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.
NOG Announces Closing of Williston Basin Bolt-on Acquisition. (Credit: Keri Jackson from Pixabay)
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 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.”
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.
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.
Source: Company Press Release