- Apache (NYSE:APA) has announced a discovery of as much as 300M barrels of crude at an exploration well off the shore of Western Australia.
- If confirmed, the reserves would mark Australia's largest oil discovery in decades.
- The country is in need of oil sources to replace fast diminishing reserves, and the discovery may reopen a frontier of oil exploration which was abandoned years ago after wells turned up dry.
Apache Corporation (APA): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report
at Zacks.com (Nov 13, 2014)