Apache's Second Well Brings Production At North Sea Bacchus Field To 12,900 BBLS/day

Aug 02, 2012, 08:05 ET from Apache Corporation

HOUSTON, Aug. 2, 2012 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA) said today that a second successful horizontal well has increased production at the Bacchus Field in the United Kingdom sector of the North Sea to 12,900 barrels of oil per day.

The latest horizontal well, Bacchus West, penetrated Jurassic-aged Fulmar reservoir sandstones and logged 889 feet (measured depth) of net pay in three sections. The well currently is producing approximately 8,500 barrels of oil per day.

The first well on the field, Bacchus South, commenced production in May at approximately 6,000 barrels per day; it currently is producing approximately 4,400 barrels per day. Apache has a 50-percent working interest in Bacchus, which is a subsea tie-back to Apache's Forties Alpha platform.

"Increased output in the North Sea stemming from our drilling successes at Bacchus and the Beryl Field are expected to make a significant contribution to Apache's second-half 2012 production growth," said Rodney J. Eichler, president and chief operating officer.

Following completion operations at Bacchus, the Rowan Gorilla VII jack-up drilling rig is scheduled to move to appraise Apache's Aviat shallow gas discovery.

About Apache

Apache Corporation is an oil and gas exploration and production company with operations in the United States, Canada, Egypt, the United Kingdom North Sea, Australia and Argentina. Apache posts announcements, operational updates, investor information and copies of all press releases on its website, www.apachecorp.com.

Forward-looking statements

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SOURCE Apache Corporation