The Trump administration kicks off the new year with efforts to open up US coastal waters for new drilling. The proposed National OCS Program would make new acreage available for lease as early as 2020 through 2024, including areas in the Atlantic, Pacific and Arctic. What will it take for offshore operators to invest the large capital required to develop offshore frontier plays? Onshore, SM Energy sells a portion of its Powder River Basin assets in a move to pay down debt and maintain focus on its Texas operations. Other stories this week include: Schlumberger and Weatherford call off OneStim joint venture; Venado acquires Cabot's Eagle Ford assets for $765 million; Permian midstream deal flow off to a hot start in 2018; and Historic cold sets the stage for a record-breaking draw from natural gas storage.