Oil output will rise next month, but at its lowest level since late 2016—according to the U.S. Energy Information Administration. Output from seven major U.S. shale formations is expected to rise to 7.6 MMbbl/d. The Permian is expected to rise 31,000 bbl/d while the Haynesville—the smallest of the seven plays—is expected to be unchanged at 43,000 bbl/d. Meanwhile, U.S. natural gas production is projected to be a record 73.1 Bcf per day in October. The EIA expects gas output to increase in all of the big shale basins next month.

Tall City Exploration is back with a new private equity backer and the same goal—Permian Basin A&D. This week, Tall City Exploration III said it received a line of equity financing of up to $500 million from funds affiliated with New York-based private equity firm Warburg Pincus. The company said it plans to continue its pursuit of play extension and acquire-and-exploit opportunities throughout the Permian Basin.

Mexico’s incoming government has begun its promised review of oil contracts, starting with a major project won by a consortium led by U.S.-based Talos Energy, the country’s next energy minister said. President-elect Andres Manuel Lopez Obrador vowed during the campaign to review all oil contracts awarded under his predecessor for signs of corruption. Sierra Oil & Gas CEO  Ivan Sandrea welcomed the review telling Reuters, “They should check everything. I’m most interested that they clear up all of their thoughts that there was manipulation.” Sierra holds a 45% stake in the project.

Finally, Germany’s gas market is open to all participants, a government spokeswoman said this week after a newspaper reported that U.S. firms expect to start delivering LNG to Germany in four years at the latest. Deputy U.S. Energy Secretary Dan Brouillette told Bild that LNG deliveries from U-S- companies would challenge Russia, which now accounts for 60% of German gas imports.