Houston-based oil firm Apache said yesterday a third production well at its UK North Sea Bacchus development was online.
It said oil from the new well was flowing at 9,400 barrels per day, while gross daily production from the field – in which it has a 50% working interest – had reached 17,600 barrels.
Apache also reported higher quarterly profits, helped by a surge in shale operations. It reported second quarter net income of £674million, compared with about £223million a year earlier.
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