Brief: NOG Announces Joint Acquisition Of Northern Delaware Basin Permian Assets

Earthstone Energy

15/06/2023 12:50

June 15 (Reuters) - Northern Oil and Gas Inc  NOG.N :
    * NOG ANNOUNCES JOINT ACQUISITION OF NORTHERN DELAWARE BASIN
PERMIAN ASSETS
    * NORTHERN OIL AND GAS INC - NOG PURCHASING A 33.33%
UNDIVIDED
STAKE IN NOVO ASSETS FOR $500.0 MILLION IN CASH
    * NORTHERN OIL AND GAS INC - TRANSACTION TO BE FUNDED BY
CASH ON
HAND AND BORROWINGS UNDER NOG'S SENIOR SECURED REVOLVING CREDIT
FACILITY
    * NORTHERN OIL AND GAS INC - NOG'S NET WORKING INTEREST IN
ACQUIRED ASSETS WILL BE ABOUT 29%, WITH AN AVERAGE GROSS NRI OF
77%
    * NORTHERN OIL AND GAS INC - JOINT ACQUISITION WITH
EARTHSTONE
ENERGY OF CERTAIN ASSETS OF NOVO OIL & GAS HOLDINGS, LLC, AN
ENCAP PORTFOLIO COMPANY

Source text for Eikon:  ID:nBw7sP56Ra 
Further company coverage:  NOG.N