APA’s Rasper Well Finds Water Offshore Suriname

Houston-based APA Corp. concluded drilling operations at the Rasper exploration well offshore Suriname in Block 53 after not finding oil or gas. The drillship used for the well will now be mobilized to the Baja exploration prospect, which is closer to the border with Block 58.

Rasper “encountered water-bearing reservoirs in the Campanian and Santonian intervals and evaluation of the openhole well logs, with formation and reservoir fluid samples ongoing,” APA announced June 13 in a press release.

APA, which holds a 45% working interest in Block 53, commenced drilling operations at Rasper in late March after completion of technical work in 2021. Partners in the block with APA include Malaysia’s Petronas, which holds a 30% interest, and Spain’s CEPSA with a 25% interest.

The Noble Gerry de Souza drillship, used to drill Rasper, will be mobilizing to the next exploration prospect, Baja, situated in the southwestern portion of Block 53. Baja—located approximately 11 km northeast of Block 58, where APA and partner TotalEnergies SE reported a find Krabdagu—will test Maastrichtian and Campanian targets.

APA’s operations in Suriname underpin the company’s push to pursue new growth opportunities outside its core producing areas, which include the U.S., Egypt and the U.K. APA remains committed to a long-term plan to achieve a balanced asset portfolio, it announced most recently in its 2021 Form 10-K filing.

In Suriname, APA is looking to replicate the success of an Exxon Mobil Corp.-led consortium in neighboring Guyana in the prolific Stabroek Block. There, approximately 26 major discoveries have been made. Exxon Mobil now estimates Stabroek contains gross discovered recoverable resources of 11 Bboe.

Guyana and Suriname share the Guyana-Suriname basin. To date, the majority of the discoveries in the basin have been in the “golden lane,” which spans in a southeastern direction from Guyana’s Stabroek and across the border into Suriname’s adjacent Block 58.

APA’s holdings in Suriname include 867,000 acres in Block 53 and 1.4 million acres in Block 58.

Block 58 FID

In Suriname’s Block 58, APA holds a 50% interest while French partner TotalEnergies holds the remaining 50% interest.

To date, the partners have reported five exploration discoveries since January 2020. APA operated and drilled the first four wells on the block and subsequently transferred operatorship to TotalEnergies.

The companies could make a final investment decision (FID) for Block 58 this year or next in a worst-case scenario.

“We made promising discoveries in Suriname, drawing us closer toward a final investment decision [FID],” APA CEO and President John J. Christmann IV said May 4 in a company press release.

Editor’s note: This story was updated from a previous version posted at 9 a.m. CT on June 13.