Credit Suisse says no news from Apache on Suriname well likely seen as bad newsCredit Suisse analyst William Featherston said he believes a sizable discovery in Suriname is "more than baked in already" in Apache shares and he sees considerable downside risk if the Maka Central-1 well is later confirmed to be dry. Given his belief that expectations for this well are exceedingly high, he thinks "no news will likely be seen as bad news," as evidenced by today's pre-market selloff in the stock. He expects Apache will give its next update on the well in January given that drilling resumes in mid-December, added Featherston, who keeps a Neutral rating and $20 price target on Apache shares. |