Apache Make New Discovery

Apache Corporation has announced a 5,103 barrel-per-day oil discovery, the Selkit-1X, on its 2.3-million-acre greater Khalda Concession in Egypt's Western Desert. The company said it tested the top 31 feet of a 64-foot oil column which represents the thickest, best developed Kharita sands yet encountered this far west of its Qarun Concession, located approximately 255 miles away. The Selkit is Apache's eighth discovery worldwide this year. "We have encountered Kharita pay at Khalda, but never of this quality," said Steve Farris, Apache's president and chief operating officer. "This is an entirely new play on the concession, and we're excited about the possibility that it may extend beneath our Renpet field, located four miles west of the discovery." He said two wells in that field will test Kharita sands in coming months; existing Renpet wells have only tested shallower Bahariya pay. The Selkit discovery was tested on a one-inch choke with 278 pounds per square inch of flowing wellhead pressure. The flow rate was constrained by pipeline limitations. The crude oil has a specific gravity of 40.3 degrees API. The test evaluated the Lower Kharita formation between 9,523 feet and 9,554 feet. The well was drilled to a total depth of 10,370 feet. Based on the results of this initial test, 25 feet of Upper Kharita pay, as well as Upper and Lower Bahariya potential, will be tested from additional wellbores. The company plans to delineate the new field with additional wells in coming months. Apache owns a 100 percent contractor interest in the concession. "We set a record turnaround time on the Selkit discovery of two months from acquisition of 3-D seismic data to development of a completely new prospect," Farris said. He said the well already has been connected to Apache's nearby Khepri-Sethos production facilities. Apache also reported that it continues to await perforation and testing of its deepwater Abu Sir-1X (Blue prospect) in the offshore portion of its Egyptian West Mediterranean Concession.

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