Northern Oil and Gas Inc. (NOG) has entered two deals to acquire interests in upstream assets in the Permian Basin’s Delaware formation and Utica Shale for a combined $170 million in cash. Minneapolis-based NOG specializes in acquiring non-operated minority working and mineral interests in Lower 48 basins. In the Permian Delaware, NOG entered a deal…
Northern Oil and Gas
Articles from Northern Oil and Gas
Permian Resources, Earthstone Tie-Up Creating Giant E&P Footprint in New Mexico Delaware
Permian Resources Corp. and Earthstone Energy, Inc. on Monday agreed to combine in a $4.5 billion transaction to create a Delaware sub-basin exploration and production (E&P) independent with 400,000-plus net acres and pro forma natural gas and oil output of 300,000 boe/d. Permian Resources was formed last year in a $7 billion merger between Centennial…
August 21, 2023
Vital Energy, NOG Adding Permian Delaware Assets for $540M
Vital Energy Inc. and Northern Oil and Gas Inc. (NOG) are teaming up to acquire the assets of Forge Energy II Delaware LLC, an EnCap Investments LP portfolio company based in the Permian Basin, in a $540 million all-cash transaction. The Forge assets in the Delaware sub-basin span nearly 42,000 gross acres across Pecos, Reeves…
May 17, 2023
Northern Oil to Grow Permian Delaware Reach with Alpha Energy Deal
Northern Oil and Gas Inc. (NOG) has agreed to acquire stakes in Permian Basin properties spanning about 2,800 acres in New Mexico and Texas from Alpha Energy Partners for $157.5 million. NOG reported that Mewbourne Oil Co. is the primary operator of the assets, which span about 2,800 acres in the Permian’s Delaware sub-basin in…
October 5, 2022
Northern Oil Pushed Permian Position to Record Production Despite Williston Hiccups
Northern Oil and Gas Inc. posted record production and earnings during the second quarter, led by Permian Basin activities, as it pursues acquisitions in the Williston Basin and elsewhere. CEO Nicholas O’Grady told investors during a second quarter conference call the firm saw an across-the-board production increase during the quarter, attributed to mostly organic growth,…
August 15, 2022
Northern Oil Builds on Acquisition Spree with Another Permian Deal
Northern Oil and Gas Inc. has agreed to acquire “substantially all” the nonoperated Permian Basin assets owned by affiliates of Veritas Energy LLC, including 6,000 oil-weighted net acres. The transaction for $406.5 million was announced earlier this month. “This transaction completes the strategic transformation of our business that began in 2018,” CEO Nick O’Grady said.…
November 22, 2021
Northern Oil Grows Output as More Bakken Curtailments Eased
Lower 48 producer Northern Oil & Gas Inc. saw its 1Q2021 output climb over the previous three months as more curtailments were eased in the Bakken Shale and well productivity improved. The company, which has positions in the Bakken, the Marcellus Shale and the Permian Basin, reported overall production of 38,417 boe/d for the first…
May 11, 2021
Northern Oil Lifts Production Forecast, Hunts for More Deals
Lower 48 independent Northern Oil and Gas Inc. has raised its production guidance for 2021 as it expects remaining curtailments to ease amid stronger commodity prices. The company expects to produce 37,750-42,750 boe/d on its properties in the Permian and Williston basins in 2021, with oil making up 78-80% of the mix. By comparison, the…
March 16, 2021
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