Novo Oil & Gas announced the launch of Novo Oil & Gas Holdings II, LLC with an equity capital commitment from EnCap Investments. The new upstream energy company will focus on the pursuit of proven, liquids-rich unconventional assets in the Permian Basin, with a particular focus in the Delaware Basin. Novo II intends to pursue both operated and non-operated mineral positions.
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Earthstone Energy Announces $1.0 Billion Delaware Basin Acquisition
Earthstone Energy, Inc. announced that it has entered into an agreement to acquire Novo Oil & Gas Holdings, LLC, a privately-held Delaware Basin focused E&P company backed by EnCap Investments L.P., for $1.5 billion.