Earthstone Energy's $1.5B Acquisition, Boosting Production by 38000 Boepd.

Earthstone Energy, Inc. will acquire Novo Oil & Gas Holdings, LLC in a $1.5b deal, expanding its presence in the Delaware Basin and boosting production by over 38,000 Boepd. Northern Oil and Gas, Inc. will purchase a 33⅓% working interest in Novo's assets for $500m. The acquisition is expected to close in Q3 2023, funded by Earthstone's cash and borrowings from its revolving credit facility.