UK: Apache confirms Storr discovery in North Sea

Oil and gas company Apache Corp. has achieved its ‘third consecutive exploration success’ near the Beryl field in the UK sector of the North Sea with a discovery in two separate fault blocks at the recently drilled Storr prospect.

Apache said in its 3Q 2016 report on Thursday that results were in line with pre-drill estimates and underscore the benefits of recent vintage 3-D seismic data and the long-term exploration potential in the Beryl area.

The Storr prospect was drilled with Awilco Drilling’s semi-submersible drilling rig WilPhoenix. The rig arrived at location in June this year after Apache and Awilco settled their disagreements related to the rig’s readiness to drill.

Further, Apache said that its North Sea production in the third quarter averaged 62,000 boe per day, down from the previous quarter due to maintenance and third-party facility down time.

In addition, Apache reported a smaller loss for the 3Q 2016 totaling $607 million. The company’s loss for 3Q 2015, on the other hand, was $4.14 billion. The company explained that the results in this year’s quarter included a number of items outside of core earnings that are typically excluded by the investment community in their published earnings estimates. When adjusted for these and certain additional items that impact the comparability of results, Apache’s third-quarter loss totaled $12 million.

Apache’s revenues for the quarter amounted to $1.4 billion versus $1.5 billion in the last year’s quarter.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

OWI WA 2019

West Africa’s only dedicated Offshore Well Intervention Conference is returning for its second year…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply