Apache hails UK discoveries

摘要

London—Recent North Sea discoveries by US company Apache should yield between 50 million barrels and more than 70 million barrels of oil equivalent in recoverable reserves, reinforcing the company’s confidence in the UK sector despite a recent dearth of exploration success in UK waters generally. The announcement Friday echoed recent upbeat comments on the UK by Apache, at a time when several other US companies have scaled back their presence or withdrawn altogether from the region. Apache has boasted of industry-beating cost levels in its operations compared with other UK operators, although it has also faced criticism from labor unions.