Apache Corp. said Sept. 14 it has collected reservoir and other technical data on the Kwaskwasi-1 discovery well in Block 58 offshore Suriname as it starts operations on another exploration well.
Hydrocarbon shows were observed in the Santonian reservoirs at Kwaskwasi-1. Results of the formation evaluation indicate the presence of oil, according to news release.
“The company was able to successfully retrieve rotary sidewall cores but was unable to collect representative fluid samples from the reservoir due to conditions caused by cementing operations, which were required to mitigate increased pressure below the base of the Santonian formation,” Apache said in the release.
Apache announced in July that it struck oil at Kwaskwasi-1, hitting hydrocarbons in multiple stacked targets in the upper Cretaceous-aged Campanian and Santonian intervals.
Drilled to a depth of about 6,645 m (21,800 ft) by the Noble Sam Croft drillship, the well hit 278 m (912 ft) of net oil and volatile oil/gas condensate pay in two intervals, Apache said in a news release. The deeper Santonian interval contained 129 m (423 ft) of net hydrocarbon reservoir, while the shallower Campanian interval had 63 m (207 ft) of net oil pay and 86 m (282 ft) of net volatile oil/gas condensate pay, according to preliminary results.
“Fluid samples from the Campanian validated the presence of oil with API gravities between 34 and 43 degrees,” Apache said.
The drillship is now working about 9 miles southeast of the Sapakara West-1 discovery, where the Keskesi East-1 exploration well will test upper Cretaceous targets in the Campanian and Santonian.
Apache, which holds a 50% working interest in the block, said it will serve as operator until the Keskesi well is completed. Total S.A. holds the remaining 50% working interest.
That was the lowest close for Brent crude since June 12 and for WTI since Oct. 2. It was the biggest daily percentage losses for both benchmarks since Sept. 8.
Power generation demand, LNG exports and reduced production will combine to push prices higher than the market anticipates.
U.S. natural gas futures climbed to their highest in nearly two years on Oct. 26 on forecasts for higher heating demand and concerns that Tropical Storm Zeta could disrupt production.