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NaveenS
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Product Manager - Derrick Petroleum Services. Working in Oil & Gas Industry for 5+ years. Contributed significantly for Database development for Upstream transactions (http://www.1derrick.com/ma-database). Initially worked as a 'Research Analyst' at Reuters. LinkedIn Profile:... More
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Derrick Petroleum Services
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1Derrick
  • Apache Cheers Gas, Condensate Discoveries In Egypt 0 comments
    May 7, 2014 5:28 AM | about stocks: APA

    Apache has revealed two hydrocarbon discoveries at its Herunefer-1X and BAT-1X well located in Egypt's Western Desert.

    Herunefer-1X discovery

    · Located in Khalda Offset Concession in Matruh Basin

    · Encountered pay in the Alamein, Alam El Buieb-6 (AEB), Masajid, Upper Safa and Lower Safa formations

    · Tested at a rate of 49 MMcf/d of gas and 7.7 Mbbl/d of condensate from the Lower Safa and Upper Safa intervals

    · Estimated drilling and well completion cost of $6 million

    BAT-1X discovery

    · Located in Khepri-Sethos Development Lease in Shushan Basin

    · Drilled to a total depth of 15,555 ft

    · Encountered pay in the Cretaceous Upper Bahariya, Lower Bahariya, Alamein, AEB-3C and AEB-3D formations

    · Tested at a rate of 31 MMcf/d of gas and 390 bbl/d of condensate from a thick Paleozoic Shiffah sandstone interval

    · Estimated drilling and well completion cost of $5.25 million

    Apache plans to drill several trend exploration wells in 2014 to evaluate and appraise the BAT discovery. Alternatives for delivering the production to market are under evaluation.

    In Jan-2014, Apache Corporation successfully flow-tested two discoveries in the North Tarek and Khalda Offset Concessions in Egypt.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: 1Derrick, Egypt Stocks: APA
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