Apco shares have been a long slide since the Argentina government in May seized assets of a Spanish energy company, and the congress there declared that the oil and gas sector in Argentina was a matter of public interest.
The Argentine president granted increased control of the energy industry to his own government, assured his countrymen that oil and gas prices would be reasonable and required energy companies to submit their capital spending budgets for government approval.
Apco CEO Ralph Hill said in August it would take some time to see how that situation worked out. So far, it hasn't been good for Apco stock.
Eagle & Beagle is a weekly look at the state's high-performing (eagle) low-performing (beagle) stocks by Business Writer Don Mecoy.
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