Apache's Hostetter #1-23H Well in Oklahoma's Granite Wash Play Producing 17 MMcf, 800 Barrels Per Day
HOUSTON, Oct 29, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- Apache Corporation (NYSE, Nasdaq: APA) today announced that the Hostetter #1-23H well located in Washita County, Okla., is producing 17 million cubic feet (MMcf) of gas and 800 barrels of liquid hydrocarbons per day.
The Hostetter #1-23H is Apache's first operated horizontal well in the prolific Granite Wash play. The well was drilled to a depth of 12,500 feet with a 4,000-foot horizontal section and eight separate fracture-stimulation stages. Apache owns a 72-percent working interest in the well.
"Apache controls more than 200,000 acres across the play, primarily held by production," said Rob Johnston, Apache's Central Region vice president. "The Granite Wash stacked sandstones extend more than 100 miles across western Oklahoma and the Texas Panhandle.
"Apache has drilled hundreds of vertical wells across the play, and horizontal drilling technology has unlocked hundreds of additional opportunities on Apache's acreage," he said. "The high liquid hydrocarbon content makes the play especially attractive in the current environment of low natural gas prices."
By year-end, the company will operate four horizontal drilling rigs in the immediate area and plans to drill more than 20 horizontal Granite Wash wells in 2010.
Apache Corporation is an oil and gas exploration and production company with operations in the United States, Canada, Egypt, the United Kingdom North Sea, Australia and Argentina.
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, on our Web site 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.
Web site: www.apachecorp.com
SOURCE Apache Corporation
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