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Petroleum industry

Apache Corporation Announces Preliminary Production Tests in Bohai Bay's Zhao Dong Block

Strategic Insights

— 1 min read

Apache Corporation, one of the nation's larger gas and oil independents, has announced the results of preliminary production tests in four intervals of its C-3 appraisal well on Bohai Bay's Zhao Dong Block in the People's Republic of China. The tests, which evaluated the commercial potential of the area, registered a combined daily rate of approximately 4,000 barrels of oil and 460 thousand cubic feet of associated gas. The company is the operator with a 50 percent working interest, while XCL holds the remaining 50 percent.

Key Takeaways:

  • The preliminary production tests in four intervals of the C-3 appraisal well yielded a combined daily rate of approximately 4,000 barrels of oil and 460 thousand cubic feet of associated gas.
  • The tests were conducted at intervals ranging from 3,714 feet to 4,659 feet in the Minghuazhen formation, with the two deeper tests flowing at a combined rate of approximately 2,400 barrels of oil per day.
  • The shallower intervals were tested on a pump at a combined rate of approximately 1,650 barrels per day, with one of the intervals perforated between 6,432 feet and 6,450 feet flowing for a brief period at a rate of approximately 1,350 barrels per day.
  • The oil from both formations had an API gravity ranging from 19 degrees to 24 degrees, indicating a suitable quality for commercial production.
  • Further evaluation is necessary to determine the area's commercial potential.
  • Apache Corporation is one of the nation's larger gas and oil independents, with its securities traded on the New York and Chicago stock exchanges under the ticker symbol APA.
  • The company is operator of the C-3 appraisal well with a 50 percent working interest, while XCL holds the remaining 50 percent.

Statistics:

  • Single-day oil production rate from the Minghuazhen formation: 2400 barrels
  • Single-day oil production rate from the shallower intervals: 1650 barrels
  • Total single-day oil production rate from the C-3 appraisal well: 4000 barrels
  • Single-day gas production rate from the C-3 appraisal well: 460 thousand cubic feet
  • API gravity of the oil from both formations: 19-24 degrees

Sources:

  • PRNewswire, "Apache Corporation announces preliminary production tests in Bohai Bay's Zhao Dong Block" (September 5, 1995)
  • Apache Corporation press release (September 5, 1995)

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