Project Profile
Location: Neuquén Basin
In the Neuquén Basin, the most noteworthy developments are associated to projects under the Gas Plus program, which allows higher gas prices to help stimulate the exploration and development of natural gas resources in challenging geological scenarios. In 2010, Apache signed three Gas Plus contracts totaling 63 million cubic feet per day (MMcf/d) of gross production from fields in the Neuquén and Rio Negro provinces. The first contract, for 10 MMcf/d at US$4.10 per MMBtu for 2010, has been extended through 2011 for 11 MMcf/d at the US$4.10 per MMBtu. The other two contracts, which together totaled 53 MMcf/d at US$5 per MMBtu, are expected to commence in the first quarter of 2011. The gas supply is required to come from wells drilled in the projects’ approved fields and formations.
Operator:
Apache Corporation: Operator with 50% interest
Crown Point Ventures Ltd.: 50% interest
Contractor:
Halliburton: Horizontal, multistage hydraulic fracture shale gas completion