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The light, sweet crude oil contract for August delivery reached its highest level since November 2014, settling above $74/bbl on the New York market June 29 while Brent crude oil for August delivery settled at nearly $80/bbl in London. 

Painted Pony Petroleum Ltd., Calgary, will increase 2017 drilling in
the Montney play of British Columbia to 71 wells and 64 completions from
its previously planned 58 wells and 51 completions after acquiring UGR
Blair Creek Ltd. in a $229.6-million (Can.) deal.

Light, sweet crude oil prices on the New York Mercantile Exchange fell nearly $1 as market participants awaited news of the path of Hurricane Harvey, expected to make landfall in Texas. Oil prices rose in early Aug. 25 trading.

Royal Dutch Shell PLC announced a series of transactions involving the sale of oil and gas assets in the UK North Sea and Thailand worth a total of nearly $5 billion.

The US Bureau of Ocean Energy Management released the final multi-sale environmental impact statement for Gulf of Mexico oil and gas lease sales it has scheduled for 2017-22. The 10 scheduled sales will be in BOEMs western and central planning areas and in part of its eastern planning area.

The US House of Representatives approved a Congressional Review Act resolution on Feb. 3 to rescind the US Bureau of Land Managements methane emissions limits for oil and gas activity on public and Indian tribal land by 221 to 191 votes. Three Democrats joined Republicans in support of the measure, while 11 Republicans voted with most of the Democrats against it.

Cenovus Energy Inc., Calgary, has agreed to acquire ConocoPhillips 50% interest in the companies jointly owned Foster Creek Christina Lake (FCCL) oil sands partnership as well as the majority of the Houston independents Deep basin conventional assets in Alberta and British Columbia for $13.3 billion, including $10.6 billion in cash and 208 million Cenovus common shares valued at $2.7 billion.

US commercial crude oil inventories, excluding those in the Strategic
Petroleum Reserve, declined 2.2 million bbl during the week ended Apr. 7
compared with the previous weeks total, according to the US Energy
Information Administrations Weekly Petroleum Status Report.

The light, sweet crude oil contract for January delivery settled above $57/bbl Nov. 29, dropping modestly before members of the Organization of Petroleum Exporting Countries met Nov. 30 in Vienna. Brent crude oil for January also fell but still settled above $63/bbl.

International Petroleum Corp. (IPC), Vancouver, BC, has closed its $675-million (Can.) acquisition of BlackPearl Resources Inc., Calgary. BlackPearl Pres. and Chief Executive Officer John Festival becomes an IPC director.