Apache Corp. (APA) said Thursday that the West Kalabsha I-1X well in Egypt’s Western Desert showed encouraging results when tested.
The well, located in the Faghur Basin exploration area, had a flow rate of 4,554 barrels of oil and 10.1 million cubic feet of natural gas a day. Apache is working to increase production in the area to 40,000 barrels a day in late 2010, up from 8,100 barrels a day.
The results highlight the importance of the Houston company’s international operations in its campaign to grow production 5 percent to 10 percent this year. The growth will be driven by discoveries in Egypt and Western Australia.
In 2009, Apache produced 290,000 barrels of oil a day and 1.8 billion cubic feet a day.
The independent oil and gas producer has said that it plans to spend $2 billion this year on exploration projects and acquisitions.
Apache owns a 100 percent contractor interest in the West Kalabsha concession.
