Apache to Develop Lucius Project in Deepwater Gulf of Mexico

Apache Corporation (NYSE and Nasdaq: APA) today announced that its wholly owned subsidiary along with other co-venturers will proceed with development of the Lucius project in the Keathley Canyon area of the deepwater Gulf of Mexico. Lucius, located approximately 200 miles southeast of Houston in waters about 7,000 feet deep, will be developed using a truss spar floating production facility with production capacity of 80,000 barrels of oil and 450 million cubic feet of natural gas per day. The spar is currently under construction at Technip's facility in Pori, Finland. First production is planned for 2014 from six initial producing wells.