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The Texas upstream oil and gas economy contracted in November for the 24^th consecutive month, according to the Texas Alliance of Energy Producers Texas Petro Index (TPI).

Royal Dutch Shell PLC has opted for a complete exit from the Woodside Petroleum Ltd. share register just hours after an initial agreement to sell 64% of its holdings.

The US Senate passed a Congressional Review Act resolution to revoke a Securities and Exchange Commission requirement for US oil and gas and other extractive industries to disclose payments to foreign governments by 52 to 47 votes. The Feb. 3 action along party lines sent H.J. Res. 41 to the White House for President Donald J. Trumps signature since the House passed the measure 2 days earlier.

A wholly owned subsidiary of Vancouver-based International Petroleum Corp. (IPC), the non-Norwegian spinoff of Lundin Petroleum AB, has agreed to acquire Cenovus Energy Inc.s interests in the Suffield and Alderson conventional oil and gas areas of southern Alberta for $512 million (Can.).

Northern Oil and Gas Inc., Minneapolis, has agreed to acquire from VEN Bakken LLC the companys Williston basin assets for $165 million in cash, a $130 million 6% 3-year senior unsecured note due 2022, and some 5.6 million shares of Northern common stock.

In its latest Short-Term Energy Outlook (STEO), the US Energy Information Administration has revised its 2019 price forecasts for Brent and West Texas Intermediate to $61/bbl and $54/bbl, respectively, which are both $11/bbl lower than forecast in the STEO for November.

Crude oil futures settlements were mixed Feb. 16 with US light, sweet crude oil price climbing slightly on the New York market while Brent crude oil prices fell on the London market.

US and Brent oil prices rose for a fifth consecutive day June 28,
which analysts attributed to a weekly US oil and product inventory
report showing an increase in the amount of crude oil in storage despite
the gain being less than what some had expected.

US crude oil inventories for the week ended Mar. 8, excluding the Strategic Petroleum Reserve, decreased 3.9 million bbl from the previous week, data from the US Energy Information Administration showed.

Eclipse Resources Corp. plans to spud its first well in the newly acquired Flat Castle project area this quarter. The acquisition of oil and gas interest on 44,500 net acres in Tioga and Potter counties, Pa., by Eclipse subsidiary Eclipse Resources-PA LP from Travis Peak Resources LLC closed on Jan. 18.