DNO ASA has agreed to buy Origo Exploration Holding AS, a private exploration firm focused offshore Norway and the UK. Origo will be renamed DNO Norge AS. Source: News

Benchmark crude oil futures dropped more than $2 on markets in New York and London on May 4 as US light, sweet crude oil prices reached a 5-month low following government reports earlier in the week that estimated a smaller-than-expected decline in crude oil supplies and growing gasoline supplies. Source: News

Royal Dutch Shell PLC reported earnings on a current cost of supply basis, excluding identified items, of $3.86 billion, up $2.23 billion from first-quarter 2016. The Anglo-Dutch firm says the big increase is mainly driven by higher contributions from its upstream and chemicals business, partly offset by higher net interest expense. Source: News

Multiple process safety management gaps led to a Feb. 18, 2015, explosion of the fluid catalytic cracker at ExxonMobil Corp.’s 149,500-b/d Torrance, Calif., refinery, the US Chemical Safety Board said in a final report it issued on May 3. Source: News

Swift Energy Co., Houston, will change its name to SilverBow Resources Inc., effective May 5, and double its capital budget for 2017 as it expands drilling in the Eagle Ford shale of South Texas. Source: News