Exploration Giant Sees Stock Price Plunge On Disappointing Results

Investors who had risked much on Apache Corporation (NYSE: APA), holding out hope for a major payday in Suriname were disappointed on Monday as the company’s stock tumbled 13% to hit $19.36 per share. Just one month ago, Apache’s share price was above $24. Investors were banking on the risky yet plausible notion that Apache might score bigtime with its drilling prospects offshore Suriname; after all, its larger rival, Exxon, struck oil several times over right across the border in Guyana with its luscious Stabroek discoveries. Apache…