Apache Touts New Delaware Basin Resource Play

摘要

Apache's shares caught a tailwind on Wednesday as the company announced the discovery of a 'significant new resource play' in a largely overlooked area of the red-hot Permian Basin. The Houston-based producer said that over the past two years it has quietly accumulated 307,000 net acres in Reeves County in West Texas, where multiple 'stacked' rock formations hold large quantities of liquids-rich gas and crude oil.