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
3 June 2025
China will play a huge role in driving gas demand, with its Qatar partnership crucial to this growth amid global structural challenges
3 June 2025
Datacentres to drive demand for gas and position the fuel as more than just a bridging solution
2 June 2025
It is time to acknowledge that the US-Saudi Arabia nexus is driving a fundamental shift in OPEC strategy
2 June 2025
More than anything else, weak Chinese gas demand is providing relief to EU consumers, but it is uncertain how long this relief will last
