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BOEM proposes central Gulf of Mexico Lease Sale 235

The US Bureau of Ocean Energy Management (BOEM) has proposed Gulf of Mexico central planning area Lease Sale 235 for March 2015 in New Orleans. BOEM will make available 7,477 tracts covering 43.5 million acres offshore Louisiana, Mississippi, and Alabama.

Southwestern Energy to acquire Marcellus, Utica assets for $5.375 billion

Southwestern Energy Co., Houston, has agreed to acquire assets in the southern Marcellus shale and a portion of the eastern Utica shale in West Virginia from Chesapeake Energy Corp., Oklahoma City, for 5.375 billion.

MARKET WATCH: NYMEX crude oil price stabilizes awaiting inventory report

Crude oil prices fell only slightly on the New York market Oct. 15 after plunging the previous day. Brent crude oil prices fell by more than $1/bbl on Oct. 15, and the average for the Organization of Petroleum Exporting Countries basket dropped more than $3/bbl.

API, other groups see overreach in ESA critical habitat proposals

Federal proposals to amend portions of the Endangered Species Act would significantly reshape and further complicate the law’s critical habitat process, and unjustifiably expand two federal services’ authority to make such designations, the American Petroleum Institute and five other oil and gas industry associations said.

PNR head urges DOC to issue condensate export permits to others

The head of an independent oil and gas company that in late June received one of the first two federal approvals to export condensate urged the US Department of Commerce to begin issuing similar permits to other applicants.

AMP acquires Costar Midstream for $470 million

American Midstream Partners LP (AMP), Denver, has acquired Costar Midstream LLC from Energy Spectrum Partners VI LP and Costar management for $470 million. The deal closed Oct. 14.

Mountaineer Keystone adds Marcellus assets

Mountaineer Keystone Energy LLC, Pittsburgh, has completed the acquisition of equity interests in PDC Mountaineer LLC, a 50-50 joint venture PDC Energy Inc. and Lime Rock Partners LLC with interests in the Marcellus shale, for a total of $500 million.

Russia likely to remain important European gas supplier, report says

Europe’s natural gas supply mix likely won’t change much without drastic policy interventions despite recent renewed concern over instability in Ukraine, a new Brookings Institution policy brief concluded. This effectively will ensure a continuing significant market share for Russia, it said.

Statoil’s Lund to join BG Group as chief executive officer

BG Group has appointed Helge Lund as chief executive officer and as an executive director, effective Mar. 2, 2015. Lund has served as president and CEO of Statoil ASA since 2004.

MARKET WATCH: NYMEX, Brent oil futures plunge

Crude oil prices dipped by more than $3/bbl on both the New York and London markets Oct. 14, which analysts attributed to stagnant world oil demand growth. US light, sweet crude settled Oct. 14 under $82/bbl.

BLM Rock Springs office seeks comments on proposed gas project

The US Bureau of Land Management’s Rock Springs field office is seeking public comments on a proposal to develop up to 17 natural gas wells on as many as 5 well pads about 35 miles northwest of Baggs, Wyo., in Sweetwater County.

Study: EPA overlooks large methane sources

Methane inventories by the US Environmental Protection Agency, which underlie efforts to regulate emissions from hydraulic fracturing and other oil and gas work, overlook other, potentially larger sources of the greenhouse gas, a study by Los Alamos National Laboratory (LANL) suggests.

IEA reduces global oil demand forecast again on slower economic growth

The International Energy Agency’s Oil Market Report (OMR) for October continues to reduce its forecast of global oil demand for 2014 by 200,000 b/d from the previous month, to 92.4 million b/d, in line with lower expectations of economic growth and the weak recent trend.

Woodside farms into offshore Cameroon block

Woodside Petroleum Ltd., Perth, has farmed into the Tilapia production-sharing contract offshore Cameroon under an agreement with Glencore and Noble Energy Inc.

Northeast Australia gas line link contemplated

The Northern Territory government has put its weight behind a proposal to build an Alice Springs-to-Moomba natural gas pipeline. This would link the Northern Territory fields with the Moomba hub in South Australia that already has connections to Queensland, New South Wales, and (indirectly) Victoria.

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