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 exploration in the Neuquen basin, unconventional exploratoration in the Neuquen basin, and continued exploration and field development in Colombia, where Apco's first two wells resulted in discoveries in 2012.
Apco said its efforts to explore the ...