$Colombia and Latin America - Apache Corporation Announces Major Oil Discovery in Block 58 Offshore Suriname at Kwaskwasi-1 - $Colombia and Latin America - InvestorVillage
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Msg  12586 of 12625  at  7/30/2020 8:58:29 PM  by

The Red


 In response to msg 12584 by  kenlevine
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Re: Apache Corporation Announces Major Oil Discovery in Block 58 Offshore Suriname at Kwaskwasi-1

 
 
Finally, a discovery where the net pay is measured in healthy hundreds of metres and not precious feet.  278 metres of net oil and gas pay.  Apache and Total shared the average grade of oil: 32 to 34 degrees API.
 
 The news release definitely passes the Public_Heel test of news significance with a "We are thrilled" snuck into the press release.   Man, if I was the CEO and President of Apache, I would write:  We are just ecstatic!  More than pleased!  
 
The results are fabulous.   
 
C&Ped:  
 
“We are thrilled with the results from the Kwaskwasi-1 exploration well. This is the best well we’ve drilled in the basin to date, with the highest net pay in the best quality reservoirs,” said John J. Christmann, Apache CEO and President. “While we have a lot more work to do, a discovery of this quality and magnitude merits a pace of evaluation that enables the option of accelerated first production.”
 
The positive spillover onto CGX and Frontera shares will happen even if the geological arguments are weak.
 
Now for the cold shower.  Guyana is in a bit of political turmoil these days.  To put it mildly.    Election results have not been recognized and parliament has closed down since March.  There is an ethnic dimension to this conflict.   The Guyana risk premium is going up.  
 
In any event, CGX and Frontera should delay drilling offshore Guyana until well into 2021 at the earliest.  That might give Guyana time to come to some new political equilibrium be it democratic or authoritarian. 
 
 


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Msg # Subject Author Recs Date Posted
12588 Re: Apache Corporation Announces Major Oil Discovery in Block 58 Offshore Suriname at Kwaskwasi-1 kenlevine 0 7/31/2020 4:22:57 PM






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