Apache North Sea Limited

February 13, 2017
Apache North Sea Limited

Apache North Sea Region Acreage and Key ProjectsApache entered the North Sea in 2003 after acquiring an approximate 97 percent working interest in the Forties field. Since acquiring Forties, Apache has actively invested in the field and has established a large inventory of drilling prospects through successful exploration programs and the interpretation of acquired 3-D and 4-D seismic data. Building upon its success in Forties, in 2011 Apache acquired Mobil North Sea Limited, providing the regional position with additional exploration and development opportunities across numerous fields, including operated interests in the Beryl, Nevis, Nevis South, Skene, and Buckland fields and non-operated interests in the Maclure field. In total, Apache has interest in approximately 1 million gross acres in the U.K. North Sea. In 2014, the North Sea position contributed 11 percent of worldwide consolidated production and 6 percent of year-end estimated proved reserves.

third-Quarter 2015 UPDATE

  • Third quarter 2015 production averaged 73, 335 Boe/d, up 6 percent from the second quarter 2015 due to strong production results from recently drilled wells and recovery from planned maintenance production outages in the second quarter.
  • During the third quarter, the region operated an average of six drilling rigs and drilled four gross (four net) production wells with an 88 percent success rate.

  • In Forties, T271 achieved an average 30-day production rate of 3, 988 Bo/d and T283 achieved an average 30-day production rate of 2, 969 Bo/d.

  • The L4S well came online in July and achieved an average 30-day production rate of 2, 166 Bo/d and 45 MMcf/d.
  • In Beryl, the BLA well achieved an average 30-day production rate of 1, 669 Boe/d.
  • The K exploration prospect (55 percent Apache working interest) completed drilling in the third quarter. K is a significant oil discovery with multiple commercial zones across three distinct fault blocks, including one fault block with over 1500 feet of net pay.
  • Drill stem tested the Seagull prospect, a large discovery South of the Forties field at a rate of 11, 367 Boe/d through constrained facilities.
  • Source: www.apachecorp.com
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