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The light, sweet crude oil contract for August delivery fell $1.20 on the New York market July 5 to settle just under $73/bbl while Brent crude oil for September delivery fell 85¢ on the London market to hold above $77/bbl.

Mike Reger, founder and CEO of Northern Oil and Gas Inc., Minneapolis, and Brandon Elliott, president, have agreed to realign responsibilities and swap titles.

Diversified Gas & Oil PLC, Birmingham, Ala., expects to close late this month on a $575 million, cash acquisition of 2.5 million net producing acres in Kentucky, West Virginia, and Virginia from EQT Corp., Pittsburgh.

The US drilling rig count reached 1,052 units working for the week ended July 6, up 5 rigs from a week ago, according to Baker Hughes data. The count is up 100 units from this time a year ago when the count stood at 952.

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RT @energizeWV: Check out @InsideShale Tuesday at 8am to learn about EPA’s effort to overturn the Waters of the US Rule; the scope and scal…