Investors could have picked just about any oil and gas stock in the past two years and made money, given the surge in commodity prices. One of the industry's most compelling outliers is APA Corp., a modest-size Houston company with a wide-ranging global footprint, Avi Salzman writes in this week's edition of Barron's. APA, with a market value of $12 billion, is now undertaking an ambitious project off the coast of South America at a time when most U.S. producers have stopped exploring for new oil developments, fearing excessive supply, the author adds.
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