NOG Announces Expansion of Revolving Credit Facility
Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced the completion of its semi-annual borrowing base redetermination under its reserves-based revolving credit facility (the “Facility”).
- Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced the completion of its semi-annual borrowing base redetermination under its reserves-based revolving credit facility (the “Facility”).
- In connection with the redetermination, NOG entered into an amendment to the Facility that leaves the borrowing base unchanged at $1.8 billion and increases the elected commitment amount to $1.5 billion (from $1.25 billion).
- In addition, JP Morgan Chase Bank, Mizuho Bank and Comerica Bank have joined as new members of the Facility’s lending syndicate.
- Our massive liquidity advantage continues to expand versus our non-operated peers providing us with an ever-increasing competitive advantage.”