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