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Praise for Beryl
Posted 28.05.2012 09:39:20 av John Bradbury
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Praises have been sung for Apache in the North Sea by a US stock market site which says the company's success with a well on the UK Beryl field could send the company's share price soaring.

Seeking Alpha, a US based stock market site, has said the successful UK Beryl well drilled by Apache could help send Apache stock $12 higher this year.

The positive note from the US website comes after Apache drilled an extension well at Beryl which contained more than 300 feet (91.5 metres) of net pay in three separate Jurassic reservoir compartments, according to Jim House, Apache's regional vice president for the North Sea.

“We're very excited about this well because we've found virgin reservoir pressure in two of three zones,” House noted in a statement by Apache.

Initial production from the B57 Beryl well is  the highest achieved at the field for 11 years and the well has been brought onstream with production of 11,625 b/d of oil per day (and 13.1 Mmcf/d of gas.

Apache now operates Beryl with 50%, along with a clutch of other operated assets it acquired from ExxonMobil at the end of last year including Nevis, Ness, Nevis South, Skene and Buckland fields in a US $1.75 billion deal.
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