Three in a Row as Apache Strikes Gas in Deepwater Offshore

Oil Daily, The, September, 2002

Three in a Row as Apache Strikes Gas in Deepwater Offshore Egypt

Houston-based independent Apache has kept up a 100% track record with its third straight successful deepwater exploration well offshore Egypt striking gas reserves tentatively estimated at around 500 billion cubic feet.

Chief Executive Steven Farris said the three discoveries have made Apache comfortable with its ability to operate in deep water and have put the company well on its way to its goal of finding at least 3 trillion cubic feet of gas in the deepwater part of the concession.

The El Max well, drilled in 3,100 feet of water, follows the Abu Sir and Al Bahig discoveries earlier this year with post- drill mean reserve estimates of 1 trillion cubic feet and 285 Bcf,...