Permian

Permian region

The Permian Region, located in West Texas and New Mexico, is one of Apache’s core growth areas with over 3.1 million gross acres with exposure to numerous plays focused primarily in the Midland Basin, the Central Basin Platform/Northwest Shelf and the Delaware Basin. Shale plays within this region include the Woodford, Barnett, Pennsylvanian, Cline, Wolfcamp, Bone Spring and Spraberry. Estimated proved reserves of 611 MMboe at year-end 2016, representing 47 percent of the Company’s worldwide reserves. In 2016, the Permian Region drilled or participated in 132 wells, 96 of which were horizontal, with a 96-percent success rate.

In September 2016, Apache announced that after more than two years of extensive geologic and geophysical work, methodical acreage accumulation, and strategic testing and delineation drilling, the company can confirm the discovery of a significant new resource play, "Alpine High." Apache's Alpine High acreage lies in the southern portion of the Delaware Basin, primarily in Reeves County, Texas. Read the release +

To learn more about Apache's operations in Reeve's County, Texas, click here.

Apache plans to significantly increase activity in the Permian Region during 2017, while continuing to balance capital investments between its larger development project at Alpine High and focused exploration and development programs on other core assets in its Permian region. During 2017, the company expects to average 15 drilling rigs in the Permian Basin and drill approximately 250 wells, which includes a four to six rig delineation drilling program at Alpine High. The company plans to allocate approximately two-thirds of its 2017 capital budget to the Permian region.

U.S. PERMIAN OPERATIONAL HIGHLIGHTS

  First-QUARTER
2017
First-QUARTER
2016
Oil production (Bpd) 75,210 93,278
Total liquids production (Bpd) 109,492 130,797
Natural gas production (Mcfd) 227,654 241,461
Barrels of oil equivalent per day 147,534 171,041

 

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