Playbooks Supplements

Unconventional Yearbook 2018

Issue link:

Contents of this Issue


Page 11 of 107

10 | January 2018 | 2018 UNCONVENTIONAL YEARBOOK | KEY PLAYERS to numerous plays focused primarily in the Mid- land Basin, Central Basin Platform/Northwest Shelf and Delaware Basin, the company said on its website. In first-quarter 2017 Apache reported production results of 75,210 bbl/d of oil, 109,492 of total liquids, 227,654 Mcf/d of natural gas and 147,534 boe/d in the Permian, according to the company's website. In second-quarter 2017, North American pro- duction was 244,000 boe/d, and Apache averaged 18 rigs and drilled and completed 36 gross-oper- ated wells. Apache reported that "oil and gas capital investment was $738 million during the quarter, with two-thirds focused on the Permian Basin," according to the company's second-quarter 2017 results. Permian production averaged 146,000 boe/d, and Apache operated an average of 17 rigs during the second quarter, according to the com- pany's second-quarter 2017 results. In September 2016 Apache confirmed the dis- covery of a significant new resource play—Alpine High. Apache's Alpine High acreage lies in the southern portion of the Delaware Basin, primarily in Reeves County, Texas. The company estimated hydrocarbons in place on its acreage position are 75 Tcf of rich gas (more than 1,300 Btu) and 3 Bbbl of oil in the Barnett and Woodford formations alone, according to a company press release. Apache also expects significant oil potential in the shallower Pennsylvanian, Bone Springs and Wolfcamp for- mations. The company's 2017 plans included sig- nificantly increasing activity in the Permian region, while continuing to balance capital investments between its larger development project at Alpine High and focused exploration and development programs on other core assets in its Permian region, according to the company's website. During 2017 the company expected to average 15 drilling rigs in the Permian Basin and drill about 250 wells, which includes a four- to six-rig delineation drilling program at Alpine High. The company planned to allocate about two-thirds of its 2017 capital budget to the Permian region. Apache's Midcontinent/Gulf Coast region includes the Granite Wash, Tonkawa, Canyon Lime, Marmaton and Cleveland formations of the West Anadarko Basin; the Woodford-Scoop and Stack plays located in central Oklahoma; and the Eagle Ford Shale in southeast Texas. The region includes 2.6 million gross acres and more than 3,200 pro- ducing wells primarily in western Oklahoma, the Texas Panhandle and South Texas, the company stated on its website. In 2017 Apache planned to run a targeted program, drilling four wells in the Woodford-Scoop play. In first-quarter 2017 Apache reported produc- tion results of 11,142 bbl/d of oil, 24,327 bbl/d of total liquids, 123,501 Mcf/d of natural gas and 48,093 boe/d in the Midcontinent/Gulf Coast regions, according to the company's website. In second-quarter 2017 in the Midland Basin Apache averaged six rigs and focused primarily on multiwell pad drilling in the Wolfcamp and Spra- berry formations. During the quarter, the company brought online the nine-well Schrock 34 pad in Glasscock County with "very strong results," the company's second-quarter release stated. BP ■ Ranked No. 12 on the 2017 list of Fortune Global 500 companies ■ Brought online a Mancos Shale natural gas well BP is a global producer of oil and gas with opera- tions in more than 70 countries. Over the past 10 years BP has invested $90 billion in the U.S.—more than any other energy company, according to BP. BP's U.S. Lower 48 onshore operations span Col- orado, New Mexico, Oklahoma, Texas and Wyo- ming as well as seven oil and gas basins. BP's Lower These "grain bin" style tanks are used for recycling produced water in the Ketchum Mountain area in Texas. (Photo courtesy of Apache Corp.)

Articles in this issue

Links on this page

Archives of this issue

view archives of Playbooks Supplements - Unconventional Yearbook 2018