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Apache Discovers 3-Billion Barrel Field in Texas Shale Country

Apache Corp Photographer: Patrick T. Fallon/Bloomberg

Apache Corp. said it made a “significant” discovery in a Texas shale formation that holds enough crude oil to supply every refinery on the U.S. Gulf Coast for a year.

The Alpine High discovery in West Texas contains an estimated 3 billion barrels of oil and 75 trillion cubic feet of natural gas, Apache said in a statement on Wednesday. The asset is in the Delaware...