APA Corporation Provides Update on Block 58 Appraisal and Exploration Activities
November 28 2022 - 8:00AM
APA Corporation (Nasdaq: APA) today provided an update on
exploration activities in Block 58 offshore Suriname. APA holds 50%
working interest, while TotalEnergies is the operator on the block
with a 50% working interest.
Drilling operations have concluded at the Awari exploration
prospect in the previously untested northwest portion of Block 58.
The well was deemed noncommercial.
At the Sapakara South-2 (SPS-2) appraisal well, the joint
venture will commence flow-test operations following drilling to
the targeted Maastrichtian-Campanian formation. Results are
expected to be available next month. SPS-2 is located approximately
4.6 kilometers south of Sapakara South-1.
About APA
APA Corporation owns consolidated subsidiaries that explore for
and produce oil and natural gas in the United States, Egypt and the
United Kingdom and that explore for oil and natural gas offshore
Suriname and in the Dominican Republic. APA posts announcements,
operational updates, investor information and press releases on its
website, www.apacorp.com. Additional details regarding Suriname,
ESG performance and other investor-related topics are posted at
investor.apacorp.com.
Forward-looking statements
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking
statements can be identified by words such as “anticipates,”
“intends,” “plans,” “seeks,” “believes,” “continues,” “could,”
“estimates,” “expects,” “goals,” “guidance,” “may,” “might,”
“outlook,” “possibly,” “potential,” “projects,” “prospects,”
“should,” “will,” “would,” and similar references to future
periods, but the absence of these words does not mean that a
statement is not forward-looking. These statements include, but are
not limited to, statements about future plans, expectations, and
objectives for operations, including statements about our capital
plans, drilling plans, production expectations, asset sales, and
monetizations. While forward-looking statements are based on
assumptions and analyses made by us that we believe to be
reasonable under the circumstances, whether actual results and
developments will meet our expectations and predictions depend on a
number of risks and uncertainties which could cause our actual
results, performance, and financial condition to differ materially
from our expectations. See “Risk Factors” in APA’s Form 10-K for
the year ended December 31, 2021, and in our quarterly reports on
Form 10-Q, filed with the Securities and Exchange Commission for a
discussion of risk factors that affect our business. Any
forward-looking statement made in this news release speaks only as
of the date on which it is made. Factors or events that could cause
our actual results to differ may emerge from time to time, and it
is not possible for us to predict all of them. APA and its
subsidiaries undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future development or otherwise, except as may be required by
law.
Contacts
Investor: |
(281)
302-2286 |
Gary
Clark |
Media: |
(713) 296-7276 |
Alexandra Franceschi |
Website: |
www.apacorp.com |
|
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