Apache's Granite Wash Hostetter well producing 17 MMcf, 800 b/d

HOUSTON – Apache Corp. (NYSE, Nasdaq: APA) has released results from its Hostetter #1-23H well in Oklahoma’s Granite Wash play in Washita County is producing 17 million cubic feet (MMcf) of gas and 800 barrels of liquid hydrocarbons per day.

The Hostetter #1-23H is Apache's first operated horizontal well in the play. The well was drilled to a depth of 12,500 feet with a 4,000-foot horizontal section and eight separate fracture-stimulation stages. Apache owns a 72% working interest in the well.

"Apache controls more than 200,000 acres across the play, primarily held by production," said Rob Johnston, Apache's Central Region vice president. "The Granite Wash stacked sandstones extend more than 100 miles across western Oklahoma and the Texas Panhandle.

By year-end, the company will operate four horizontal drilling rigs in the immediate area and plans to drill more than 20 horizontal Granite Wash wells in 2010.

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