It’s nice to have one in the bag, especially when that discovery includes the most prolific shale test in North America.

Apache Corp. is estimating a net 48 Tcf in recoverable gas from its 430,000 acres in the Liard Basin, a geological natural gas treasure trove in northeast British Columbia that spills across the borders into the Northwest and Yukon territories.

Natural gas may be the wrong answer at the moment with prices below $3 per Mcf, stubbornly rising production, and nagging forecasts for a multiyear low-price environment, but Apache’s ...