Apache’s holdings in Australia are focused offshore Western Australia in the Carnarvon, Exmouth and Browse basins, with production operations in the Carnarvon and Exmouth basins. We have operated in the Carnarvon basin since acquiring the gas processing facilities on Varanus Island and adjacent producing properties in 1993. In total, we control approximately 7.9 million gross acres offshore Western Australia through 30 exploration permits, 18 production licenses, and 9 retention leases. Approximately 89 percent of our acreage is undeveloped, and the region continues to actively pursue additional acreage opportunities.
third-Quarter 2014 Update
- Third-quarter 2014 production averaged 55,578 Boe/d, up 12 percent from second quarter 2014 as a result of the successful commencement of production at Balnaves oil development.
- During the quarter, Apache operated two semi-submersible drilling rigs and drilled the second tri-lateral development well at Coniston and the oil discovery on Phoenix South 1 exploration well.
ACREAGE AND KEY PROJECTS
Balnaves (65 percent APA)
- The Armada Claire FPSO completed the final hook-up and commissioning activities and commenced oil production from the Balnaves field in August 2014.
- Current production at Balnaves is 18,300 Boe/d (as of October 2014).
Coniston Development and Ningaloo Vision Upgrade Project (52.5 percent APA)
- Development drilling on the Coniston oil development continued during third quarter with the completion of its second tri-lateral development well. Apache has now successfully drilled ten of the 17 well laterals.
- Scheduled maintenance and upgrade work for Coniston continued during the quarter on the Ningaloo Vision FPSO in the shipyard dry-dock.
- Offshore installation work required for the Coniston development was completed during the third quarter.
- Resumption of oil production from the Van Gogh field and first oil from Coniston is expected in the second quarter 2015.
In December 2014 Apache Corporation announced it has agreed to sell its 13-percent interest in the Wheatstone LNG Project along with accompanying upstream oil and gas reserves, including its 65-percent interest in the Julimar/Brunello offshore gas fields and the Balnaves oil development, to Woodside Petroleum Limited. The transaction, which has an effective date of June 30, 2014, is expected to close in the first quarter of 2015 and is subject to necessary government and regulatory approvals and customary post-closing adjustments.