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Centennial Resource Development Inc. has agreed to buy 11,860 net acres in Lea County of southern New Mexico, directly north of the Red Hills area, from fellow Denver firm GMT Exploration Co. for $350 million in cash.

US light, sweet crude oil futures fell modestly May 1 to settle just below $49/bbl, which analysts attributed to falling gasoline prices and concerns about rising US oil production adding to an already oversupplied world crude oil market.

Mexico has implemented government regulations to advance its energy reforms regardless of the oil-price slump, Aldo Flores Quiroga, Mexico’s deputy secretary of energy for hydrocarbons, said during a May 1 speech at the Offshore Technology Conference in Houston.

US Interior Sec. Ryan Zinke signed a pair of orders on May 1 that implement President Donald Trump’s Apr. 28 offshore oil and gas executive order, and create a new position—Counselor to the Secretary for Energy Policy—to coordinate Interior’s energy portfolio that spans 9 of DOI’s 10 bureaus.

US President Donald Trump has nominated David L. Bernhardt as deputy secretary of the Department of the Interior. Bernhardt has worked at Interior as its highest ranking legal officer and in other capacities during George W. Bush’s presidency. In that capacity, Bernhardt will be the department’s chief operating officer, once the US Senate confirms his nomination.

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