US independent Apache is raising its capital spending for the year after discovering what the company claims is a new onshore tight oil play on the southern edge of the Permian basin.
Houston-based Apache is adding $200 million to its spending plans this year, boosting its total capital spending to $2 billion.
The additional cash will be used to explore and further delineate its Alpine High play, where the company is tapping the Woodford and Barnett shales in southern Reeves County in Texas.
The
