US Operator reveal highest production in last two years
Apache, the US oil company has confirmed their quarterly production figure in 1Q19 as their best in the UK North Sea in two years.
Apache’s first quarter results revealed 66,000 barrels of oil equivalent per day from the basin in the first quarter, 21% more than in the same period in 2018.
The company put this down to a full quarter of output from Garten, a new development well at Callater, a revamped waterflood program in the Forties field and enhanced uptime on its facilities.
Garten, 100% owned by Apache, is tied back to the Beryl Alpha platform and produced first oil November 2018.
Callater, also in the Beryl area, came on stream in May 2017.
Chief executive John Christmann said: “2019 is progressing very well. Overall production was strong in the first quarter, and we are demonstrating excellent capital discipline and cost control.
“The North Sea and Egypt continue to deliver robust free cash flow with their leverage to premium Brent crude prices and higher natural gas and NGL netbacks.
“In the Permian, we are poised to deliver attractive oil growth and a substantial cash flow uplift at Alpine High in the second half of the year.
“We will also be advancing our differential exploration initiatives, most notably in Suriname.
Published: 02-05-2019
