PDC Energy Inc., Denver, has agreed to acquire two privately held units managed by energy-focused privately equity firm Kimmeridge Energy Management Co. LLC, including 57,000 net acres in Reeves and Culberson counties in Texas, with average working interest of 93%, for $1.5 billion. Source: News

China National Offshore Oil Corp. Ltd. posted a net loss of ¥7.74 billion for the first 6 months of 2016 against a profit of ¥14.73 billion a year earlier. Source: News

Meridian Energy Group Inc., Irvine, Calif., has finalized a licensing agreement with a division of Axens SA, Rueil-Malmaison, France, for implementation of processing technology at the proposed 55,000-b/sd Davis refinery to be built in the heart of southwestern North Dakota’s Bakken shale region, near Belfield, in Billings County, ND. Source: News

The US Energy Information Administration estimates US crude oil stockpiles rose enough last week offset the previous week’s losses. Source: News

The light, sweet crude oil price for October delivery gained modestly to hover around $48/bbl Aug. 23 after reports that Iran has agreed to attend an informal meeting of the Organization of Petroleum Exporting Countries on the sidelines of an energy conference in Algeria late next month. Source: News

Statoil ASA said it has started production from the Fram C East well. Technology and improved drilling efficiency helped slash costs for the Norwegian North Sea development designed to maximize production from the Fram area and boost Troll C platform production. Source: News

Anadarko Petroleum Corp., Houston, has appointed Darrell Hollek as executive vice-president, operations, and Ernie Leyendecker as executive vice-president, international and deepwater exploration. Source: News