Deals by Concho Resources target Delaware basin

Concho Resources Inc., Midland, Tex., has separately made three deals—an agreed upon acquisition, a completed acreage exchange, and an agreed upon sale—in an effort to improve its position in the southern Delaware basin. Source: News

Mubadala Petroleum, PEMEX sign MOU for Mexican energy development

Mubadala Petroleum, a wholly owned subsidiary of Mubadala Development Co., and Petroleos Mexicanos (PEMEX) have signed an memorandum of understanding to “provide the basis for discussions between the two companies and their affiliates about potential opportunities in Mexico’s energy sector.” Source: News

Chevron to sell more Gorgon LNG to China

Chevron Australia, operator of the Gorgon-Jansz LNG development off Western Australia, has signed a preliminary agreement with ENN LNG Trading Co. of China to supply LNG from the project beginning in 2018. Source: News

MARKET WATCH: Brent crude oil hovers under $29/bbl

The March contract for Brent crude oil on London’s ICE exchange dropped 39¢ to settle at $28.55/bbl on Jan. 18 after having dipped to a trading session low of $27.67/bbl. Analysts said the day’s low was Brent’s lowest price in nearly 13 years. Source: News

One killed, one injured in blast at Long Lake oil sands project

CNOOC Ltd.’s Canadian unit said investigations continue into the cause of an explosion at the 50,000-b/d Long Lake oil sands project in Fort McMurray, Alta. The oil processing plant remains closed indefinitely after the Jan. 15 blast killed one worker and injured another. Source: News