Apache makes gas discovery offshore Kenya; data analysis
underway to determine future activity
HOUSTON, Sept. 12, 2012 -- Apache Corporation (NYSE,
Nasdaq: APA) announced today that Mbawa 1 offshore
exploration well in Kenya encountered natural gas. The well
reached a total depth of 10,335 feet (3,150 meters).
The well encountered approximately 52 net meters (170 feet)
of natural gas pay in three zones. Although no oil was
encountered, the presence of hydrocarbons warrants further
evaluation. Over the next several months, Apache and its
partners in the Kenya L8 Joint Venture will analyze the
well data to determine future exploration activities.
Apache has 50 percent interest in the Mbawa 1 well and is
the operator. Others in the joint venture are Origin Energy
Ltd. (20 percent), Pancontinental Oil & Gas NL (15 percent)
and Tullow Kenya B.V. (15 percent).
Apache Corporation is an oil and gas exploration and
production company with operations in the United States,
Canada, Egypt, the United Kingdom North Sea, Australia and
Argentina. Apache posts announcements, operational updates,
investor information and copies of all press releases on
its website, www.apachecorp.com.
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,"
"estimates," "expects" and similar
references to future periods. These statements include, but
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expectations, and objectives for Apache's operations
including statements about exploration and drilling plans
in the Mbawa 1 offshore well in Kenya. While
forward-looking statements are based on assumptions and
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the circumstances, whether actual results and developments
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number of risks and uncertainties which could cause our
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