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Msg  13620 of 13753  at  7/29/2021 11:04:25 AM  by

The Red

 In response to msg 13618 by  krall
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Re: Suriname - APA release on the Sapakara South-1 development well


APA Corporation Announces Appraisal Drilling Success Offshore Suriname in Block 58 

Jul 29, 2021

HOUSTON, July 29, 2021 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today announced drilling success and updated the status of its appraisal program offshore Suriname in Block 58. As previously noted, the primary objective of the first phase of the appraisal drilling program is to deliver a fast-track, black oil development.

Sapakara South-1, an appraisal well located on the eastern edge of the Sapakara area, encountered approximately 30 meters (98 feet) of net black oil pay in a single zone of high-quality Campano-Maastrichtian reservoir. This result marks another important step toward a commercial oil development in the southeast portion of Block 58. The Maersk Valiant will soon mobilize to the next exploration prospect at Bonboni, approximately 45 kilometers to the north, before returning later in the year to flow test Sapakara South-1.

A second appraisal well encountered two thin intervals of black oil above water in the Campano-Maastrichtian at Kwaskwasi, impacting a small portion of the eastern edge of Kwaskwasi. The Campano-Maastrichtian intervals at Kwaskwasi and the Sapakara South-1 discovery are separate and unrelated.

APA Corporation President and CEO John J. Christmann IV commented, “We are very encouraged by the initial appraisal, having confirmed 30 meters of a single, blocky sand that is full to base with black oil. These are the characteristics necessary to accelerate development in this area of Block 58, which has high prospect density. We are excited to explore the northern portion of the block at Bonboni and look forward to continuing our appraisal program, including a flow test of Sapakara South-1 before year-end.”

APA Suriname holds a 50% working interest in Block 58, with TotalEnergies, the operator, holding a 50% working interest.

About APA

APA Corporation owns consolidated subsidiaries that explore for and produce oil and gas in the United States, Egypt and the United Kingdom and that explore for oil and gas offshore Suriname. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. Specific information concerning Suriname, ESG performance and other investor-related topics are posted at investor.apacorp.com.


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