area before the end of 2011.

“The Faghur Basin continues to be a successful focus area for Apache, with prolific oil and gas production from the AEB, Safa, and Paleozoic reservoirs that demonstrates the multiple-pay potential of this area of the Western Desert,” said Tom Voytovich, vice president of Apache’s Egypt Region.

Source: PR Newswire

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