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Apache has made the largest discovery in 20 years off the coast of Western Australia from where around 300 million barrels of oil could be extracted.
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The firm currently has a $118.00 price target on the stock. Alembic Global Advisors' target price indicates a potential upside of 18.87% from the stock's previous close.
Apache was the target of some unusual options trading activity on Monday. Stock investors acquired 4,860 put options on the stock, Stock Ratings News reports.
Apache Corp said on Monday it had made an oil discovery off the coast of Western Australia, pointing to possibly as much as 300 million barrels of oil in place in what could be a commercially viable new oil province.
In its recent 13F filing with the U.S. Securities and Exchange Commission, the hedge fund reported its equity portfolio, which contains 65 positions, for the second quarter of 2014.
It's not just oil and natural gas that comes out of the ground here. For every barrel of oil pumped to the surface, more than another barrel of water from deep within the earth comes up alongside it.
Apache Corporation announced the appointment of Gary T. Clark to the role of vice president of Investor Relations.
William "Bill" Byron Henderson, 58 currently of Fayetteville, AR passed suddenly while working in Karama Egypt on August 6th 2014.
Updated: Thu Aug 28, 2014 10:52 am
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