Tuesday 3 December 2019

Apache Corporation (NYSE, Nasdaq: APA) today updated the status of its first exploratory well in Block 58 offshore Suriname. Drilling operations on the Maka Central - 1 well commenced in late September with an expected drill time of 30 to 60 days.

Upon reaching a depth of approximately 6,200 meters, the company elected to conduct various testing activities in two distinct Upper Cretaceous play types. Following the completion of these tests, the company will set casing, make equipment modifications to the rig, and resume drilling in mid-December to evaluate a third play type in the Cretaceous. The new target depth of the well is approximately 6,900 meters. Following the drilling operations, further testing and evaluation will be conducted as appropriate.

Additional information will be provided when the company is prepared to characterize the results.