Houston-based Apache Corp. (NYSE: APA) is adding to its exploration success in the U.K. North Sea, having struck oil at its Garten prospect on Block 9/18a Area-W.
Recoverable resource from the discovery is expected to exceed 10 million barrels of light oil, which is at the high end of predrill estimates, Apache said in a news release March 23.
Targeting a downthrown structural closure, the Garten discovery well—located 6 km (3.7 miles) south of the Beryl Alpha Platform—hit more than 213 m (700 ft) of net oil pay in stacked, high quality Jurassic-aged sandstone reservoirs.
“The Garten discovery marks our fourth commercial discovery in the Beryl area in the past three years spanning several play types ranging from the Tertiary to the Triassic,” Apache CEO John J. Christmann IV said in a news release. “Apache’s strategy to focus on exploration near operated facilities is set to deliver significant production without the long cycle time of large scale projects.”
Apache said the well will be suspended as a future producer and tied back to the Beryl Alpha platform. The company is already working with the U.K. Oil and Gas Authority (OGA) to get approval to start production, which is expected in first-quarter 2019, according to the release.
“Apache has created new opportunities by consistently investing in high-quality 3-D seismic data to uncover near-field prospectivity around the prolific Beryl Field,” OGA CEO Andy Samuel said. “Modern data and the application of new technologies are key to stimulating exploration and successfully delivering the full potential of the UKCS.”
Apache has a 100% working interest in the Garten Block.
Recommended Reading
Report: Crescent Midstream Exploring $1.3B Sale
2024-04-23 - Sources say another company is considering $1.3B acquisition for Crescent Midstream’s facilities and pipelines focused on Louisiana and the Gulf of Mexico.
For Sale? Trans Mountain Pipeline Tentatively on the Market
2024-04-22 - Politics and tariffs may delay ownership transfer of the Trans Mountain Pipeline, which the Canadian government spent CA$34 billion to build.
Energy Transfer Announces Cash Distribution on Series I Units
2024-04-22 - Energy Transfer’s distribution will be payable May 15 to Series I unitholders of record by May 1.
Balticconnector Gas Pipeline Back in Operation After Damage
2024-04-22 - The Balticconnector subsea gas link between Estonia and Finland was severely damaged in October, hurting energy security and raising alarm bells in the wider region.
Wayangankar: Golden Era for US Natural Gas Storage – Version 2.0
2024-04-19 - While the current resurgence in gas storage is reminiscent of the 2000s —an era that saw ~400 Bcf of storage capacity additions — the market drivers providing the tailwinds today are drastically different from that cycle.