MARKET WATCH: NYMEX crude oil price settles above $49/bbl

Light, sweet crude oil for June delivery settled above $49/bbl May 17 after a weekly government report showed a decline in US oil production as well as a drop in the US oil supplies. The inventory dropped less than analysts had expected. Source: News

Miller to succeed Lesar as Halliburton CEO

Jeff Miller has been elected president and chief executive officer of Halliburton Co., effective June 1. He’s succeeding Dave Lesar, who’ll continue serving as executive chairman. Source: News

South America’s energy potential is still promising, House panel told

South America’s energy potential should not be neglected despite serious problems in Venezuela and corruption investigations in Brazil, witnesses told the US House Foreign Affairs Committee’s Western Hemisphere Subcommittee on May 17. Source: News

Mexico’s dry gas production declining

Mexico is experiencing a very tight natural gas market in part because its dry gas production is declining for lack of any onshore gas-directed drilling, Ross Wyeno, Platts Analytics senior energy analyst with S&P Global Platts, said May 17 during Benposium 2017 in Houston. Source: News

Southern Delaware basin to receive 3D survey

An area of mutual interest encompassing 1,100 sq miles of the Delaware basin will be imaged this year by the Coyanosa Survey, a joint venture of FairfieldNodal and Schlumberger Ltd. Source: News