Harbour Energy revises Santos bid

Santos Ltd., Adelaide, has received a binding, conditional proposal from Harbour Energy Australia Pty. Ltd., Perth, to acquire all of Santos shares by way of a scheme of arrangement.  Source: News


EIA: US crude stockpiles decrease 1.4 million bbl

US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased 1.4 million bbl for the week ended May 11, according to US Energy Information Administration data. Source: News


Australia details new offshore acreage release

The Australian government has released a total of 21 new blocks across six offshore basins around the country in its 2018 acreage release. There is also a rerelease of a further seven blocks not taken up in the 2017 program. Source: News


Lancaster EPS installation starts off UK

Hurricane Energy PLC, London, has started installation of an early production system for Lancaster oil field in the West of Shetland area offshore the UK.  Source: News


MARKET WATCH: Brent breaks above $80/bbl during May 17 trading

Brent crude oil for July delivery reached above $80/bbl during May 17 trading on the London market, its highest level since November 2014. The benchmark had settled May 16 above $79/bbl. Analysts forecast Brent would break the $80/bbl mark on growing Iran tensions.  Source: News