Apache Corporation Announces Significant Oil Discovery Offshore Suriname at Sapakara West-1
- Sapakara West-1 well provides further confirmation of geologic model with 79 meters (259 feet) of net oil and gas condensate pay.
- The third and fourth exploration well locations in Block 58 have been identified.
Sapakara West-1 was drilled to a depth of approximately 6,300 meters (20,700 feet), and successfully tested for the presence of hydrocarbons in multiple stacked targets in the upper Cretaceous-aged Campanian and Santonian intervals.
Preliminary fluid samples and test results indicate at least 79 meters (259 feet) of net oil and gas condensate pay in two intervals. The shallower Campanian interval contains 13 meters (43 feet) of net gas condensate and 30 meters (98 feet) of net oil pay, with API oil gravities between 35 and 40 degrees. The deeper Santonian interval contains 36 meters (118 feet) of net oil-bearing reservoir with API oil gravities between 40 and 45 degrees.
“Our second discovery offshore Suriname this year further proves our geologic model and confirms a large hydrocarbon system in two play types on Block 58. Based on a conservative estimate of net pay across multiple fan systems, we have discovered another very substantial oil resource with the Sapakara West-1 well,” said
Block 58 comprises 1.4 million acres and offers significant potential beyond the discoveries at Sapakara West and Maka Central. Apache has identified at least seven distinct play types and more than 50 prospects within the thermally mature play fairway.
Upon completion of operations at Sapakara West-1, the
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Cautionary note to investors
The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable, and possible reserves that meet the SEC's definitions for such terms. Apache may use certain terms in this release, such as "resources," "potential resources," "resource potential," "estimated net reserves," "recoverable reserves," and other similar terms that the SEC guidelines strictly prohibit Apache from including in filings with the SEC. Such terms do not take into account the certainty of resource recovery, which is contingent on exploration success, technical improvements in drilling access, commerciality and other factors, and are therefore not indicative of expected future resource recovery and should not be relied upon. Investors are urged to consider carefully the disclosure in Apache's Annual Report on Form 10-K for the fiscal year ended
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Source: Apache Corporation