This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Apache Continues To Infuse New Life Into UK's North Sea

HOUSTON, Sept. 5, 2012 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA) announced today that it continues to add new life into UK's North Sea, as the Beryl Bravo B73y development well tests at 8,161 barrels of oil per day (bo/d) and 5.9 million cubic feet of gas per day (MMcf/d).

Apache also reached a major milestone toward the installation of a satellite production platform that will help extend the life of the Forties Field by nearly two decades.

The B73y well tested a Nansen reservoir containing 71 feet of net oil pay and began producing at the end of August. The well also encountered 245 feet of net pay in three additional zones that will be produced at a later date. Apache has a 50 percent interest in the B73y well, which is a follow up to the previously disclosed B72 well that tested in excess of 11,600 bo/d  and 13 MMcf/d in May 2012. Similarly, the B72 encountered additional pay behind pipe that will be produced at a later date.

"Our early drilling results at the Beryl field have been excellent," said G. Steven Farris, Apache chairman and chief executive officer, "and we continue to move forward in assimilating the Mobil North Sea assets acquired at the end of 2011."

In addition, 3-D seismic surveys of the Beryl Field began in early August and when completed in mid-October will further refine Apache's future drilling plans there.

The added volumes from the B73y well will mitigate scheduled downtime of other assets in the North Sea from July to September.  

Apache also announced today that the jacket for the Forties Alpha Satellite Platform (FASP) has arrived at the Forties Field in the North Sea to become a bridged-linked processing facility and drilling platform. The fully commissioned topside and 90 meter bridge link are scheduled to be delivered during the second quarter of 2013.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs