Apache Oklahoma Gas Wells Test 5.3 and 3.4 MMcf/Day

Apr 05, 2007, 01:00 ET from Apache Corporation

    HOUSTON, April 5 /PRNewswire-FirstCall/ -- Apache Corporation (NYSE,
 Nasdaq:   APA) today reported that its Central Region recently completed two
 Oklahoma wells that tested at 5.3 million cubic feet (MMcf) and 3.4 MMcf of
 natural gas per day.
     The Apache West 8-14, in the Verden Field, located in Caddo County,
 Oklahoma, encountered 380 feet of gas pay and was completed from
 perforations in the Middle Wamsley member of the Springer formation between
 a measured depth of 16,391 feet and 16,521 feet. The well test-flowed 5.3
 MMcf of natural gas and five barrels of condensate per day on a 10/64-inch
 choke with 6,850 pounds per square inch of wellhead pressure, following
 another mid-January completion in the Lower Wamsley that yielded an initial
 rate of 4.4 MMcf per day.
     The Verden Field was discovered in 1976 and has produced a cumulative
 5.1 million barrels of oil and 593 billion cubic feet of natural gas. Since
 1993, Apache has drilled 88 wells in the fields, where current gross
 production averages 57.8 MMcf per day from Apache-operated wells.
     The West 8-14 is the eighth well drilled in this 640-acre unit, which
 the company operates with a 56 percent working interest. It is indicative
 of the downspacing opportunities afforded by reservoir compartmentalization
 in the Verden Field, where the company is currently running four drilling
 rigs. The Apache 9-14 well, in the same unit, is currently drilling toward
 Springer objectives below 17,000 feet.
     The Apache Switzer 2-32, in the Strong City Field of Roger Mills
 County, Oklahoma, discovered 81 feet of natural gas pay in the Lower Red
 Fork Formation. The well was perforated between a measured depth of 12,996
 feet and 13,036 feet. It tested at a rate of 3.4 MMcf of gas and 25 barrels
 of condensate per day from a 12/64-inch choke with 2,880 psi of wellhead
 pressure. Apache operates the well with a 93.75 percent working interest.
     Apache is one of the most active drillers in the Red Fork formation,
 having participated in the play since the late 1970s. The company
 participated in 65 Red Fork wells last year, 41 of them operated by Apache;
 11 of those wells that test-flowed in excess of 3 MMcf of gas per day.
 Apache is currently operating nine rigs in the Red Fork Trend.
     Apache has operated in the Anadarko Basin since the company's inception
 in 1954 and the region remains an important cornerstone of the company.
 Large acreage positions with running room and consistent, predictable
 growth are key attributes of this original core area after which Apache's
 worldwide portfolio has been modeled.
     Apache Corporation is a large oil and gas independent with operations
 in the United States, Canada, the UK North Sea, Egypt, Australia and
     This release contains certain "forward-looking statements" as defined
 by the Private Securities Litigation Reform Act of 1995, including, without
 limitation, expectations, beliefs, plans and objectives regarding reserves
 and future production. Among the important factors that could cause actual
 results to differ materially from those indicated by such forward-looking
 statements are future exploration and development results, availability of
 needed equipment and personnel and completion of required infrastructure.
 There is no assurance that Apache's expectations will be realized, and
 actual results may differ materially from those expressed in the
 forward-looking statements.

SOURCE Apache Corporation