Interest in Deep Anadarko Basin Natural Gas Wells Bought

By Fears, Ronda | THE JOURNAL RECORD, July 4, 1989 | Go to article overview

Interest in Deep Anadarko Basin Natural Gas Wells Bought


Fears, Ronda, THE JOURNAL RECORD


Interests in 20 natural gas wells in the Deep Anadarko Basin in western Oklahoma have been sold to Apache Corp. of Denver for $6 million.

The purchase brings Apache's holdings in Oklahoma to interests in 54 wells in Oklahoma, company spokeswoman Karen Mueller said. She said Apache operates 10 percent of the rig count in Oklahoma.

Dutcher & Co. Inc., an Oklahoma City consulting and property management firm, represented the seller, Heafitz Energy Management of New York. Dutcher continues to manage interests in more than 100 oil and gas properties for Heafitz, an energy investment company.

Prior to purchasing interests in the 20 wells in the Southeast Berlin Field in Beckham County and Northeast Carpenter Field in Custer County, Apache had working interests in 34 wells in the Berlin field, Mueller said. She said Apache's latest production figures for Oklahoma totals 8,800 barrels of oil per day and 205 million cubic feet of natural gas per day.

Of the 20 wells involved in the purchase, Apache had previously held working interests in 16 and operated 14, Mueller said.

In the Mid-Continent region, which encompasses Oklahoma, Mueller said Apache has 1,407 gross wells, or 312 net wells, and operates 236 net wells. . .

- Computer software to help the U.S. petroleum industry to make strategic pricing and managerial decisions has been introduced to the market by MPSI Inc. of Tulsa.

The two products, "Price-Strat" and "Resource Opt," were developed in Europe using the latest artificial intelligence technology, MPSI officials said.

MPSI, an international and software and decision support company based in Tulsa, operates in more than 49 foreign countries. The Oklahoma company announced the U.S. marketing push on June 26.

"As a company, we are continually developing new methods for serving the needs of our clients," said Elliot Olson, vice president of business development for MPSI.

"Along with this, when we find a useful product created elsewhere that can directly benefit our clients, we will do everything possible to make these advantages available."

Price-Strat is a knowledge-based system that recommends tactical, or short-term, pricing strategies to maximize profitability at retail locations and at the same time, meet other strategic objectives, MPSI said.

MPSI explained that the knowledge base is developed from the organization's senior managers' expertise about the market and competitors, historical data and market research data.

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