Since entering the Canadian market in 1995, Apache Canada Ltd. has grown into one of the country’s top oil and gas producers.
Apache holds approximately seven million gross acres across the provinces of British Columbia, Alberta, and Saskatchewan. The region’s large acreage position provides portfolio diversification as well as significant drilling opportunity.
second-Quarter 2014 Update
- Second-quarter 2014 production in Canada, which includes Kitimat upstream production, was 76,692 Boe/d.
- Total production was down 13 percent from the first-quarter 2014 due to the closing of the previously announced sale of Ojay, Noel and Wapiti areas in Alberta and British Columbia on April 30, 2014 and third-party downtime of approximately 3,000 Boe/d. The production associated with the downtime is now online.
- These divestitures were primarily dry gas-producing properties comprising 622,600 gross acres (328,400 net acres). In the Wapiti area, Apache retained 100 percent of its working interest in horizons below the Cretaceous including rights to the liquids-rich Montney and other deeper horizons. During 2013, production from the fields divested averaged 101 MMcf/d of natural gas and 1,500 Bbls/d of liquid hydrocarbons.
- During the quarter, the region averaged one rig (excluding Kitimat), down from eight in the previous quarter due to the planned spring break-up season. Apache anticipates increasing the rig count to an average of seven rigs in the third quarter.
Acreage and Key Assets
KITIMAT Upstream (50 percent APA)
- During the second quarter, Kitimat Upstream gross production in the Horn River and Liard Basins averaged 140 MMcf/d (55 MMcf/d net to Apache’s interest), down 5 percent from first-quarter 2014 due mainly to natural field declines.
- During the quarter, two vertical tenure wells reached total depth, retaining 40,861 gross acres (18,480 net acres).
- Operations concluded on the 2013/2014 winter 3D seismic programs in early second quarter with 515-square-miles acquired.
Apache Canada Ltd. is proud to support the communities in which we work. Apache develops resources essential to economic growth and improved living standards. Along this path, we build enduring relationships with the communities in which we operate through our commitments to environmental stewardship, sustainable development, education and civic improvement.
Apache’s corporate giving program is region-based and employee-driven. In each of our communities, Apache employee committees determine which programs and projects will receive Apache funding.
The same sense of urgency, commitment and dedication that drives Apache’s operational progress is apparent in our employees’ participation in their communities through their involvement with their children’s education, participation in youth activities and support for local charities and community institutions.