Apache Finds Oil in Offshore Block in Suriname
January 07 2020 - 7:51AM
Dow Jones News
By Micah Maidenberg
Apache Corp. (APA) said Tuesday it has found oil off the coast
of Suriname.
The Houston-based energy producer said it and its partner Total
SA (TOT) made a significant oil discovery in a well offshore from
the South American nation.
Last month, Apache released an update about drilling at the
well, called Maka Central-1, that contained relatively little
information about search efforts. That update sent shares in the
company lower.
Apache said Tuesday the well posted positive for both oil and
gas condensate.
Shares of Apache rose 13% in premarket trading.
The oil field in Suriname where Apache is looking for crude is
near a large oil asset that Exxon Mobil Corp. (XOM) is developing
in Guyana.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
January 07, 2020 07:36 ET (12:36 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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