Such is the case for this week's beagle, Apco Oil & Gas International. Apco stock slid 13 percent last week, and has tumbled more than 80 percent since Argentina, where the Tulsa company has much of its operations, seized assets of a Spanish energy company early this year.
Despite last week's announcement that Apco had generated higher profits on higher prices and higher production, the stock fell.
Thomas Bueno, Apco's chief operating officer, conceded “while the political and business environment in Argentina remains challenging, we are hopeful the situation will stabilize and the government will allow companies to focus on investing and finding hydrocarbons.”
Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) stocks by Business Writer Don Mecoy.