Apache Corp Makes Gas Discovery in Egypt

01-28-2008

Apache Corp., the U.S. oil and natural-gas producer that made more than a dozen acquisitions this decade, reported gas discoveries in Egypt and Australia.

A test well in Egypt's Western Desert flowed 41.6 million cubic feet of gas and 1,313 barrels of condensate per day, expanding the known geologic trend in the area by an additional 9 miles from a previous discovery in 2006, Houston-based Apache said in a statement.

The discovery off the coast of Australia on the Northwest Shelf encountered 113 feet of net pay, Apache said. Apache has a 65 percent stake in that block as part of a joint venture with Kufpec Australia Pty.