Apache makes gas discovery offshore Kenya; data analysis underway to determine future activity

Source: Apache Corporation

Apache Corporation (NYSE, Nasdaq: APA) announced today that Mbawa 1 offshore exploration well in Kenya encountered natural gas. The well reached a total depth of 10,335 feet (3,150 meters).

The well encountered approximately 52 net meters (170 feet) of natural gas pay in three zones. Although no oil was encountered, the presence of hydrocarbons warrants further evaluation. Over the next several months, Apache and its partners in the Kenya L8 Joint Venture will analyze the well data to determine future exploration activities.

Apache has 50 percent interest in the Mbawa 1 well and is the operator. Others in the joint venture are Origin Energy Ltd. (20 percent), Pancontinental Oil & Gas NL (15 percent) and Tullow Kenya B.V. (15 percent).

Apache Corporation is an oil and gas exploration and production company with operations in the United States, Canada, Egypt, the United Kingdom North Sea, Australia and Argentina. Apache posts announcements, operational updates, investor information and copies of all press releases on its website, www.apachecorp.com.


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