Synergy Resources Corp., Denver, has agreed to acquire 33,100 net acres in the Greeley Crescent area of Weld County, Colo., from Noble Energy Inc., Houston, for $505 million. The deal is effective Apr. 1 and expected to close as early as June. Source: News

Following a business review, Oil & Gas UK has reorganized into five teams from seven. The trade organization also said it streamlined the number of work groups it runs for its members by 40% to provide greater focus on industry priorities. Source: News

The US Pipeline & Hazardous Materials and Safety Administration issued a corrective action order requiring Texas Eastern Transmission LP to take necessary corrective actions following the failure of a gas pipeline on its Penn Jersey system. Source: News

Algeria faces economic management challenges equal to those of Nigeria and Iraq amid depressed global oil and gas prices, a speaker said during a discussion of Middle East and North African oil-exporting nations’ economic outlooks. Source: News

“Something has to give” in this languishing oil market, and one industry observer and his firm “are quite convinced that oil prices have to give quite a lot.” Source: News

About 88,000 residents of Fort McMurray in northern Alberta have been evacuated from a wildfire that has destroyed or damaged 1,600 structures. Alberta Premier Rachel Notley called the event the biggest evacuation in the history of the province. Source: News

The light, sweet crude price for June delivery rose modestly on the New York market May 4 to hold at nearly $43.80/bbl despite a growing US weekly crude oil inventory. Analyst attributed the price rise to concerns about tightening world supply because of threats to Canada’s and Libya’s oil exports. Source: News

A wildfire raging in the Regional Municipality of Wood Buffalo nearby Fort McMurray, Alta., has forced the mandatory evacuation of tens of thousands of people from the area and has caused many oil sands operators to cut production. Source: News

Mexico’s energy reforms will mean changes for international service companies as well as for oil and natural gas operators and investors, a May 3 panel of service company speakers told the Offshore Technology Conference in Houston. Source: News

DNO ASA, a Norwegian oil and gas operator controlled by RAK Petroleum PLC, reported it is using increased revenues for a drilling program at Tawke oil field in the Kurdistan region of Iraq, and executives said the company is on track toward increased profitability for 2016. Source: News