Northern Oil and Gas dips after $200 mln share sale

Northern Oil and Gas

12/03/2026 11:40

** Northern Oil and Gas NOG.N shares down 1.1% premarket to $28.28 after follow-on priced

** Minnetonka, Minnesota-based NOG late Weds said it sold ~7.2 mln shares in previously announced offering

** After the bell Weds, co focused on acquiring and investing in non-operated minority working and mineral interests in oil and natural gas properties commenced $200 mln offering

** Offering priced at $27.75, a 2.9% discount to stock's last sale

** Co, which has ~97.3 mln shares outstanding, to use net offering proceeds for general corporate purposes, including paying down its revolver

** BofA sole bookrunner

** NOG stock up 33% YTD at Weds close

** Avg rating of 10 analysts is "buy"; median PT $32, per latest LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))