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Apache Corporation News

18 Aug 2014

Apache First Discovery in Australia's Offshore Canning Basin

Apache Corporation  today announced an oil discovery at the Phoenix South-1 well - the company's first discovery in Australia's offshore Canning Basin. Wireline and formation pressure tools have confirmed at least four discrete oil columns ranging in thickness between 85 and 151 feet (26 to 46 meters) in the Triassic Lower Keraudren formation, within an overall, sand-rich section between 13,648 and 14,763 feet below sea level (4,160 to 4,500 meters). Six light oil samples have been recovered from three intervals to date; permeability measurements from the sampled zones indicate a productive oil reservoir with preliminary estimates that there might be as much as 300 million barrels of oil in place.* Evaluation of the formation penetrated in the Phoenix South-1 is under way…

19 May 2014

Documentary 'Window in the Waves'- Next Showing 5/21

'Window in the Waves', featuring Coral Reef in Gulf of Mexico will go on the air in May and June next. It is the story of the Flower Garden Banks, a documentary by Director of Photography Todd Richard of Synergy Productions in association with Louisiana Public Broadcasting. • Wednesday, May 21, 2014 at 8 p.m. • Sunday, June 1 at 12:30 p.m. • Sunday, June 8 at 9:30 p.m. • Tuesday, June 10 at 11:30 p.m. • Tuesday, June 24 at 11:30 p.m. Located 110 miles off the Louisiana/Texas coast, the corals of the Flower Garden Banks National Marine Sanctuary rank among the healthiest in the world. 'Window in the Waves' tells the intriguing story of how these reefs were formed and why they are crucial to the global environment.

10 Apr 2012

Offshore Drill Ship Secured for East African Field

Offshore East Africa Drilling: Image courtesy of Pancontinental

Pancontinental Oil & Gas announce that the Kenya L8 licence operator Apache Kenya Limited (Apache) has secured the use of the deepwater drilling ship Deepsea Metro 1 to drill the giant Mbawa Prospect. Apache is anticipating a spud date within Q3 2012, with the actual date depending on when the drilling rig is finished with its current operations. The well is expected to take some 45 to 60 days to complete to a planned total depth of 3,250m subsea in water depth of 860m, easily within the range of modern equipment.

12 Jul 2010

BP in Talks to Sell Stake in Alaska Oil Field

According to a July 11 report from companiesandmarkets.com, BP is in talks with Apache Corporation concerning the divestment of $12b of assets. The asset sale would include a large stake in Alaska's Prudhoe Bay, which is the largest oil field in North America. The divestment of assets would help BP to meet the costs of the damages from the oil spill cleanup operation. Prudhoe Bay produces 390,000 barrels a day. (Source: companiesandmarkets.com)

13 Jan 2010

Apache Reports Fire on GOM Platform

Apache Corporation (NYSE:APA) reported a fire aboard its East Cameron (EC) 2 processing platform, in La. state waters of the Gulf of Mexico about two miles off the coast of Cameron Parish. The three personnel on the platform, all Island Operating employees, evacuated the platform and were rescued. They were all transferred to the hospital where Frank Richard, 34, of Mowata, La., died. The other two employees are being assessed. Island Operating provides contract operating services for Apache and other companies in the Gulf. Apache has shut in the wells that flow to the processing facilities on the EC2 platform. All production operations have been secured, and the fire has been extinguished.

11 Aug 2009

Kitimat LNG, Apache MOU

Kitimat LNG Inc. announced that it has signed a memorandum of understanding (MOU) with Apache Corporation to supply natural gas to Kitimat LNG's proposed liquefied natural gas export terminal. The MOU sets a framework for Kitimat and Apache to negotiate a definitive agreement to supply 200 million to 300 million cubic feet (MMcf) of natural gas feedstock per day to the terminal, which has a planned capacity of 700 MMcf per day. Apache also obtained an option to purchase an equity stake in the Kitimat LNG terminal. As natural gas supply and reserves continue to increase in North America, Kitimat LNG's terminal will provide producers in Canada such as Apache with secure access to key worldwide markets.

03 Oct 2007

Teekay Offshore Raises Distribution; Completes FSO Acquisition

Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE: TOO) announced that its general partner has increased its quarterly cash distribution by $0.035 per unit, from $0.35 per unit to $0.385 per unit ($1.54 annualized) as a result of the previously announced acquisition of the shuttle tankers Navion Bergen and Navion Gothenburg. The cash distribution will be paid on November 14, 2007, to all unitholders of record on November 7, 2007. In addition, the Partnership announced that is has completed the acquisition of a Floating Storage and Offtake unit (FSO), the Dampier Spirit, for a total cost of approximately $30.3m from Teekay Corporation (Teekay), the parent of its general partner.