Apache is appraising a February discovery in Suriname
Apache ups Suriname spending
The US independent will be more active in the frontier province for the rest of the year
Houston-headquartered Apache has upped its expectations of 2022 capex by c.$125mn, driven mainly by expectations of greater activity in Suriname. But, while it continues to appraise a February discovery in the country and drill another well, it is coy on exactly what its plans are for the additional spend. Parent company APA is raising full-year capex guidance by c.8pc, to $1.725bn, even after upstream capex in the year’s first quarter was c.$360mn, or $30mn below guidance. “Approximately half of this increase is associated with Suriname as we now plan to keep the Noble Gerry de Souza drillship in country following conclusion of operations at the Rasper well in block 53,” says the firm’s CEO
Also in this section
21 January 2025
The new president must put his cards on the table and tell the American people, and the world, if the US is formally abandoning the energy transition
20 January 2025
Country offers to boost gas exports to Europe to 10bcm/yr, but serious questions remain
20 January 2025
The country’s oil and gas giant, KazMunayGas, is pushing ahead with a series of significant international partnerships
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
