Royal Dutch Shell PLC confirmed it has signed a memorandum of understanding with state-owned National Iranian Oil Co. “to further explore areas of potential cooperation” but Shell declined to discuss likely fields or possible investment levels. Source: News

Gulfport Energy Corp., Oklahoma City, signed a definitive agreement with an unnamed third party to acquire 12,600 net undeveloped acres in northern Monroe County, Ohio, for $87 million. Source: News

Petroleos de Venezuela SA (PDVSA) reported signing two agreements with Shell Venezuela at Miraflores Palace in Caracas. Source: News

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, fell 2.4 million bbl during the week ended Dec. 2 compared with the previous week’s total, according to the US Energy Information Administration’s Petroleum Status Report. Source: News

Devon Energy Corp., Oklahoma City, reported that it increased its risked drilling inventory in the Delaware basin following a successful Leonard shale stacked spacing test in southeast New Mexico. Source: News

Energean Oil & Gas, Athens, has received Israeli government approval to acquire 100% interests in offshore Karish and Tanin natural gas fields and expects to start production in 2020. Source: News

The US light, sweet crude oil futures contract for January delivery dropped 86¢ to settle below $51/bbl in New York while the Brent crude oil price for February dropped about $1 to settle below $54/bbl on the London market on Dec. 6. Source: News