The Norwegian Ministry of Petroleum and Energy has awarded 10 licenses consisting of 40 blocks on Norwegian continental shelf. Three of the licenses are in the Barents Sea southeast, outside the county of Finnmark. In all, 13 companies are offered participating interest. Source: News

Raymond Schlaff has been named senior vice-president and chief procurement officer of Wood Group, Houston, responsible for procurement strategies, processes, and governance. Source: News

US commercial crude oil inventories, excluding the Strategic Petroleum Reserve, increased 1.3 million bbl for the week ended May 13 compared with the previous week, the US Energy Information Administration said, estimating the latest total at 541.3 million bbl. Source: News

Teal Natural Resources LLC has been formed to acquire and develop unconventional oil and gas resources, mainly in the Eagle Ford shale play of Texas. Source: News

Brent crude oil prices on the London market closed above $49/bbl on May 17 and continued reaching toward $50/bbl during May 18 trading while US light, sweet crude prices on the New York market hovered above $48/bbl in advance of a weekly government inventory report. Source: News

Continental Resources Inc.’s Verona 1-23-14XH flowed 2,345 bo/d and 6 MMcfd of natural gas in an initial 24-hr test, the company reported. The Verona well is producing from the Meramec reservoir through a 9,700-ft lateral at a casing pressure of 2,400 psi on a 34/64-in. choke. Source: News

Shell Midstream Partners LP (SMP), Houston, has agreed to acquire additional equity interests in Zydeco Pipeline Co. LLC, Bengal Pipeline Co. LLC, and Colonial Pipeline Co. from Shell Pipeline Co. LP, a wholly owned subsidiary of Royal Dutch Shell PLC, for $700 million. Source: News