Transformation is underway in parts of the shale basins in the Lower 48 U.S. states following the discovery of a major oil play in Texas, Apache Corp. said. After more than two years of testing and research, the company said it confirmed a significant discovery on the southern part of the Delaware shale basin in Texas that it dubbed Alpine High. Apache said it estimates in-place reserves of around 75 trillion cubic feet of natural gas and 3 billion barrels of oil. John Christmann IV, the company’s president and chief executive officer, said developing Alpine High is a core component of its strategy to bring value to shareholders. “Our exploration success and financial results in the third quarter demonstrate the transformation that is taking place at Apache,” he […]