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MARKET WATCH: Brent crude for November climbs above $64/bbl

Brent crude oil for November delivery climbed above $64/bbl Sept. 19 on the London market while light, sweet crude oil for November held above $58/bbl in New York.

GAO report urges BLM to increase bonds for onshore federal leases

The US Bureau of Land Management should increase bond amounts for federal onshore oil and gas leases that have not been adjusted to account for inflation since the 1950s and 1960s, the US Government Accountability Office recommended in a new report.

Trump to revoke California’s auto air emissions authority

US President Donald Trump announced on Sept. 18 that his administration will revoke California’s federal authority allowing it to set its own automobile emissions limits.

Mitsui puts BassGas project stake on the market

Japan’s Mitsui & Co. has put its 35% interest in the BassGas project in the Bass basin off northern Tasmania up for sale. The announcement follows close on the heels of ExxonMobil’s move to test the market for sale of its offshore Gippsland basin fields.

Alta Mesa Resources files for bankruptcy

Alta Mesa Resources Inc., Houston, has filed for voluntary financial restructuring under bankruptcy. The action does not affect its midstream affiliate, Kingfisher Midstream LLC.

MARKET WATCH: Oil price benchmarks drop on Saudi reassurances

Crude oil benchmark prices fell about $1/bbl Sept. 18 in New York and London after Saudi Energy Minister Prince Abdulaziz bin Salman Arabia said he expects full oil production will be restored following damage inflicted by an unmanned aircraft attack.

ExxonMobil to sell share in upstream assets in Australia’s Gippsland basin

ExxonMobil Corp. is looking to sell its 50% stake in the Gippsland basin oil and gas development in Australia’s Bass Strait as part of a broader review of its portfolio of assets around the world.

Saudi officials see early supply recovery

Saudi Arabia’s oil production will recover faster than initially feared from damage inflicted by unmanned aircraft Sept. 14 to the Abqaiq crude oil processing complex and Khurais oil field, Saudi officials say.

Murkowski calls for DOE to monitor IMO 2020 implementation impacts

US Sen. Lisa Murkowski, chair of the Senate Energy and Natural Resources Committee, has recommended that the Department of Energy monitor impacts as the country implements the International Maritime Organization’s stricter sulfur limits starting Jan. 1.

EIA: US crude inventories up 1.1 million bbl

US crude oil inventories for the week ended Sept. 13, excluding the Strategic Petroleum Reserve, increased 1.1 million bbl from the previous week, according to data from the US Energy Information Administration.

Harris named E&P executive vice-president at Devon

David Harris has been promoted to executive vice-president, exploration and production, at Devon Energy Corp. He succeeds Tony Vaughn who will retire after 20 years of service with the company.

US House bill introduced to raise federal onshore leasing bonds

US Rep. Alan Lowenthal (D-Calif.) introduced a bill that would increase bonds that oil and gas developers must post before being allowed to drill on federal onshore public lands.

MARKET WATCH: NYMEX drops under $60/bbl, Brent under $65/bbl

Light, sweet crude prices dropped more than $3/bbl in New York and Brent fell more than $4/bbl in London Sept. 17 after Saudi Arabia said it has already restored some crude oil production that was lost to attacks on a processing complex and an oil field.

DOE to invest in offshore enhanced oil recovery R&D projects

The US Department of Energy will invest nearly $9 million in three offshore enhanced oil recovery research and development projects, DOE’s Fossil Energy Office reported.