American Oil and Gas Reporter - January 2019 - 21

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IndustryDigest
1.1 MMbbld/ in 2019.
IEA says its November Report
incorporates the International Monetary
Fund's latest outlook, in which it
revised world economic growth
forecasts from 3.9 percent to 3.7 percent
for both 2018 and 2019. While slower
economic growth in some countries
reduces the outlook for oil demand, the
agency points out a significant
downward revision in price assumptions
is supportive. The November Report
uses a Brent futures price curve
averaging $73.10/bbl in 2018 and
$72.20/bbl in 2019. With the prices
$1.70/bbl and $9.75/bbl lower for 2018
and 2019, respectively, IEA says in
theory those reductions could add
40,000 bbl/d to demand in 2018 and
235,000 bbl/d in 2019. r

those parcels are 166 that were removed
from the state's December sale. Again,
BLM says, the sale announcement
commenced a 30-day comment period
to comply with Bush's order.
On Dec. 10, BLM published final
environmental impact statements and
proposed amendments to its resource
management plans addressing greater
sage grouse conservation for Wyoming,
Colorado, Idaho, Oregon, Utah, Nevada

and northeastern California (see story
page 119). r

EPA, STRONGER MOU
Emphasizes Teamwork
WASHINGTON-The U.S.
Environmental Protection Agency has
entered into a memorandum of
understanding with the State Review

March Lease Sales Will
Include Deferred Acreage
The U.S. Bureau of Land
Management intends to offer nearly
800,000 acres across four states for oil
and gas leasing this spring that
includes acreage pulled from planned
December sales following an adverse
federal court ruling.
In late September, U.S. Chief
Magistrate Judge Ronald E. Bush in the
U.S. District Court for the District of
Idaho ordered BLM to return to
Obama-era guidance for public
participation in lease sales involving
sage grouse habitat in a lawsuit brought
by the Western Watersheds Project and
the Center for Biological Diversity
(AOGR, November 2018, pg. 18).
As a consequence, BLM delayed
some December quarterly lease sales
and rescinded others.
On Nov. 20, BLM's Billings, Mt.,
office announced it would offer 322
parcels totaling 180,366 acres in
Montana, North Dakota and South
Dakota at its March 2019 quarterly lease
sale. Included in that acreage, BLM says,
are 76 parcels removed from its
December quarterly sale. The Nov. 20
announcement commenced a 30-day
public comment period on the associated
environmental assessment, BLM notes,
to comply with Judge Bush's order.
Then on Nov. 29, BLM's Ely, Nv.,
office announced it was offering 291
parcels totaling 604,164 acres in
Nevada's March quarterly sale. Among

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American Oil and Gas Reporter - January 2019

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