Argentina: Apco to hike 2013 capital spending

Apco Oil & Gas International Inc., Tulsa, plans capital spending of $66 million in 2013 compared with outlays of $54.4 million last year.

The 2012 expenditures went mainly for development and exploratory drilling in Argentina’s Neuquen basin and exploratory drilling in Colombia.

The company plans to participate in the drilling of 48 gross wells in 2013 compared with 37 in 2012.

The 2013 capital program will focus on development and exploratory drilling in the Neuquen basin, unconventional exploratory drilling in the Neuquen basin, and continued exploratory drilling and field development in Colombia, where the company’s first two wells resulted in discoveries in 2012.

The company said its efforts to explore the Vaca Muerta shale in Argentina have met with positive but modest results to date and indicate that the formation is capable of production. Apco will further target the Vaca Muerta in 2013 on its Coiron Amargo block and said “understanding the potential of this resource will take persistence and perseverance by all companies.”

Related Articles

INTERNATIONAL BRIEFS

01/01/1990 WESTCOAST ENERGY INC., Vancouver, B.C., agreed to buy the utilities and propane business of Inter-City Gas Corp. (ICG), Winnipeg, Man., for $720 mi...

OWNERSHIP QUESTIONS CAN STYMIE DEVELOPMENT OF COALBED METHANE

01/01/1990 Although the technology exists for commercial recovery of coalbed methane, production has been hindered because of the legal quandary as to ownersh...

OIL FLOW RISING IN E. CHINA REGION

01/01/1990 Production is building from an oil producing area in the lower reaches of the Yangtze River in eastern China's Jiangsu Province. The northern J...

GAS EXPLORATION FANS OUT MIN ARKOMA BASIN

01/01/1990 Gas exploration is heating up in the South Central Arkoma basin's pre-Pennsylvanian formations. Several operators are targeting Siluro-Devonian...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected