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

BOEM: Firms bid $850 million in high bids in central gulf lease sale

03/24/2014 The US Bureau of Ocean Energy Management reported that its central Gulf of Mexico Lease Sale 231 received 380 bids from 50 companies on 326 blocks,...

Statoil makes gas find on flank of Visund field in North Sea

03/24/2014 Statoil Petroleum AS has made a natural gas discovery on the northeast flank of Visund field in the northern part of the North Sea, the Norwegian P...

CNOOC makes natural gas discovery in Bohai Bay

03/24/2014 CNOOC Ltd. has made what it describes as a “mid-sized” natural gas discovery in the Bozhong 22-1 structure in the south-central region of Bohai Bay.

Tethys reports second successful gas well in Kazakhstan

03/20/2014 Tethys Petroleum Ltd. reported the success of the second shallow gas exploration well of its 2014 program on the Akkulka block in the Caspian regio...

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