There is provided a valve apparatus for disposition within a wellbore that is disposed within a subterranean formation, wherein the valve apparatus includes a housing including: (a) an outermost surface, (b) a fluid passage defined within the housing, (c) a port extending through the housing for effecting fluid communication between the reservoir and the fluid passage, (d) a first groove disposed on the outermost surface and defining a first fluid channel, for conducting reservoir fluid to the port, and extending from an outermost surface portion of the outermost surface to the port, wherein the minimum distance between the outermost surface portion and the port is at least two (2) inches, and a closure member displaceable relative to the port for effecting opening and closing of the port.