APA Corporation Provides an Activity Update for Suriname Block 53
APA Corporation (Nasdaq: APA) announced results from its drilling operations on Suriname Block 53. The operator, APA Suriname, holds a 45% interest in the block. The Rasper well, completed in the Campanian and Santonian intervals, encountered water-bearing reservoirs, and further evaluation is ongoing. The Noble Gerry de Souza drillship will proceed to the Baja prospect, targeting Maastrichtian and Campanian formations, located near the recently discovered Block 58. The company explores for oil and gas in multiple regions, including the U.S. and Suriname.
- Ongoing development in Suriname Block 53 demonstrates the company's commitment to exploration.
- The mobilization of the drillship to the Baja prospect indicates active expansion efforts.
- The Rasper well only encountered water-bearing reservoirs, which may indicate lower potential yield.
HOUSTON, June 13, 2022 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today provided results from recent drilling operations on Suriname Block 53. APA Suriname, the operator, holds a
APA has completed operations on the Rasper well in the northwestern area of the block. The well encountered water bearing reservoirs in the Campanian and Santonian intervals, evaluation of the open hole well logs, and formation and reservoir fluid samples is ongoing.
The Noble Gerry de Souza drillship will be mobilizing to the next exploration prospect, Baja, in the southwestern corner of Block 53. Baja lies approximately 11 kilometers northeast of the recently announced Block 58 discovery at Krabdagu and will test Maastrichtian and Campanian targets.
About APA
APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. Additional details regarding Suriname, ESG performance and other investor-related topics are posted at investor.apacorp.com.
Forward-looking statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “continues,” “could,” “estimates,” “expects,” “guidance,” “may,” “might,” “outlook,” “possibly,” “potential,” “projects,” “prospects,” “should,” “will,” “would,” and similar references to future periods, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations, and objectives for operations, including statements about our capital plans, drilling plans, production expectations, asset sales, and monetizations. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See “Risk Factors” in APA’s Form 10-K for the year ended December 31, 2021, and in our quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission for a discussion of risk factors that affect our business. Any forward-looking statement made in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. APA and its subsidiaries undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law.
Contacts
| Investor: | (281) 302-2286 | Gary Clark |
| Media: | (713) 296-7276 | Alexandra Franceschi |
| Website: | www.apacorp.com |
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FAQ
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