Houston-based exploration and production startup Terra Energy Partners LLC has agreed to acquire WPX Energy Rocky Mountain LLC, a wholly owned subsidiary of WPX Energy Inc., Tulsa, for $910 million. The deal is expected to close in the second quarter. Source: News

Deep Gulf Energy III LLC has let a lump-sum contract to Technip for the development of South Santa Cruz and Barataria ultradeepwater fields in Mississippi Canyon offshore New Orleans in 2,000 m of water. Source: News

In its February Oil Market Report, the International Energy Agency warned that the short-term risk to the downside has increased, as the surplus of oil supply over demand in the early part of 2016 is even greater than forecast in last month’s OMR. Source: News

The US Environmental Protection Agency proposed giving refiners an additional 18 months to comply with portions of air emissions limits that the federal agency published in December 2015. Comments on the proposal, which appeared in the Feb. 9 Federal Register, will be accepted through Mar. 25. Source: News

Depressed natural gas prices now aren’t likely to affect future US LNG exports much because most projects won’t go into operation until 2020 when global markets have improved, speakers at an Atlantic Council (AC) forum agreed. Source: News