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Apache expands WA exploration

US oil explorer Apache has expanded its exploration position in WA, farming into two permits in the petroleum-rich Carnarvon Basin.

Angela Macdonald-Smith
Angela Macdonald-SmithSenior resources writer

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US oil explorer Apache is expanding its already substantial exploration position in Western Australia, farming into two permits in the petroleum-rich Carnarvon Basin.

The Houston-based firm will take a 40 per cent stake in the adjacent WA-409-P and WA-359-P permits in return for carrying out a three-dimensional seismic survey over the licenses, scheduled to start later this year. It also has the option to fund the first well in either permit in return for up to a 30 per cent additional stake.

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Angela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables. Connect with Angela on Twitter. Email Angela at amacdonald-smith@afr.com

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    Original URL: https://www.afr.com/companies/energy/apache-expands-wa-exploration-20101021-iufd2