Companies awarded 55 blocks in India’s first open-acreage licensing bid round collectively have committed to invest the equivalent of $820 million in exploration, Petroleum Minister Dharmendra Pradhan said at a contract-signing event in New Delhi. Source: News

The American Petroleum Institute and other leading US business organizations initially welcomed the US-Mexico-Canada Agreement, which the Trump administration said would improve terms for them under the 1994 North American Free Trade Agreement it apparently would replace. Business groups also have begun to analyze USMCA to determine whether it preserves investment protections and other important […]

The Timor-Leste government has agreed to acquire from ConocoPhillips the company’s 30% interest in the Greater Sunrise fields on the maritime border between Australia and East Timor for $350 million. Source: News

Husky Energy Inc. has proposed an unsolicited offer to acquire all shares of MEG Energy Corp. in a deal worth an estimated $3.3 billion (Can.). Both companies are based in Calgary. MEG Energy, which produces bitumen via steam-assisted gravity drainage in Alberta’s Athabasca region, said its directors “will consider and evaluate the Husky offer and […]

DJR Energy LLC, Denver, will acquire from Encana Oil & Gas (USA) Inc. its San Juan assets in New Mexico in a $480-million deal. The assets include 182,000 net acres that delivered average production of 5,400 boe/d, including 3,900 b/d of liquids, in 2017. Source: News

Light, sweet crude oil prices gained more than $1 to settle above $73/bbl on the New York market Sept. 28 while Brent crude oil for November gained $1 to approach $83/bbl in London. Oil prices rose amid concerns about falling Iranian crude exports with full implementation of US sanctions on Nov 4 along with concerns […]