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Brent and US crude oil prices appear to be ending the first full week of October with a loss following a strong September rally.

An affiliate of BKV Oil & Gas Capital Partners LP, Denver, has agreed to acquire Marcellus shale producing interests operated by Carrizo Oil & Gas Inc., Houston, in separate deals with Carrizo and Reliance Industries Ltd., Mumbai.

Based on a “lower-for-longer” base-case scenario, global oil prices will remain in the $50-60/bbl range until late 2020, due to increasing supply that breaks even at $50/bbl, according to to the most recent global oil supply and demand outlook from McKinsey Energy Insights (MEI).

US LNG exports could play an important role in several South American countries’ future energy strategies, speakers indicated during an Oct. 5 discussion at the Atlantic Council in Washington, DC. But the countries’ governments also will be working out where private entities might have larger roles in operations where state-run entities previously have been dominant, they added.

Some 1.2 million b/d of crude oil production from the US Gulf of Mexico has been shut-in by operators as they brace for Tropical Storm Nate’s passage.


FERC’s approval of ACP, Supply Header, MVP marks a milestone in the evolution of WV's natural gas industry. https://t.co/G3o2tSpBm4

WVONGA Statement Regarding FERC Approval for Atlantic Coast, Supply Header, Mountain Valley Pipeline Projects https://t.co/G3o2tSpBm4