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• Earthstone Buys EnCap-Backed Delaware E&P in $1B Deal
  Earthstone Energy Inc. is expanding its position in the northern...
  Earthstone Energy Inc. is expanding its position in the northern Delaware Basin with a $1 billion deal to acquire Novo Oil & Gas.
  
  Northern Oil & Gas Inc. simultaneously announced it will acquire a 33.33% undivided stake in the Novo assets in partnership with Earthstone.
  
  For Earthstone, the acquisition of Novo Oil & Gas Holdings, a private E&P backed by EnCap Investments LP, will add around 11,300 net acres in Eddy County, New Mexico, and Culberson County, Texas, to the E&P’s footprint, the company announced June 15.
  
  Earthstone’s Delaware acreage position will grow to approximately 56,000 net acres after the deal closes, which is expected to occur during the third quarter.
  
  
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• Marketed: 14 Well Package in Oklahoma Owned by an Undisclosed Seller
  An undisclosed seller (Seller) is offering for sale a 14-well package with producing MI/RI and non-producing...
  An undisclosed seller (Seller) is offering for sale a 14-well package with producing MI/RI and non-producing minerals in McClain County, Oklahoma. Lot# 106124 includes 87.07 net mineral acres, with 51.10 of those being net-producing mineral acres and the remaining 35.97 acres being non-producing. There are 14 producing wells with a ranged RI of 0.10265% to 0.000303%. The lot includes a 6-month average 8/8ths production of 1,554 bbl/d and 5,405 Mcf/d, a 6-month average net production of 0.33 bbl/d and 1.08 Mcf/d, and a 3-month average net income of $1,023/month. The seller has retained EnergyNet as their exclusive advisor relating to the transaction.
  
  Bids for Lot# 106124 are due on June 20 at 2:20 p.m. CDT. For complete due diligence information on this property, please visit http://www.energynet.com or email Emily McGinley, Director, at Emily.McGinley@energynet.com.
  
  
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• US gas production growth defies Northeast pipeline hurdles
  Pipeline infrastructure bottlenecks in the Northeast are constraining gas production growth in the Marcellus...
  Pipeline infrastructure bottlenecks in the Northeast are constraining gas production growth in the Marcellus and Utica regions, said Macquarie Energy managing director Kevin Little at the 2023 LDC Gas Forum Northeast in Boston. Nevertheless, Little emphasized that the broader US gas market remains resilient, with private players and increased activity in non-core areas such as the Dorado in the Eagle Ford Shale driving robust growth.
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• ☕️What Else is Brewing
  Twitter got sued by music publishers claiming 1,700 copyrighted songs are widely available on the platform....
  Twitter got sued by music publishers claiming 1,700 copyrighted songs are widely available on the platform. The suit seeks $250+ million in damages.
  
  A jury awarded $25.6 million to an ex-Starbucks regional manager who claimed she was fired for being white in the aftermath of the arrest of two Black men at a Philadelphia location.
  
  Diablo IV scored more than $666 million in global sales in just five days. Activision Blizzard revealed the news about the game becoming the fastest-selling ever for its Blizzard subsidiary one day after a judge temporarily blocked Microsoft’s planned purchase of the company.
  
  The Southern Baptist Convention refused to allow a pair of congregations with women pastors back into the fold, including the California megachurch Saddleback Church.
  
  Netflix wants to get you off your couch for a change: It’s opening a pop-up restaurant in LA with chefs from hits like Nailed It! and Chef’s Table.
  
  
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• The EU wants to break up Google’s ad tech business
  Two years after opening a probe into whether Google unlawfully boosted its own ad tech over others, the...
  Two years after opening a probe into whether Google unlawfully boosted its own ad tech over others, the EU finally slapped the company with a formal antitrust complaint yesterday, accusing it of abusing its position. The complaint is a doozy; it suggests that Google will likely need to sell off parts of the business to resolve its “inherent conflicts of interest” in digital advertising. Expect a lengthy legal battle: Online ads provided 80% of Alphabet’s $280 billion annual revenue last year.
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