Earthstone Energy expands Midland basin position in merger

Earthstone Energy Inc., The Woodlands, Tex., has agreed to acquire all outstanding membership interests in Bold Energy III LLC, a Midland-based portfolio company of EnCap Investments LP. Source: News


EIA: Norway investment cuts affect exploration more than production

Total investment in oil and natural gas extraction in Norway was 21% lower in this year’ first half compared with first-half 2015, a decline of about 20.9 billion kroner. Investment cuts have affected exploration drilling more than production drilling, according to an analysis from the US Energy Information Administration. Source: News


OMV to divest UK subsidiary for $1 billion

OMV AG, Vienna, has agreed to sell all of the shares in its wholly owned subsidiary OMV (UK) Ltd. to Siccar Point Energy Ltd., Aberdeen, for $1 billion. Source: News


MARKET WATCH: NYMEX crude oil prices gain slightly before US general election

Crude oil prices rose slightly on the New York market Nov. 8 as voters went to the polls for the general election. Results later showed a victory for Republication presidential candidate Donald Trump, which contradicted the forecast of pre-election polls. Source: News