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Apache Announces One of Oklahoma's Largest Gas Wells; Well Flowing 12 Million Cubic Feet of Gas Per Day

HOUSTON, Feb. 3 /PRNewswire/ -- Apache Corporation (NYSE: APA) today announced its participation in one of Oklahoma's largest natural gas producers. The Amoco-operated Maria No. 1, in which Apache owns a 40 percent working interest, is flowing into pipeline at the rate of 12 million cubic feet of gas per day with 3,000 pounds of flowing casing pressure.

Producing from a new fault block in the West Cement field, the Maria No. 1 penetrated 267 feet of net pay in three formations and currently is producing from 110 feet of net pay in the lower Boatwright sands of the Springer formation. Perforations are between 14,490 feet and 14,690 feet.

Amoco (NYSE: AN) has a 50 percent interest in the producer and Parker & Parsley Petroleum Company (NYSE: PDP) owns the remaining 10 percent.

The Caddo County well's location was selected as a result of a 3-D seismic survey. The data suggests additional faulted reservoirs may be present under the survey. One offset well is planned for the near future, and Apache holds interests in three offsetting locations.

The Maria No. 1 is located approximately five miles south of the Verden- Laverty area where Apache continues to post successful drilling results. Currently the company has four wells drilling, three completing and two recompleting to the Springer formation.

The largest independent gas producer in Oklahoma, Apache Corporation has core operations in the United States, Canada, Egypt and Western Australia, and projects in Indonesia, the Ivory Coast and the People's Republic of China. Its shares are traded on the New York and Chicago stock exchanges.

Amoco Corporation is a major explorer, producer, refiner and marketer of petroleum products worldwide.

Parker & Parsley Petroleum Company is an oil and gas exploration and production concern with oil and gas properties in the Midwest, Texas, Louisiana, Argentina, Australia and Indonesia.

SOURCE Apache Corporation
 -0- 02/03/97

/CONTACT: Media: Tony Lentini, 713-296-6227, or John Kelso, 713-296-6155, or Investor: Robert Dye, 713-296-6662, of Apache Corporation/


CO: Apache Corporation; Amoco; Parker & Parsley Petroleum Company ST: Texas IN: OIL SU: DSC

LA-TR -- LAMO67 -- 1005 02/03/97 12:31 EST
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Publication:PR Newswire
Date:Feb 3, 1997
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