NOG Announces Closing of Williston Basin Bolt-on Acquisition

Northern Oil and Gas, Inc. (NYSE: NOG) (NOG) today announced the closing of its previously announced acquisition of non-operated Williston Basin assets from a private seller.

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Monday, August 15, 2022
Information
Tags: 
Energy, Natural Resources, Mining, Minerals, Oil, Gas, Oil, Acquisition, NYSE, NOG
Geotags: 
MINNESOTA, UNITED STATES, NORTH AMERICA
Stock Symbol: 
NYSE:NOG
Summary
Key Points: 
  • Northern Oil and Gas, Inc. (NYSE: NOG) (NOG) today announced the closing of its previously announced acquisition of non-operated Williston Basin assets from a private seller.
  • NOG continues to execute as the natural consolidator of non-operated properties, commented Nick OGrady, NOGs Chief Executive Officer.
  • NOG closed the Williston Basin acquisition on August 15, 2022.
  • The closing cash settlement is net of preliminary and customary purchase price adjustments and remains subject to final post-closing settlement between NOG and the seller.


Northern Oil and Gas, Inc. (NYSE: NOG) (“NOG”) today announced the closing of its previously announced acquisition of non-operated Williston Basin assets from a private seller.

MANAGEMENT COMMENT

“NOG continues to execute as the natural consolidator of non-operated properties,” commented Nick O’Grady, NOG’s Chief Executive Officer. “This cash-generating, inventory-rich acquisition remains consistent with our mission to build a diversified, national franchise focused on return on capital, low leverage and with robust, growing shareholder returns.”

WILLISTON BASIN ACQUISITION

NOG closed the Williston Basin acquisition on August 15, 2022. The closing settlement was $158.0 million in cash, which includes a $17.0 million deposit paid at signing in June 2022. The closing cash settlement is net of preliminary and customary purchase price adjustments and remains subject to final post-closing settlement between NOG and the seller. Additional information regarding this previously announced acquisition can be found in NOG’s prior press release announcing the transaction, available here.

ABOUT NOG

NOG is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States. More information about NOG can be found at www.NorthernOil.com.

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