Northern Oil and Gas Inc. today announced that the borrowing base under its reserves-based revolving credit facility has been increased to $850.0 million from $725.0 million. Northern has chosen to increase the elected commitment amount to $750.0 million from $660.0 million. The 14 lender syndicate unanimously approved the increase, effective as of November 3, 2021. No material changes were made to the terms of the credit [...]
Northern Oil and Gas Inc. announced today that it plans to issue its earnings release with respect to third quarter 2021 financial and operating results on Friday, November 5, 2021, before the market opens. Additionally, the Company will host a conference call on Friday, November 5, 2021, at 10:00 a.m. Central Time. Those wishing to listen to the conference call may do so via phone or the Company's webcast. Conference [...]
Northern Oil and Gas Inc. : WILLISTON BASIN ACQUISITION Northern has entered into a definitive agreement to acquire non-operated interests across over 400 producing wellbores located primarily in Williams, McKenzie, Mountrail and Dunn Counties, ND for a purchase price of $154 million in cash, subject to typical closing adjustments. Northern expects to fund the acquisition with cash on hand, operating free cash flow and [...]
Northern Oil and Gas Inc. today announced the company's second quarter results. MANAGEMENT COMMENTS "This was one of the strongest operational and financial quarters on record for the Company," commented Nick O'Grady, Northern's Chief Executive Officer. "Year-to-date Northern has executed on several large bolt-on acquisitions and significantly improved its balance sheet. With the active management of our portfolio, we [...]
Northern Oil and Gas Inc. today announced that its Board of Directors has declared a cash dividend on the Company's common stock in the amount of $0.045 per share, representing a 50% increase from the prior quarterly dividend. The dividend is payable on October 29, 2021, to stockholders of record as of the close of business on September 30, 2021. Northern Oil and Gas Inc. is a company with a primary strategy of investing [...]
Northern Oil and Gas Inc. today announced its total proved reserves at June 30, 2021, increased 106% from year-end 2020 to 252.3 million barrels of oil equivalent with an associated PV-10 value of $1.69 billion at SEC Pricing. These amounts are calculated under SEC guidelines relating to both commodity price assumptions and a maximum five year drill schedule. "This reserve report highlights the strength of Northern's [...]
Registration is Open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado Institutional investors, portfolio managers, financial analysts, CIOs and other investment community professionals who invest in the energy space should register now for The Oil & Gas Conference® which will take place Aug. 15-18, 2021, at the Denver Downtown Westin hotel. The event is EnerCom's 26th annual Denver investment [...]
Northern Oil and Gas Inc. announced today that it plans to issue its earnings release with respect to second quarter 2021 financial and operating results on Thursday, August 5, 2021, before the market opens. Additionally, the Company will host a conference call on Thursday, August 5, 2021, at 10:00 a.m. Central Time. Those wishing to listen to the conference call may do so via phone or the Company's webcast. Conference [...]
Northern Oil and Gas Inc. announced today that it has priced its previously announced underwritten public offering of 5,000,000 shares of its common stock at a price to the public of $17.50 per share . The Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock. The Offering is expected to close on June 21, 2021, subject to the satisfaction of customary [...]
Northern Oil and Gas Inc. announced today that it has commenced an underwritten public offering of 5,000,000 shares of its common stock . The Company intends to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the [...]
Northern Oil and Gas Inc. : PERMIAN BASIN ACQUISITIONS Northern Oil and Gas Inc. announced today that it has entered into three definitive agreements to acquire non-operated interests across approximately 2,900 net acres located in the heart of Reeves County, Texas and Lea and Eddy Counties, New Mexico for a combined purchase price of $102.2 million. May 2021 production on the assets was approximately 2,200 Boe per day [...]
Northern Oil and Gas Inc. today announced the company's first quarter results. MANAGEMENT COMMENTS "The first quarter performance was above our internal expectations across all metrics as our core Williston & Permian properties continued to deliver," commented Nick O'Grady, Northern's Chief Executive Officer. "The Company generated $41.7 million of Free Cash Flow, approximately 6% of our total quarter end market [...]