NOG Announces Closing of Williston Basin Bolt-on Acquisition

Source: www.gulfoilandgas.com 8/15/2022, Location: North America

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,


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