Apache Completes First Horizontal Wells in Oil-Rich Hogshooter Segment of Granite Wash Play With Initial Production Rates Exceeding 2,000 Barrels Per Day
The Hogshooter wash is shallower, younger and more oil-prone than previous Granite Wash targets in western Oklahoma and the Texas
The Edler #1-5, located in Section 5 of Township 11N-20 W of
The Thetford #4-23, located in Section 23 of Township 11N-23W of
After almost two months on production, each of the wells is averaging approximately 700 barrels of oil and 3.5 MMcf of gas per day.
Apache currently is operating nine horizontal rigs in the Granite Wash play and plans to drill a third horizontal Hogshooter well by year-end. For 2011, the company currently plans to add a tenth horizontal rig and drill more than 40 horizontal Granite Wash wells — including 10 in the oil-rich Hogshooter. Over the past year, Apache has completed 19 Granite Wash horizontal wells with current aggregate net production of 2,600 barrels of oil and 40 MMcf of gas per day. Seven wells are awaiting completion.
This news release contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 including, without limitation, expectations, beliefs, plans and objectives regarding production and exploration activities. Any matters that are not historical facts are forward-looking and, accordingly, involve estimates, assumptions, risks and uncertainties, including, without limitation, risks, uncertainties and other factors discussed in our most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K available on our website, http://www.apachecorp.com/, and in our other public filings and press releases. There is no assurance that Apache's expectations will be realized, and actual results may differ materially
from those expressed in the forward-looking statements. We assume no duty to update these statements as of any future date. However, readers should review carefully reports and documents that Apache files periodically with the
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