Apache Progresses High Volume North Sea Wells

Apache Corporation has revealed that it is nearing first production from two new “high-volume” North Sea wells.

The company said it expects to bring its first well at Storr online in November and its second well at Garten online “around year-end”.

Apache produced 54,000 barrels of oil equivalent per day (boepd) from the North Sea in the third quarter, which the company said “reflects an anticipated decrease related to seasonal platform maintenance”.

Total production for Apache in 3Q stood at 451,000 boepd, with U.S. output during the period coming in at 266,000 boepd, the company revealed. Apache reported a loss of $170 million in 3Q.

Apache has interests in approximately 430,000 gross acres in the U.K. North Sea, according to its website. The region contributed 12 percent of Apache’s 2018 production and approximately 11 percent of year-end estimated proved reserves, Apache’s website states.

In March last year, Apache announced a “significant” new discovery at the Garten prospect. In December last year, the company revealed that it had initiated production from the Garten development.

Source: Rigzone