MARKET WATCH: NYMEX oil price climbs, natural gas price drops

Light, sweet crude oil prices continued gaining on the New York market on June 29 while US natural gas futures touched a 4-week high in early June 29 trading. Gas futures settled 5¢ lower than the previous day, ending a four-session gaining streak. Source: News

MEI: Offshore drilling has reached, neared bottom

London-based energy data and analytics firm McKinsey Energy Insights (MEI) has released its latest Offshore Drilling Market Outlook to 2030, saying activity appears to have reached or neared the bottom. Most of the drilling rig overhang from before 2015 has been removed, MEI said. Source: News

ConocoPhillips to exit Barnett shale

ConocoPhillips has agreed to sell its interests in the Barnett shale of North Texas to an affiliate of Miller Thomson & Partners LLC, Lafayette, La., for $305 million plus net customary adjustments. Source: News

Trump plans to nominate Glick as FERC member

US President Donald Trump intends to nominate Richard Glick, presently general counsel for the US Senate Energy and Natural Resources Committee, as a Federal Energy Regulatory Commission member, the White House announced on June 28. Source: News

Ireland bans hydraulic fracturing

Ireland is set to ban hydraulic fracturing of onshore oil and gas wells, joining France, Germany, and Bulgaria in prohibiting the completion method. Source: News