Oil prices started the week slightly higher, but fell on Tuesday after U.S. Secretary of State Pompeo said that Washington is ready to negotiate the Iran missile program
Chart of the WeekArgentina’s natural gas production from shale has climbed significantly in the last few years, driven by increased drilling in the Vaca Muerta shale.Production from the Vaca Muerta surpassed 1 billion cubic feet per day (Bcf/d) at the end of 2018.Higher production has allowed Argentina to resume gas exports. Argentina’s first LNG shipment departed in June.
Market MoversEnergy Transfer Partners (NYSE: ETP) is considering the sale of its 33 percent stake in the Rover Pipeline, which carries natural gas from the Marcellus shale to the U.S. Midwest. The sale could be worth as much as $2.5 billion.
Analysts and investors panned the Callon-Carrizo deal (more below). Callon Petroleum’s (NYSE: CPE) share price plunged by 15 percent on the news.American Electric Power (NYSE: AEP) says it will buy three wind projects in Oklahoma at a cost of $2 billion. AEP says it will save ratepayers $3 billion.
Tuesday July 16, 2019
Oil prices started off the week on a quiet note, but retreated on Tuesday afternoon after Secretary of State Mike Pompeo said that Iran is ready to negotiate its missile program.