Apache sees 14-19 million bbl at Balnaves

By OGJ editors
HOUSTON, Oct. 14
-- Ultimate recovery could reach 14-19 million bbl of oil from Balnaves field in WA-356-P off Western Australia, said Apache Corp. after successfully appraising the 2009 discovery.

The Balnaves-1 discovery well cut 64 ft of net oil pay in the B20 sand, a high-quality light oil accumulation at 10,600-700 ft below sea level. The pay zone is the Triassic Mungaroo formation below the large gas reservoirs of Brunello field.

Balnaves-2 was a sidetrack from the discovery, and Balnaves-4 was a sidetrack from Balnaves-3. The recent Balnaves-3 appraisal well test-flowed 9,076 b/d of oil and 13 MMscfd of natural gas from a 16-ft perforated section, confirming good reservoir deliverability.

Success at the three Balnaves appraisal wells has triggered development planning by subsidiary Apache Julimar Ltd. Pty.

Julimar and Brunello fields are large gas discoveries that will be developed to provide gas for the Wheatstone liquefied natural gas development operated by Chevron Corp. subsidiary Chevron Australia Pty. Ltd. Apache Julimar will operate the design and construction phases of the WA-356-P upstream part of the Wheatstone project.

Apache Julimar has a 65% interest in WA-356-P and a 16.25% equity interest in the Wheatstone project. Kufpec Australia (Julimar) Pty. Ltd., a subsidiary of Kuwait Foreign Petroleum Exploration Co. KSC, owns the remaining interest in the offshore license and an 8.75% interest in the Wheatstone project. The equity interests may be reduced as a consequence of an earlier heads of agreements signed with Korea Gas Corp. for the purchase of LNG from Wheatstone and an equity stake in the project.

Apache’s Australia Region started production last February from the Van Gogh and Pyrenees oil developments, and the Reindeer gas discovery is expected to begin producing in the second half of 2011 through a new onshore gas processing facility at Devil Creek.

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