Apache Update on Kwaskwasi-1 Discovery Well
Apache Corporation (Nasdaq: APA) and Total S.A. (NYSE: TOT) provided an update to the technical evaluation of the Kwaskwasi-1 discovery well offshore Suriname.
As previously announced, Kwaskwasi-1 discovered hydrocarbons in multiple stacked targets in the upper Cretaceous-aged Campanian and Santonian intervals. The well encountered 278 meters (912 feet) of net oil and volatile oil/gas condensate pay. The shallower Campanian interval contains 63 meters (207 feet) of net oil pay and 86 meters (282 feet) of net volatile oil/gas condensate pay. The Santonian interval contains 129 meters (423 feet) of net pay. Fluid samples from the Campanian validated the presence of oil with API gravities between 34 and 43 degrees.
Since the discovery announcement on July 29, 2020, the Noble Sam Croft drillship has gathered reservoir and other technical data in the Santonian. 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. Hydrocarbon shows were observed in the Santonian reservoirs, and the results of the formation evaluation indicate the presence of oil.
The Noble Sam Croft has commenced operations at the Keskesi East-1 exploration well approximately 14 kilometers (9 miles) southeast of Sapakara West-1. The Keskesi well will test upper Cretaceous targets in the Campanian and Santonian.
Apache holds a 50% working interest in Block 58 and will continue to be the operator through the completion of the Keskesi well. Total S.A. holds the remaining 50% working interest.
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