Apache Corp. (APA) Reports Successful Well in Egypt
Apache Corp. announced a successful well on its acreage under lease in the Faghur Basin in Western Egypt. The West Kalabsha I-1X well encountered 105 feet of net pay in the Safa formation. The well produced at a rate of 4,554 barrels of oil per day and 10.1 million cubic feet of natural gas per day during an initial test period. “This most recent discovery solidifies the Jurassic Safa as a primary objective in the basin. The well, on a structure identified by 3-D seismic, encountered pay in over 200 feet of total sand, demonstrating the potential size of Safa…