The assets under sales consideration include Novo Oil & Gas Holdings, and Forge Energy II. Novo Oil & Gas LLC, focused in the Permian’s Delaware Basin, was estimated by Enverus last year to hold fewer than five years of higher-quality inventory at sub-$45 oil, with sources estimating the company’s valuation at more than $2 billion. It holds around 17,000 net acres with an estimated production rate of 60,000 boepd.
