UBS Maintains a 'Buy' on Apache Corp. (APA); Highlighting A Liquid-Rich Portfolio
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Price: $81.66 -0.23%
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade APA Now!
UBS maintains a 'Buy' on Apache Corp. (NYSE: APA) price target of $127.00.
Analyst, William A. Featherston, highlighted the company's solid liquid-rich inventory.
Yesterday, the Apache Corp. issued a press release regarding it's liquid rich resource inventory and some highlights include:
1. Apache, the second-largest producer and acreage owner in the Permian Basin of West Texas and eastern New Mexico, has identified approximately 34,500 drillable locations with an estimated net resource of 3.8 billion barrels of oil equivalent (Boe).
2. In the Anadarko Basin in western Oklahoma and the Texas Panhandle, Apache has identified approximately 32,500 drillable locations primarily in the Granite Wash, Cleveland, Tonkawa and Marmaton formations with an estimated net resource of 5.4 billion Boe.
3. In northern British Columbia, Canada, Apache has validated an outstanding new shale play in the Liard Basin with net estimated sales gas of 48 trillion cubic feet of natural gas (8 billion Boe) across 430,000 acres held with a 100-percent working interest.
4. In Argentina, Apache estimated that its 450,000-acre position in the Vaca Muerta oil shale has a net potential recoverable resource of 800 million Boe.
Apache's Chairman/CEO, G. Steven Farris, said, that the time to drill more wells is now. The company's drilling costs have come down and the company owns a very large resource base. Overall, he feels the company's portfolio is positioned to continue to deliver long-term growth and value to shareholders.
For an analyst ratings summary and ratings history on Apache Corp. click here. For more ratings news on Apache Corp. click here.
Shares of Apache Corp. closed at $86.01 yesterday, with a 52 week range of $73.04-$129.26.
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Analyst, William A. Featherston, highlighted the company's solid liquid-rich inventory.
Yesterday, the Apache Corp. issued a press release regarding it's liquid rich resource inventory and some highlights include:
1. Apache, the second-largest producer and acreage owner in the Permian Basin of West Texas and eastern New Mexico, has identified approximately 34,500 drillable locations with an estimated net resource of 3.8 billion barrels of oil equivalent (Boe).
2. In the Anadarko Basin in western Oklahoma and the Texas Panhandle, Apache has identified approximately 32,500 drillable locations primarily in the Granite Wash, Cleveland, Tonkawa and Marmaton formations with an estimated net resource of 5.4 billion Boe.
3. In northern British Columbia, Canada, Apache has validated an outstanding new shale play in the Liard Basin with net estimated sales gas of 48 trillion cubic feet of natural gas (8 billion Boe) across 430,000 acres held with a 100-percent working interest.
4. In Argentina, Apache estimated that its 450,000-acre position in the Vaca Muerta oil shale has a net potential recoverable resource of 800 million Boe.
Apache's Chairman/CEO, G. Steven Farris, said, that the time to drill more wells is now. The company's drilling costs have come down and the company owns a very large resource base. Overall, he feels the company's portfolio is positioned to continue to deliver long-term growth and value to shareholders.
For an analyst ratings summary and ratings history on Apache Corp. click here. For more ratings news on Apache Corp. click here.
Shares of Apache Corp. closed at $86.01 yesterday, with a 52 week range of $73.04-$129.26.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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