Houston-based Apache Corp. (NYSE: APA) has reported a seven million cubic feet per day (MMcf/d) tight gas discovery in Argentina’s Neuquén Basin, according to a report by UPI.
The company reported that the well was drilled to a total vertical depth of 12,800 feet with a horizontal section that stretched 2,800 feet.
Apache has been active in the Neuquén Basin since 2008. Since entering the play, the company has drilled more than 70 wells in the region.
Argentina is quickly becoming an area of interest for unconventional operators. The play boasted a production total of 75 MMcf of natural gas during the month of April 2011
Read more about Argentina’s Neuquén Basin.
BP and partners have sanctioned the Azeri Central East (ACE) project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oilfield complex in the Azerbaijan sector of the Caspian Sea.
Exxon Mobil Corp. and offshore Guyana partners continue their success with their 13th discovery on the Stabroek Block and fifth discovery in the Turbot area.
The rig count fell for the past four months and production growth in the Permian Basin and other key shale basins have slowed as oil prices fell and many independent shale companies cut spending.