Apache Discovers Oil in Western Australia
August 17 2014 - 9:30PM
Dow Jones News
PERTH, Australia--U.S. energy company Apache Corp. (APA) said it
has discovered a new oil field offshore Western Australia state,
which may hold as much as 300 million barrels of crude.
The Phoenix South-1 well, drilled 180 kilometers north of Port
Hedland in 133 meters of water, is the company's first oil
discovery in Australia's offshore Canning Basin.
Apache is the operator of the WA-435-P block where the discovery
was made, and owns a 40% stake in the license and the adjacent
WA-437-P permit.
-Write to Stephen Bell at stephen.bell@wsj.com
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