American Apache Corporation has concluded drilling operations for a wildcat well, labeled TELL-1X, located in the company’s West Kalabsha block in the Western Desert. The operation comes as part of Apache’s drilling plan for the current fiscal year 2011-2012.
Sources have placed drilling investments in the well at $4.201 million. It was drilled via the EDC-59 rig to the depth 15,240 feet. Post drilling assessment has revealed the well to be a dry hole.
Apache Corp. is an oil exploration and development company with operations in various countries including the US, Australia, Canada, Argentina, the UK, and Egypt. The company produces an approximate 265,000 barrels of oil and 1.5 billion cubic feet of natural gas per day. The company operates in Egypt through Khalda Petroleum and Qarun Petroleum, both of which are jointly owned by the Egyptian General Petroleum Corporation (EGPC).