Northern Oil and Gas Inc. announced today that it has entered into a definitive agreement with W Energy Partners for the largest acquisition in Northern’s history. At closing, the acquisition will represent approximately 6,750 barrels of oil equivalent per day of production and 10,600 net acres in the core of the Williston Basin. Total consideration at closing will consist of $100 million in cash and 56.37 million [...]
Northern Oil and Gas Inc. today announced that it has entered into a definitive agreement to acquire significant production in North Dakota, currently producing over 4,100 barrels of oil equivalent per day. The asset, primarily a large package of producing wells, is being acquired from Pivotal Petroleum Partners , a portfolio company of funds managed by Tailwater Capital LLC. Total consideration at closing will consist of [...]
Northern Oil and Gas Inc. today announced that it has entered into an additional independent, separately negotiated exchange agreement with an institutional holder of its 8% senior unsecured notes due 2020 . The agreement represents a debt reduction of $9,943,000 par value of Notes. Through this and other recently announced exchanges, Northern has now entered into agreements to retire $63,700,000 of its remaining Notes [...]
Northern Oil and Gas Inc. today announced it is realigning executive job responsibilities in an effort to optimize the daily management of the company and better position the company to capitalize on growth opportunities. Mike Reger, Northern’s founder and current CEO, will assume the title of President, effective July 5, 2018, and will focus his extensive knowledge of the Williston Basin solely on acquisition [...]
Northern Oil and Gas Inc. today announced that it has entered into a definitive agreement to acquire producing assets in the Williston Basin of North Dakota. Separately, Northern has entered into another negotiated exchange agreement with an institutional holder of its 8% senior unsecured notes due 2020 . HIGHLIGHTS Acquisition includes current estimated production of 165 barrels of oil equivalent per day and over 1,900 [...]
Northern Oil and Gas Inc. today announced that it has entered into two additional independent, separately negotiated exchange agreements with institutional holders of its 8% senior unsecured notes due 2020 . Together the new agreements represent a debt reduction of $22,807,000 par value of Notes. Combined with the exchange transactions announced last week, Northern has now entered into agreements to retire $43,757,000 of [...]
Northern Oil and Gas Inc. today announced that it has entered into two independent, separately negotiated exchange agreements with institutional holders of its 8% senior unsecured notes due 2020 . Together the agreements represent a debt reduction of $20,950,000 par value of Notes. In the first exchange for the Notes, for $18,000,000 of par value, Northern will issue 6.53 million shares of common stock to the Investor. In [...]
Northern Oil and Gas Inc. today announced that it has closed on the Salt Creek Oil & Gas, LLC acquisition with a combination of cash and stock. Information regarding this previously announced acquisition can be found at: www.NorthernOil.com/saltcreekannouncement. MANAGEMENT COMMENT “The wells associated with this premier asset continue to be as good, or better, than originally modeled, and drilling proposals for new [...]
Northern Oil and Gas Inc. today announced that Roy “Ernie” Easley, Senior Vice President – Exploration and Development of CH4 Energy, has been appointed to Northern’s board of directors. “The entire board joins me in welcoming Ernie to Northern’s board of directors,” commented Northern’s Chairman, Bahram Akradi. “Ernie brings 38 years of extensive oil and gas [...]
The Board of Directors of Northern Oil and Gas Inc. is pleased to announce the hiring of Michael Reger as Chief Executive Officer and Nicholas O’Grady as Chief Financial Officer, and certain other title changes resulting in the following senior executive team. Michael Reger, Chief Executive Officer Nicholas O’Grady, Chief Financial Officer Brandon Elliott, President and Chief Operating Officer Erik Romslo [...]
Northern Oil and Gas Inc. today announced that it has completed its previously announced exchange transaction with certain holders of its 8% senior unsecured notes, including the requirement to raise an additional $140 million of new equity capital. HIGHLIGHTS OF THE TRANSACTION $497 million of existing senior unsecured notes has been exchanged for approximately $344 million of senior secured notes due 2023 and $155 [...]
Northern Oil and Gas Inc. today announced the voting results from its special meeting of shareholders held on May 8, 2018. The special meeting was called to seek shareholder approval of proposals in connection with Northern’s previously announced bond exchange agreement and related transactions . At the special meeting, Northern’s shareholders voted to approve all proposals, including the issuance of shares in [...]
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