Northern Oil and Gas Inc. today announced two acquisition transactions. has entered into a definitive agreement with a private party to acquire non-operated interests across ~3,000 net acres located primarily in Lea and Eddy Counties, New Mexico. NOG owns existing interests in approximately 90% of the leasehold. Current production is ~2,800 Boe per day . NOG expects 2024 production to average ~2,500 Boe per day but [...]
Northern Oil and Gas Inc. today announced the Company's third quarter results. MANAGEMENT COMMENTS "NOG registered a banner third quarter reflecting continued strength in our operations, record organic growth and acquisition success. We have entered into harvest mode, generating increased free cash flow, but continue to pursue accretive acquisitions," commented Nick O'Grady, NOG's Chief Executive Officer. "NOG's recent [...]
Northern Oil and Gas Inc. today announced that its Board of Directors has declared a cash dividend on the Company's common stock. The Company also announced its current plan with respect to quarterly dividends for 2024. DIVIDEND DECLARATION NOG's Board of Directors has declared a cash dividend in the amount of $0.40 per share, representing a ~5% increase from the prior quarterly dividend. The dividend is payable on [...]
Northern Oil and Gas Inc. today announced an update on Ground Game acquisitions and certain other financial and operational items for the third quarter of 2023. The Company closed on eight Ground Game transactions during the third quarter of 2023, concentrated in the Permian Basin. The transactions are expected to add 5.7 net in-process and future drilling locations and approximately 514 net acres. The majority of the [...]
Northern Oil and Gas Inc. announced today that it plans to issue its third quarter 2023 financial and operating results on Wednesday, November 1, 2023, after the market closes. Additionally, the Company will host a conference call on Thursday, November 2, 2023, at 7:00 a.m. Central Time. Those wishing to listen to the conference call may do so via phone or the Company's webcast. Conference Call and Webcast Details: Date [...]
Northern Oil and Gas Inc. announced today that it has priced its previously announced underwritten public offering of 6,500,000 shares of its common stock for gross proceeds of approximately $252.7 million . The Company has granted the underwriters a 30-day option to purchase up to an additional 975,000 shares from the Company. The Offering is expected to close on October 13, 2023, subject to the satisfaction of customary [...]
Northern Oil and Gas Inc. announced today an underwritten public offering of 6,500,000 shares of its common stock . Additionally, the Company has granted the underwriters a 30-day option to purchase up to an additional 975,000 shares from the Company. The Company intends to use the net proceeds from the Offering for general corporate purposes, which will include the repayment of a portion of the outstanding borrowings [...]
Northern Oil and Gas Inc. closed its previously announced acquisition of Northern Delaware Basin assets from Novo Oil & Gas Holdings, LLC, an EnCap portfolio company , on August 15, 2023. NOG jointly acquired the assets with Earthstone Energy Inc. , which will become the operator of substantially all the assets. In connection with the transaction, NOG and Earthstone entered into cooperation and joint operating agreements [...]
Northern Oil and Gas Inc. today announced the Company's second quarter results. MANAGEMENT COMMENTS "NOG made meaningful strides in expanding its exposure to high-quality, low-breakeven acreage in the second quarter by executing on two highly accretive large-scale acquisitions with Forge and Novo. It was also a banner quarter for the Ground Game, completing 13 transactions that are expected to add over 16 net wells to [...]
Northern Oil and Gas Inc. today announced the completion of its semi-annual borrowing base redetermination under its reserves-based revolving credit facility . In connection with the redetermination, NOG entered into an amendment to the Facility that will increase the borrowing base to $1.8 billion and increase the elected commitment amount to $1.25 billion . The amendment will go into effect upon NOG's closing of the [...]
Northern Oil and Gas Inc. today announced that its Board of Directors has declared a cash dividend on the Company's common stock. The Company is also providing a framework for setting future dividend policy. DIVIDEND DECLARATION NOG's Board of Directors has declared a cash dividend in the amount of $0.38 per share, representing a ~3% increase from the prior quarterly dividend. The dividend is payable on October 31, 2023 [...]
We are pleased to be hosting the Northland Capital Markets Institutional Investor Conference 2023 on Tuesday September 19, 2023, at the Minneapolis Marriott City Center, Downtown Minneapolis. We have over 90 companies to participating. The format will be 10 one-on-one meetings scheduled in 35 minute increments. Registration Link: Northland Institutional Investor Conference 2023 We have a growing list with over 90 [...]
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