Apache's Hostetter #1-23H Well in Oklahoma's Granite Wash Play
Producing 17 MMcf, 800 Barrels Per Day
HOUSTON, Oct 29, 2009
/PRNewswire-FirstCall via COMTEX News Network/ --
Apache Corporation (NYSE, Nasdaq: APA) today
announced that the Hostetter #1-23H well located in
Washita County, Okla., 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 prolific Granite Wash 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-percent 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.
"Apache has
drilled hundreds of vertical wells across the play, and horizontal drilling
technology has unlocked hundreds of additional opportunities on Apache's
acreage," he said. "The high liquid hydrocarbon content makes the
play especially attractive in the current environment of low natural gas
prices."
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.
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.
This news release
contains certain "forward-looking statements" within the meaning of
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995 including, without limitation, expectations, beliefs,
plans and objectives regarding production and exploration activities. Any matters
that are not historical facts are forward-looking and, accordingly, involve
estimates, assumptions, risks and uncertainties, including, without
limitation, risks, uncertainties and other factors discussed in our most
recently filed Annual Report on Form 10-K, on our Web site and in our other
public filings and press releases. 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. We assume no duty to
update these statements as of any future date.
Web site: www.apachecorp.com
APA-US
SOURCE Apache Corporation
http://www.apachecorp.com