Apache oil find opens new play off Western Australia

摘要

Sydney—US independent Apache made a discovery at its first well in the Canning Basin off northwestern Australia, marking the opening up of a new oil province, and prompting one of its partners to hail the find as among “the most significant developments in Australian oil and gas in recent times.” Preliminary estimates from the Phoenix South-1 well indicate the new field might hold as much as 300 million barrels of oil in place, Apache said in a statement Monday. “Although evaluation is at an early stage, Phoenix South-1 is an exciting result,” said Thomas Voytovich, Apache’s executive vice president. “The oil and reservoir quality we have seen point to a commercial discovery. If these results are borne out by further appraisal drilling, Phoenix South may represent a new oil province for Australia.”