Northern Oil and Gas Inc. agreed to spend $102 million to bolt-on prospects in the Permian Basin that cover about 2,900 net acres.

The three agreements announced Thursday are from undisclosed sellers for nonoperated assets in Reeves County, TX, and New Mexico’s Lea and Eddy counties. The assets are operated primarily by Colgate Energy LLC, ConocoPhillips, EOG Resources Inc. and Mewbourne Oil Co., according to Northern.

“These assets represent the trifecta,” COO Adam Dirlam said. “We are acquiring high return core properties with top operators, assets with significant inventory and growth potential, and engaging in a transaction expected to meaningfully impact Northern’s free cash flow profile.”

CEO Nick O’Grady said the transactions “achieve all of our stated...