All see below for this weeks energy and infrastructure news.

. Sandy Fielden writes an interesting post on the WTI-Brent spread and the movements it has made as of late and how LLS has tracked WTI rather than Brent (a negative sign for WTI producers). The final headline in our North American section is a bit ominous for the Permian area, but most reasonable people do not believe WTI will come down that far for a very long time. The formation of an MLP by Devon and Crosstex is big news around the industry this week, giving Devon control of an extensive pipeline network with associated facilities. North America: RBN Energy: Goodbye Stranger? Brent and WTI Take Separate Paths Again - The Brent premium to West Texas Intermediate (WTI) on Friday (October 18, 2013) was $9.14/Bbl indicating a new disconnect between US crude prices and international levels. - Unlike last time a big Brent premium to WTI opened up in 2010 the price of Light Louisiana Sweet at the Gulf Coast is still tracking with WTI rather than following Brent. CN Rail Cars Burning After Yesterdays Alberta Derailment - Bloomberg - The derailment of 13 CN cars, nine of which contain propane and four carrying crude, comes as regulators boost scrutiny of oil transport by rail in Canada and the U.S. Devon, Crosstex Form Midstream Company to Combine Assets - Bloomberg - The to-be-named entity will consist of a master-limited partnership and a general partner controlling it, both of which will be publicly traded, Devon and Crosstex said in a joint statement today. - Devon, which will control both of the partnerships and be the new companys largest customer, is contributing assets valued at $4.8 billion. The business will have about 7,300 miles (12,000 kilometers) of pipelines, 13 processing plants and six fractionators as well as storage, terminals and a trucking fleet to move oil and natural gas. Fuel Fix Nabors swings to loss on bond costs, write-downs - Nabors and other oil field-services companies have been hurt by sluggish drilling activity and too much competition in North America, which is driving down prices for the service companies. - Nabors Chairman and CEO Tony Petrello said based on contracts secured by his company he believes that the U.S. drilling market is stabilizing and the international market is at the beginning of an extended upswing. Oils $5 Trillion Permian Boom Threatened by $70 Crude - If oil drops another 18 percent to $80 a barrel, wells in some parts of the Permian that sprawls beneath Texas and New Mexico will become money-losers, said Tim Rezvan, an analyst at Sterne Agee & Leach Inc. in New York. South America: Total group to develop gas-condensate field off Argentina - Oil & Gas Journal - A group led by Total Austral SA, Buenos Aires, will develop Vega Pleyade gas-condensate field on the Cuenca Marina Austral-1 block offshore Argentine Tierra del Fuego. - Total holds a 37.5% interest in the block. Partners are Wintershall Energia SA 37.5% and Pan American Energy LLC 25%. Asia / Pacific: China Inc. Battles Big Oil for Centurys Biggest Find - Bloomberg

Cnooc Ltd. (883) and China National Petroleum Corp. are among companies registered to bid for what may become one of the worlds two largest deep-water fields, requiring an estimated $184 billion investment. Libra holds as much as 12 billion barrels, or three years of Chinas consumption, Brazils oil regulator estimates. Other bidders include Royal Dutch Shell Plc and Frances Total SA.

Africa: Ghanas Eurobonds Retreat as Deficit Target Raised: Accra Mover - Bloomberg - Ghanas Eurobonds dropped for the first time in six days, sending yields higher after Finance Minister Seth Terkper said rising wages and falling gold prices means the budget deficit will be more than initially forecast. Middle East: Hayward Says Completed Pipeline Turning Point for Kurdistan - The Kurdistan Regional Government has completed a 36-inch pipeline, Hayward, CEO of Genel Energy Plc, said in a telephone interview yesterday. The line has now been tied in and commissioning is taking place. This is a major inflection point for Kurdistan. Thanks,
Will Weston | Senior Business Analyst CBRE Energy | Infrastructure 3280 Peachtree Rd NE, Suite 1400 | Atlanta, GA 30305 T 404 812 5108 | C 504 756 0957 will.weston@cbre.com | www.cbre.com/infrastructure
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