Apache Permian play also includes huge gas field

Fuel Fix:
The Houston-based oil exploration company Apache has made a significant discovery in West Texas’s Permian Basin, estimated at 75 trillion cubic feet of natural gas and more than 3 billion barrels of oil — nearly the equivalent of an entire year of U.S. crude production, the company announced on Wednesday.

The new field sits in the southern portion of the Delaware Basin, the Permian’s western and southern half. It is primarily in Reeves County, south of New Mexico, near the Davis Mountains. Apache is calling the field the “Alpine High.”
...
Apache also said its oil estimates are for the deep Barnett and Woodford formations alone. It expects there is also “significant” oil potential in the shallower Pennsylvanian, Bone Springs and Wolfcamp formations.

The company has drilled 19 wells and identified 2,000 to 3,000 future drilling locations in the Woodford and Barnett alone, expected to deliver a combination of rich gas and oil worth $4 million to $20 million per well at $3 per million cubic feet in gas and $50 per barrel of oil.

It expects well development for a 4,100 foot lateral to cost $4 million to $6 million
...
With that kind of production and activity, that area of Texas will no longer be confused with a moon landing site.   Actually, it is one of the more attractive desert areas of the Southwest.  It is somewhat remote and the Interstate speed limit out there is 80 MPH.

Apache has been an active drilling company for decades and it appears to have weathered the ups and downs better than some.

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more

Bin Laden's concern about Zarqawi's remains

James Robbins: ... Bin Laden suggests that President Bush should allow Zarqawi’s body to be returned to his family in Jordan, but this is a matter that is up to the Jordanian government, which so far has not shown much interest in facilitating a homecoming. Bin Laden mocks King Abdullah II, calling him a Coalition minion, and asking “w hat scares you about Abu Musab after he’s dead? You know that his funeral, if allowed to happen, would be a huge funeral showing the extent of sympathy with the mujahedin.” A large crowd would definitely turn out, though most people would be on hand to demonstrate their anger and disgust. Last November’s hotel bombings in Amman , masterminded by Zarqawi, are still fresh in people’s memory, and mentioning them to Jordanians has the same visceral impact as memory of the 9/11 attacks does here. Jordan has adopted a zero-tolerance policy towards those who choose to mourn the country’s least favorite son, and four opposition members of parliament who paid con
Read more