Apache Corporation Issues Operational Update on the Maka Central - 1 Well Offshore Suriname
December 02 2019 - 7:00AM
Apache Corporation (NYSE, Nasdaq: APA) today updated the status of
its first exploratory well in Block 58 offshore Suriname. Drilling
operations on the Maka Central - 1 well commenced in late September
with an expected drill time of 30 to 60 days.
Upon reaching a depth of approximately 6,200 meters, the company
elected to conduct various testing activities in two distinct Upper
Cretaceous play types. Following the completion of these tests, the
company will set casing, make equipment modifications to the rig,
and resume drilling in mid-December to evaluate a third play type
in the Cretaceous. The new target depth of the well is
approximately 6,900 meters. Following the drilling operations,
further testing and evaluation will be conducted as appropriate.
Additional information will be provided when the company is
prepared to characterize the results.
About Apache
Apache Corporation is an oil and gas exploration and production
company with operations in the United States, Egypt and the United
Kingdom. Apache posts announcements, operational updates, investor
information and copies of all press releases on its website,
www.apachecorp.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,” “estimates,” “expects,”
“guidance,” “outlook,” “projects,” “will,” and similar references
to future periods. These statements include, but are not limited
to, statements about future plans, expectations and objectives for
Apache’s 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 our 2018 Form 10-K
filed with the U.S. Securities and Exchange Commission (“SEC”) for
a discussion of risk factors that affect our business. Any
forward-looking statement made by us 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. We
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
ClarkMedia: (713) 296-7276
Phil WestWebsite: www.apachecorp.com
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