Apache Corp. - 500 Beiträge pro Seite

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Homepage: http://www.apachecorp.com/

NYSE-Kürzel: APA
WKN: 857 530

Apache Corporation explores for and produces oil and natural gas in the United States, Canada, Australia, Egypt, Poland and China.

In the United States, Apache’s strength is exploitation and development in mature basins, including the Anadarko Basin of Oklahoma, the Permian Basin of West Texas and New Mexico, the San Juan Basin of New Mexico, the Texas and Louisiana Gulf Coast and the Outer Continental Shelf in the Gulf of Mexico. Apache has a proven record of adding value by increasing production and reserves in properties acquired from others.

Internationally, Apache is an exploration company. Apache has established a core area in the prolific Western Sedimentary and Willesden Basins of Canada. Operations in Egypt and Australia are significant contributors to the company`s reserves and production. Apache is planning additional exploration and development of its concessions in Poland and the People`s Republic of China.

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Apache`s Qasr-6 Tests 28.8 MMcf Gas
Apache - Tuesday, September 07, 2004

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Apache announced two new wells in its prolific Qasr field on Egypt`s Khalda Concession. The Qasr-6 appraisal well test-flowed 28.8 million cubic feet (MMcf) of natural gas and 1,037 barrels of condensate per day from two zones in the Jurassic-age Lower Safa formation, while the Qasr-9 development well -- flowing at 4,826 barrels of oil and 0.75 MMcf of gas per day -- registered the strongest test to date from Cretaceous-age Alam El Bueib (AEB) sands at Qasr.

The Qasr-6 well encountered a 250-foot gross sand column with 234 feet of net pay. The well extends to the west the known limits of the reservoir and has a similar gas/water contact seen in previous Qasr wells. Qasr-6 is located approximately 1.8 miles northwest of the Qasr-5 well and 4.3 miles west of the Qasr-1X discovery.

Qasr-6 was tested on a one-inch choke with 1,685 pounds per square inch (psi) of flowing wellhead pressure. Seventy feet of perforations were in two zones between 13,490 feet and 13,540 feet and between 13,570 feet and 13,590 feet.

"Qasr-6 further confirms our modeling of the field as the largest onshore gas discovery in Apache`s 50-year history," said G. Steven Farris, Apache`s chief executive officer and president. "By far, the most productive horizon at Qasr is in the Jurassic age, but Qasr-9 confirms the productivity of the Cretaceous AEB sands, which we have logged in a number of the Qasr Jurassic wells we have drilled."

Qasr-9, located approximately 3.6 miles southeast of Qasr-6, was tested on a two-inch choke with 280 psi of flowing wellhead pressure. The well logged 61 feet of net pay in the AEB 3E sand, with excellent sandstone quality and pressures. It was perforated between 11,310 feet and 11,353 feet.

Apache operates the Khalda Concession with a 100 percent contractor interest.

Apache recently signed a 25-year, 300-MMcf-per-day Gas Sales Agreement with the Egyptian General Petroleum Corporation for Qasr production. The company now estimates Qasr`s ultimate recoverable gas reserves to be in excess of 2 trillion cubic feet, with condensate recoveries in the range of 40 million to 50 million barrels. Qasr-9 is expected to be on production this month; Qasr-6 will come on stream as soon as additional infrastructure is added to accommodate the Gas Sales Agreement.

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Apache Corp. (Börse New York) - Fünfjahreschart

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Apache Raises Common Stock Dividend 33 Percent

Apache 9/16/2004

Apache`s Board of Directors has voted to increase the quarterly cash dividend on its common stock 33 percent, to 8 cents per share from 6 cents per share, effective with the November dividend payment.

The board also declared the regular cash dividend on Apache`s Series B Cumulative Preferred Stock.

"Because we believe our shareholders should share in the financial benefits of rising oil and gas production at a time of strong commodity prices, Apache`s Board of Directors has approved increasing dividend payments for the fourth consecutive year," said Raymond Plank, Apache`s chairman and founder. "After adjusting for splits and stock dividends, the quarterly cash dividend has doubled since 2001."

The common stock dividend is payable on Nov. 22, 2004, to shareholders of record on Oct. 22, 2004.

The dividend on the Series B preferred stock is payable on Nov. 1, 2004, to holders of record on Oct. 15, 2004. The payment will be $14.20 per share, which is equivalent to $1.42 per depositary share, each representing 1/10th of a share of Series B preferred stock. The Series B preferred is not listed on an exchange.

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Apache Closes Deal with ExxonMobil

Apache 10/5/2004
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Apache has closed on a series of previously announced agreements with ExxonMobil affiliates designed to optimize both companies` oil and gas exploration and development programs in the United States and Canada.

The agreements provide for transfers and joint ventures/partnerships across a broad range of prospective and mature properties in the Permian Basin of West Texas and New Mexico, Western Canada, onshore Louisiana and the Gulf of Mexico Continental Shelf. Apache`s participation includes cash payments of approximately $347 million.

In the Western Canadian Province of Alberta, Apache has signed a farm-in agreement covering ExxonMobil Canada Energy`s interest in more than 380,000 gross acres of undeveloped properties in mature areas. Apache will drill at least 250 wells (operating the majority) over an initial two-year period with opportunity for further drilling.

In West Texas and New Mexico, the companies have formed a partnership under which Apache will participate in 23 mature producing oil and gas fields with production net to Apache of approximately 9,150 barrels of oil equivalent per day. ExxonMobil retains an interest in the production and a 50 percent working interest in all exploration acreage in depths below the currently producing intervals.

Onshore Louisiana and on Gulf of Mexico shelf acreage, Apache and ExxonMobil will jointly explore for deep gas on approximately 800,000 gross acres of Apache properties for an initial period of five years, with provisions for extension. Apache will continue to operate the shallower prospects, while ExxonMobil will operate the deeper prospects.

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Apache Closes Acquisition of Anadarko GoM Properties
Apache 10/26/2004

Apache has closed on the previously announced acquisition of Gulf of Mexico Shelf properties from Anadarko Petroleum for $525.4 million in cash, plus assumed liabilities, after adjustments for the exercise of preferential rights by third parties. The effective date of the transaction is October 1.

The acquisition includes 74 fields on 232 offshore blocks (approximately 664,000 net acres), including 89 undeveloped blocks, and 104 platforms. Apache will operate 49 of the fields with 70 percent of the production and 75 percent of the net reserves. Apache will book proved reserves of approximately 60 million barrels of oil equivalent (MMboe) of which 50 percent is natural gas. Apache estimates the properties` probable reserves at an additional 23 MMboe.

Morgan Stanley Capital Group Inc. acquired an overriding royalty interest in the properties for $645.7 million prior to the Apache transaction. Apache has booked an $83 million liability associated with producing and delivering 20 MMBoe to Morgan Stanley (Apache will not book these reserves) and a $27 million liability associated with previously hedged production.

"Most of the properties are in areas where we already operate, so we can easily and economically integrate them into our existing operations," said Apache CEO and President G. Steven Farris.

Apache`s share of the acquired production is estimated to average 47 million cubic feet (MMcf) of natural gas and 3,300 barrels of liquid hydrocarbons per day in the current-year fourth quarter. Production is anticipated to rise to an annual average of 65 MMcf of natural gas and 6,600 barrels of liquid hydrocarbons per day as the Tarantula field in South Timbalier 308 comes on stream in early 2005. There has been minimal impact on production from these properties due to Hurricane Ivan; essentially all production is back on line.

Apache funded the acquisition with commercial paper.

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Apache`s Third-Quarter Earnings Rise 57 Percent
Apache Corporation 10/28/2004
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Apache Corporation (NYSE, Nasdaq: APA) reported record third-quarter earnings of $432 million, or $1.31 per diluted common share, up 57 percent from $276 million, or 84 cents per share in the prior-year period. The combination of continued strong prices for both oil and natural gas and record oil production fueled Apache`s results.

Apache`s earnings improved 16 percent over the previous record, $372 million or $1.13 per share, which was reported in the second quarter of 2004. Cash from operations before changes in operating assets and liabilities totaled a record $883 million in the third quarter, up from $731 million in the year-earlier period.

Apache`s third-quarter earnings were reduced by 6 cents per share because of the impact of foreign currency swings on deferred taxes and by 4 cents per share because production was curtailed by Hurricane Ivan.

Apache`s worldwide daily production averaged 458,412 barrels of oil equivalent during the third quarter, up 2 percent from the prior-year period. Liquid hydrocarbon production averaged 252,800 barrels per day, up 6 percent from the prior-year period and an 8 percent increase from the second quarter of 2004. Higher production in Australia, the North Sea and China more than offset the impact of Hurricane Ivan, which reduced Apache`s U.S. oil production by 4,042 barrels per day during the quarter.

Natural gas production averaged 1.23 billion cubic feet (Bcf) per day, down about 30 million cubic feet (MMcf) per day from the prior-year period, and about 20 MMcf below the second quarter level. Gas production would have been above second-quarter levels had it not been for the impact of Hurricane Ivan.

In the third quarter, production from the Forties Field in the United Kingdom sector of the North Sea averaged 58,000 barrels of oil per day, up from 47,200 barrels per day in the second quarter, while oil production in Australia averaged 32,200 barrels per day, up 45 percent from the second quarter. Apache`s share of production from the Zhao Dong block in Bohai Bay, China, rose to 7,900 barrels per day, up 32 percent from the second quarter.

"Apache established a new production record despite the negative effects of Hurricane Ivan," said G. Steven Farris, president, chief executive officer and chief operating officer. "What made the difference was growth in other regions, including a 23 percent increase in production from the North Sea." Apache has drilled approximately 1,500 wells in the first three quarters of 2004.

"With the impact of our recently completed acquisitions in the Permian Basin and the Gulf of Mexico, coupled with our active drilling program, we have great momentum going into the fourth quarter and into 2005," Farris said.

Commodity prices remained strong in the third quarter. Apache received $38.04 per barrel of oil during the third quarter, up 39 percent from $27.34 in the prior-year period; $26.94 per barrel for natural gas liquids, compared with $18.99 per barrel, and $4.77 per thousand cubic feet (Mcf) of gas, compared with $4.45 per Mcf.

Apache`s debt-to-capitalization ratio rose slightly to 26.3 percent at the end of the quarter, from 23.2 percent at the end of the second quarter, because of the cost of assets purchased from ExxonMobil and Anadarko Petroleum.

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Apache Declares Cash Dividend
Apache Corporation 12/21/2004

The Board of Directors of Apache Corporation (NYSE, Nasdaq: APA) has declared regular cash dividends on the company`s common shares and Series B Cumulative Preferred Stock.

The common stock dividend is payable on February 22, 2005, to stockholders of record on January 21, 2005 at a rate of 8 cents per share.

The dividend on the Series B preferred stock is payable on Jan. 30, 2005, to holders of record on Jan. 15, 2005. The payment will be $14.20 per share, which is equivalent to $1.42 per depositary share, each representing 1/10th of a share of Series B preferred stock. The Series B preferred is not listed on an exchange.

Apache Corporation is a large oil and gas independent with core operations in the United States, Canada, Australia, Egypt, and the United Kingdom sector of the North Sea.

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Shell Signs North Sea Exploration Deals with Apache
Shell 1/25/2005

Shell U.K. Limited and Apache North Sea Limited have signed a series of farm-out deals to drill two firm plus one contingent exploration wells and have agreed in principle a third firm exploration well near the Shell-operated Nelson and Apache-operated Forties field in the central North Sea.

Under the terms of the agreement, Apache will operate the blocks and firm exploration wells are planned for Block numbers 22/6a, 22/7 and 22/12 with a contingent well possible for 22/11. Block 22/6a is held 50/50 by Shell and Esso Exploration and Production UK Limited (Esso) (an ExxonMobil company) while 22/7, 22/11 and 22/12a were acquired by Shell as part of the Enterprise Oil portfolio in 2002. Block 22/7 is held by Shell and joint venture partners including BP Exploration Operating Co. Ltd.

Rien Herber, Exploration Director of Shell Exploration & Production in Europe, said: "This deal is a great example of cross industry collaboration in realizing Near Field exploration potential. It will help to maximize recovery of hydrocarbons from a mature area like the North Sea, potentially allowing Shell to increase its portfolio of existing oil, and is a further demonstration of our commitment to the area.

"The Forties field is adjacent to the Nelson field, so Apache was the logical partner for Shell. A farm-out deal is a win-win for all companies involved and this example allows an increase in near field exploration activity which will also provide an opportunity to extend the life of existing infrastructure; if hydrocarbons are discovered they will probably be produced over the nearby Shell operated Nelson platform."

John Crum, Managing Director of Apache North Sea Limited, said: "We are pleased to work closely with a premier North Sea operator to expand the potential in the Forties - Nelson area. The Shell and Apache partnership has the potential to make a long term difference in the North Sea through increases in exploration and development activity."

Energy Minister Mike O`Brien commented "This innovative deal is a prime example of how oil majors can and are working with new entrants to maximize recovery from the North Sea for the benefit of all."

Shell drilled an exploration well for Apache in 22/12a, taking advantage of an available Shell contracted rig slot in November 2004 and the results will be announced separately. Apache is expected to start drilling the second and third exploration wells in the first quarter of 2005.

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Apache Reports Increase in 2004 Earnings of 49%
Apache 1/27/2005

Apache Corporation (NYSE, Nasdaq: APA) reported that record production combined with continued strong commodity prices drove 2004 net income to a record $1.7 billion, or $5.03 per diluted common share, up from $1.1 billion, or $3.43 per share, in 2003.

In the fourth quarter, Apache recorded net income of $507 million, or $1.52 per share, up 90 percent on a per-share basis from the year-earlier period. Apache earned $260 million, or 80 cents per share, in the fourth quarter of 2003.

"We added 467 million barrels of oil equivalent from a capital investment of $3.4 billion, which fueled 7 percent production growth," said G. Steven Farris, president, chief executive officer and chief operating officer. "With that growth and strong commodity prices, Apache turned in a very good year. We enter 2005 with record production and a strong portfolio of drilling opportunities across our core areas."

Apache`s 2004 operational and financial highlights included:

# Cash from operations before changes in operating assets and liabilities totaled $3.4 billion, up 22 percent from 2003. In the fourth quarter, cash from operations totaled $1.1 billion, up from $786 million in the year-earlier period. (Cash from operations before changes in operating assets and liabilities is a non-GAAP measure; see reconciliation below.)

# Proved reserves increased for the 19th consecutive year, climbing 17 percent or 280 million barrels of oil equivalent (MMboe) after production and revisions, to 1.94 billion barrels of oil equivalent.

# For the year, Apache produced an average of 448,000 barrels of oil equivalent (boe) per day, up from 417,000 boe per day in 2003. Apache`s production has increased in 25 of the last 26 years.

# In total, Apache added 467 MMboe of proved reserves through drilling and acquisitions during 2004, substantially more than the 164 MMboe produced during the year. Apache added proved reserves of 335 MMboe from exploration and development activities - the most ever - and 132 MMboe through acquisitions. The company spent $2.3 billion on exploration and development activities and $1.1 billion on acquisitions.

# At year-end, Apache`s debt was 24 percent of total capitalization despite $3.4 billion in spending for acquisitions and exploration and development activities.


In the fourth quarter, Apache`s production of 461,000 boe per day was up slightly from the third quarter despite the lingering effects from Hurricane Ivan in the Gulf of Mexico, which curtailed production by an estimated 9,700 barrels of oil and 34 million cubic feet (MMcf) of gas per day during the quarter.

Apache`s fourth-quarter financial results also included $44 million in other income - business interruption insurance for reimbursement for production lost because of the storm. Apache expects to file an additional claim for production curtailments continuing into 2005. Apache also incurred $12 million in additional expenses related to storm damage.

A change in accounting rules concerning stock-based compensation has reduced the earlier projected fourth-quarter expense associated with achievement of goals in Apache`s share appreciation plan to less than 1 cent per share. More than 1,900 employees were awarded shares of Apache stock after the company`s share price doubled over the four-year term of the plan, which ended on Dec. 31, 2004. Non-executive employees were awarded more than 90 percent of the incentives.

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Apache Makes Two Discoveries Onshore Egypt
Apache 4/5/2005

Apache has made two discoveries in Egypt. The Syrah 1X wildcat, on the company`s 100 percent-contractor-interest Khalda Concession, tested 46.5 million cubic feet (MMcf) of natural gas per day. The Tanzanite 1X discovery, located onshore on Apache`s West Mediterranean Concession, test- flowed 5,296 barrels of oil and 7.4 MMcf of gas per day.

The Syrah 1X, completed in the Jurassic Lower Safa formation, was tested on a 48/64-inch choke with 3,980 pounds per square inch (psi) of flowing wellhead pressure. It was drilled to a total depth of 14,445 feet and perforated between 13,750 feet and 13,905 feet in a Jurassic fault block separate and down-dip from the Qasr Jurassic field and overlain by a four-way dip closure at the Cretaceous Alam el Bueib (AEB) 3D formation.

The Syrah 1X logged 266 feet of net pay from Cretaceous to Jurassic horizons between 11,400 feet and 13,918 feet. The thickest pay -- 174 feet between 13,744 feet and 13,918 feet -- is in the Lower Safa and is stratigraphically similar to the Qasr field. Syrah 1X also logged 32 feet of net pay in the Jurassic Upper Safa and 60 feet of potential oil pay in AEB sands.

Pressure analysis indicates that the AEB 3E pay may be in communication with the Qasr and Ozoris fields approximately three miles to the south. The Syrah well`s structural/stratigraphic trap in the Jurassic Lower Safa encompasses a 606-foot hydrocarbon column over a potential area of more than 4,000 acres.

"The Syrah 1X Jurassic discovery is a separate closure 3.3 miles northwest of Qasr field which, with estimated reserves of 2 trillion cubic feet of gas and 45 million barrels of condensate, is the largest discovery in Apache`s history," said Rodney J. Eichler, Apache`s executive vice president in charge of Egyptian operations. "Delineation of the structure will take additional wells, but seismically, the Syrah field is potentially at least one-quarter the size of Qasr. That would rank the new-field discovery the third-largest Jurassic gas field found to date in the Western Desert."

Apache plans to produce Syrah`s gas through its new Qasr field production facility starting this summer, adding to the company`s present Western Desert gross production of 300 MMcf of gas per day. Apache has contracts that will more than double its Western Desert production to 637 MMcf of gas per day as additional processing capacity comes on line over the next several years. The rig that drilled the discovery has moved approximately 0.2 of a mile southwest to drill the Syrah 2, targeting oil pays in the AEB.

On Apache`s onshore West Mediterranean Concession, the Tanzanite 1X discovery was tested on a 1-inch choke with 814 psi of flowing wellhead pressure from 13 feet of perforations in the AEB 3A sandstone. The well logged a combined 207 feet of net pay from several Cretaceous horizons between 8,670 feet and 11,560 feet.

The Tanzanite 1X was drilled to a total depth of 12,440 feet to test a seismically defined four-way dip closure 1.7 miles southeast of the North Alamein field and production facilities.

The well will be connected to the North Alamein processing facilities. Production will commence upon approval of a development lease by the Egyptian General Petroleum Corporation. Apache has a 65 percent contractor interest in the concession and RWE Dea AG has the remaining 35 percent.

The Tanzanite 2 appraisal well will be drilled to test the Alamein Dolomite at a location 0.4 of a mile northeast of the Tanzanite 1X surface location. The well also will be designed to test and produce the overlying Kharita and Dahab reservoirs at this structurally up-dip location.

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Apache 1Q05 Earnings Rise 62%
Apache Corporation - Thursday, April 28, 2005

Apache Corporation (NYSE, Nasdaq: APA) reported that higher oil and gas prices and strong production contributed to record first-quarter 2005 earnings of $559 million or $1.67 per diluted common share, up from $345 million or $1.05 per diluted common share in the first quarter of 2004.

Cash from operations before changes in operating assets and liabilities totaled $1 billion, up from $737 million in the year-earlier period. (This is a non-GAAP measure)

Production averaged 462,000 barrels of oil equivalent per day in the quarter, up 7 percent from the first quarter of 2004 and up slightly from last year`s fourth quarter.

High oil and gas prices were a strong driver for first-quarter financial results. Apache received $46.05 per barrel of oil in the quarter, up 51 percent from the prior-year period; $27.68 per barrel of natural gas liquids, up 16 percent; and $5.30 per thousand cubic feet of gas, up 11 percent.

"We are off to a strong start in 2005, with record earnings," said G. Steven Farris, Apache`s president, chief executive officer and chief operating officer. "Our successful drilling program in the first quarter and deep inventory of opportunities should contribute to Apache`s financial and operating results in coming quarters."

Recent operational highlights include:

* Apache drilled two significant discoveries in Egypt during the
quarter. The Syrah 1X wildcat, on the company`s 100 percent-
contractor-interest Khalda Concession, tested 46.5 million cubic feet
(MMcf) of natural gas per day. The Tanzanite 1X discovery, located
onshore on Apache`s 65 percent-contractor-interest West Mediterranean
Concession, was tested in two separate Alam el Bueib (AEB) zones. The
first tested at a rate of 5,296 barrels of oil and 7 MMcf of gas per
day and the second at a rate of 5,631 barrels of oil and 17 MMcf of
gas per day.

* Apache has drilled 86 wells on Canadian acreage acquired last year in
a farm-in from ExxonMobil. Apache has tested 73 wells with productive
capacity of 52 MMcf of gas per day. The wells are expected to be
brought on production as processing and transportation infrastructure
becomes available.

* Apache`s debt-to-capitalization ratio declined to 22.7 percent at the
end of the first quarter, from 24 percent at year-end 2004.

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Apache Declares Cash Dividends on Common and Preferred Shares
Apache Corporation 5/11/2005

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The Board of Directors of Apache Corporation (NYSE, Nasdaq: APA) has declared regular cash dividends on the company`s common shares and Series B Cumulative Preferred Stock.

The dividend on the common shares is payable on Aug. 22, 2005, to stockholders of record on July 22, 2005, at the rate of 8 cents per share.

The dividend on the Series B preferred stock is payable Aug. 1, 2005, to holders of record on July 15, 2005. The payment will be $14.20 per share, which is equivalent to $1.42 per depository share, each representing 1/10th of a share of Series B preferred stock. The Series B preferred is not currently listed on any exchange.

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Apache`s Rose Well on Stream in Australia
Apache Corporation 6/15/2005

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Apache reports the development of its Rose gas/condensate field with the completion of the Rose 4 development well which is on stream, flowing at a daily rate of 101 million cubic feet (MMcf) of natural gas and 3,500 barrels (bbls) of condensate from the Brigadier and Mungaroo formations.

The Rose field is part of the Harriet Joint Venture, which Apache operates with a 68.5 percent interest. Its partners are Kufpec with 19.3 percent and Tap Oil with 12.2 percent.

"Development of Rose significantly enhances the joint venture`s gas deliverability," said Eve Howell, regional vice president and managing director of Apache`s operations in Australia. "Production from Rose-4 will be sold into 13 dedicated contracts and, along with the John Brooks development scheduled to come on line in August, should substantially increase the region`s second-half gas volumes over previously reported levels."

The Rose field is located approximately 11 miles northeast of Apache`s Varanus Island production hub in about 82 feet of water. Rose-4 was drilled as an extended-reach development well from the Linda platform to a measured depth of 19,906 feet. The well intersected the three field pay sands (the Jurassic-Triassic age North Rankin, Brigadier and Mungaroo Formations) on the crest of the structure and is favorably positioned to deplete Rose`s estimated 40 billion cubic feet of natural gas reserves.

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Apache Discovers New Field Pay at Tanzanite
Apache Corporation 7/5/2005
[URLhttp://www.rigzone.com/news/article.asp?a_id=23593[/url]

Apache reports that the Tanzanite-2 well on Egypt`s West Mediterranean Onshore Concession flowed 2,846 barrels of oil and 640 thousand cubic feet (Mcf) of gas per day in the first test of the Cretaceous-age Alamein Dolomite formation in the Tanzanite Field.

The Tanzanite-2, located approximately 2,000 feet northeast of the Tanzanite 1X discovery, was drilled to a total depth of 9,075 feet. The test was conducted on the top 12 feet of the targeted Alamein Dolomite formation on a 1-inch choke with 205 pounds per square inch (psi) of flowing wellhead pressure. An additional 22 feet of net pay was logged in the overlying Dahab formation.

The Tanzanite-2 well was connected to the North Alamein field production facilities located 1.6 miles to the southeast. The well is producing 2,782 barrels of oil and 640 Mcf of gas per day on a 1-inch choke and 205 psi of wellhead pressure. The North Alamein field, discovered by Apache in 1998, has produced 2.2 million barrels of oil from the Alamein Dolomite and Dahab formations.

The Tanzanite-1X, drilled in April, logged over 200 feet of net pay from multiple Cretaceous horizons between 8,670 and 11,560 feet. Separate tests from a total of 33 feet of pay in two AEB 3A zones in the lower Cretaceous from 10,788 feet to 10,801 feet and from 10,924 feet to 10,934 feet flowed at a combined rate of 10,927 barrels of oil and 23.8 million cubic feet (MMcf) of gas.

The well currently is producing 1,050 barrels of oil and 2 MMcf of gas on a 28/64-inch choke from the middle interval of the three AEB 3A pay zones.

In mid-August, Apache plans to spud the Tanzanite-3 well to accelerate AEB oil production up-dip to the Tanzanite-1X.

Apache has a 65 percent contractor interest in the onshore concession. RWE Dea AG has the remaining 35 percent contractor interest.

Apache also announced a new field oil discovery -- the El Diyur-2X -- on the Apache-operated El Diyur Concession 120 miles southwest of Cairo in Egypt`s Western Desert. A test of the lower Bahariya formation flowed at a rate of 1,177 barrels of oil per day from 10 feet of perforations after fracture stimulation.

The El Diyur-2X, the first productive well on the concession, encountered oil pay in six stratigraphic intervals. Oil-bearing sandstones were logged primarily in the Bahariya formation and in the C, E and G members of the Abu Roash formation. In total, the well encountered 262 feet of logged oil pay.

Production will commence after approval of a development lease by Egypt`s Ministry of Petroleum. Apache is operator of the El Diyur Concession and has 46.5 percent contractor interest. Sipetrol holds a 41 percent interest, and IPR holds the remaining 12.5 percent interest.

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Apache läuft wie auf Schienen unbeirrt weiter nach oben - seit Ende 2001 hat sich der Kurs mehr als vervierfacht. Die Öl- und Gasproduktion im Golf von Mexiko ist weitgehend unbeschädigt geblieben bzw. konnte wieder in Betrieb genommen werden: http://www.rigzone.com/t.asp?l=399213&m=189592.

Zudem ist erneut (das vierte Jahr in Folge) eine Dividendenerhöhung vorgeschlagen worden:

Apache Increases Common Stock Dividend 25 Percent
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Apache announced that its Board of Directors has voted to raise the quarterly cash dividend on its common stock 25 percent, to 10 cents per share from 8 cents per share, effective with the November dividend payment.

This is the fourth consecutive year in which Apache has increased its common stock cash dividend. The company also paid a 10 percent common stock dividend in 2002, a 5 percent common stock dividend in 2003 and split its common stock two-for-one in 2004.

The dividend on the common shares is payable Nov. 22, 2005, to stockholders of record on Oct. 24, 2005.

The Board declared a regular cash dividend on Apache`s Series B Cumulative Preferred Stock, payable Nov. 1, 2005, to holders of record on Oct. 15, 2005. The payment will be $14.20 per share, which is equivalent to $1.42 per depository share, each representing 1/10th of a share of Series B preferred stock. The Series B preferred is not currently listed on any exchange.

Apache Corporation is a large independent oil and gas company with core operations in the United States, Canada, Egypt, Australia and the United Kingdom sector of the North Sea.