Oil prices were up on Tuesday as Washington agreed to delay the scheduled December 15th tariff hike on China. The impact of the OPEC+ production cut agreement on markets has also yet to wear off.

– The volume of natural gas that was vented or flared in the U.S. reached a record high 1.28 billion cubic feet per day (Bcf/d) in 2018.

– North Dakota and Texas alone accounted for 82 percent of all gas flared or vented.

– The pace of flaring surged by even more this year.

– Oil executives have referred to this problem as a “black eye” for the industry.

Market Movers

– Laredo Petroleum (NYSE: LPI) says it has closed a bolt-on acquisition of 4.475 contiguous net acres in Glasscock County, TX, for $65 million. LPI says the acquired acreage is located “in an area of high oil productivity with relevant offset wells indicating first year oil production 37% higher than expectations for legacy Laredo Wolfcamp drilling.”

– Kosmos Energy (NYSE: KOS) fell sharply on Monday, dragged down by the meltdown of Tullow Oil (LON: TLW). Tullow fell by 70 percent on Monday after reporting lower production guidance. Kosmos partners with Tullow in Ghana…CLICK for complete article