Apache's North Sea well flows better than expected

Apache Corp.

Apache Corp. today announced that an extension well had initial production rates higher than any oil well drilled at the Beryl Field in the UK North Sea since 2001.

"We're very excited about this well because we've found virgin reservoir pressure in two of three zones containing more than 300 feet of net true vertical pay," said Jim House, regional vice president and managing director of Apache North Sea. "This is one of the best wells drilled in the past 10 years in the Beryl Field and we expect it to open up further development opportunities."

The B72 was drilled as a deviated well from the Beryl Bravo Platform and logged a total of 619 feet measured depth (305 feet TVD) of net oil pay in three separate Jurassic-aged reservoir units. The well was completed in the Beryl-I reservoir, which was found at original pressure of 5220 psi and commenced production at a rate of 11,625 barrels of oil per day (b/d) and 13.1 million cubic feet (MMcf) of natural gas per day.

Finding the Beryl-1 reservoir in a fault block at original field pressures within the Beryl field is an encouraging result that highlights the complexity and remaining potential of the field. A new 3D seismic survey is planned for summer 2012, the first since 1997.

Apache completed the acquisition of Mobil North Sea Ltd. from ExxonMobil at year-end 2011, which includes operating interests in Beryl, Nevis, Ness, Nevis South, Skene and Buckland fields.

Apache owns 50 percent of Beryl Field and is the operator. Other field owners are Hess Ltd. (22.22 percent), Enterprise Oil Ltd. (22.78 percent), and OMV (U.K.) Ltd. (5 percent).

About Apache Corp.

Apache Corp. is an oil and gas exploration and production company with operations in the US, Canada, Egypt, the United Kingdom North Sea, Australia and Argentina.

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