Overview

Canada

Apache entered the Canadian market in 1995 and currently holds nearly 3.6 million gross acres across the provinces of British Columbia, Alberta, and Saskatchewan. The region’s large acreage position presents significant drilling opportunities and portfolio diversification with exposure to oil-, gas- and liquids-rich fairways. The Canada Region provided approximately 13 percent of Apache’s 2015 worldwide production and held 280 million barrles of oil equivalent (MMboe) of estimated proved reserves at year-end.

In 2015, Apache drilled or participated in drilling 38 wells in the region with a 100-percent success rate. Drilling operations continued in the established Swan Hills, Bluesky and Glauconite plays, and the Montney and Duvernay emerging growth plays were de-risked. The results from the first seven-well pad in the Duvernay were encouraging. Moving to a pad development decreased costs by 40 percent from 2014. The pad commenced production during the fourth quarter, with average 30-day initial production rates of 1,632 barrels of oil equivalent (Boe) per day per well. Montney drilling has been focused in the Karr-Simonette and Wapiti areas. The two initial wells in Karr-Simonette exceeded expectations with peak oil rates of 450 and 630 Boe per day. Apache has also successfully tested the lower Montney in the Wapiti area. The region’s development activity in 2016 will primarily be centered on the Duvernay and Montney programs.

CANADA OPERATIONAL HIGHLIGHTS

  THIRD-QUARTER
2016
THIRD-Quarter
2015
Oil production (Bpd) 12,619 14,795
Total liquids production (Bpd) 18,658 21,235
Natural gas production (Mcfd) 233,635 270,027
Barrels of oil equivalent per day 57,597 66,239

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