APA Corp. says data from the Sapakara South-2 appraisal well flow test and subsequent pressure build-up indicate incremental connected resources of over 200 MMbbl of oil in place offshore Suriname.
SPS-2 found approximately 36 meters (118 feet) of net oil pay in high-quality Campano-Maastrichtian reservoir, APA announced Feb. 8 in a press release.
“Results from the SPS-2 drilling and flow tests are consistent with our pre-drill expectations, confirm our geologic, geophysical and reservoir models, and, importantly, add substantial resources towards a potential development,” APA CEO and president John J. Christmann IV said in the release.
The SPS-2 is the second appraisal well to test the previously announced discovery offshore in Block 58. The well is located approximately 4.6 kilometers (3 miles) south of the Sapakara South-1 (SPS-1) appraisal well.
APA Corp. Says Awari Well Non-Commercial Offshore Suriname
Houston-based APA holds a 50% working interest in Block 58 while French oil giant TotalEnergies SE, the operator, holds the other 50% working interest.
APA and TotalEnergies are looking to replicate the drilling and at least some of the development success an ExxonMobil-led consortium in Guyana—which includes Hess Corp. and CNOOC–have had in the adjacent Stabroek Block.
The markets continue to await word from the companies regarding a final investment decision (FID) on Block 58, which could be that block’s first development.
APA and TotalEnergies didn’t immediately respond to email requests from Hart Energy for details regarding the FID.
Suriname to See $23 Billion Deepwater Boom While Venezuela Struggles
Two Rigs to Running Soon on Block 58
APA and TotalEnergies have the ongoing rig activity on Block 58 focused on drilling two appraisal wells at the Krabdagu discovery, located approximately 17 kilometers (11 miles) east of Sapakara.
The Krabdagu-2 is currently drilling and APA anticipates Krabdagu-3 will spud in February with a second drilling rig, the company said in the release.
NGP Backs Permian Mineral, Royalty Firm with $100MM Investment
2023-04-24 - NGP is financially backing Wing Resources on a seventh partnership aimed at acquiring oil and gas minerals and royalties in the Permian Basin.
E&P Highlights: March 13, 2023
2023-03-13 - Here’s a roundup of the latest E&P headlines including first gas offshore Egypt and FEED updates in the upstream oil and gas industry.
Matador Declares $0.15 Per Share Quarterly Cash Dividend
2023-04-20 - Matador Resources’ quarterly cash dividend of $0.15 per share will be payable on June 1 to shareholders on record as of May 11.
Quantum-backed FireBird II Raises Over $500MM for Permian Deals
2023-04-22 - After FireBird Energy LLC sold to Diamondback for $1.75 billion last year, FireBird II was formed to pursue more deals in the Permian Basin.
Capstone Secures Follow-on Order for Microturbines
2023-03-23 - Horizon Power Systems commissioned two microturbines from Capstone Green Energy to power a remote natural gas compression facility in Wyoming’s Green River Basin.