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Apache achieves first oil at North Sea Garten development

Published 12/04/2018, 05:57 PM
Updated 12/04/2018, 05:57 PM
© Reuters.  Apache achieves first oil at North Sea Garten development
  • Apache (NYSE:APA) says it has started production at its 100%-owned Garten development in the North Sea, as the discovery well was placed on production in late November, fewer than eight months after being drilled in March 2018.
  • APA says the well is currently producing at a rate of 13.7K bbl/day of oil and 15.7M cf/day of gas.
  • APA expects the recoverable resource to exceed 10M barrels of light oil plus associated natural gas.
  • "Garten is a unique technical achievement and represents Apache’s most complex smart well completion to date," the company says, adding that the project will be a "notable contributor" to APA's cashflow in 2019.
  • Now read: An Oil Bull's Survival Guide: Junk In The Hole, Or Gushers In Waiting?


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