Apache Exceeding Expectation

US-firm Apache has ramped up production from two late-2014 discoveries in the Western Desert. “Delineation-drilling results at the recent Ptah and Berenice oil discoveries have exceeded expectations thus far with current production of approximately 20,000 b/d,” Apache said in its 7 May Q1 results. Not only is the firm well ahead of the previous target of raising output to 17,000 b/d by mid-2015 (MEES, 3 April) but it expects output to hit 22,000 b/d before the end of this month with the addition of an eighth development well, CEO John Christmann told the firm’s Q1 earnings call on 7 May. “Several other new field discoveries have been made across multiple concession areas subsequent to quarter-end. As a result, Egypt is tracking very well against our production outlook from February,” Mr Christmann adds. (CONTINUED - 374 WORDS)