Northern O & G Stock Price, News & Analysis

Northern Oil and Gas (NYSE American: NOG) has announced its uplisting to the New York Stock Exchange (NYSE), effective February 17, 2022. The company’s common stock will now trade under the same symbol, NOG. CFO Chad Allen highlighted this move as a significant milestone in their transformation, aimed at establishing NOG as a diversified, low-leverage entity focused on free cash flow and dividends. This transition to the NYSE provides a broader platform for growth.

Northern Oil and Gas, Inc. (NOG) announced it will release its fourth quarter and year-end 2021 financial results on February 25, 2022, prior to market opening. The company will conduct a conference call on the same day at 9:00 a.m. Central Time for discussing these results. Investors and analysts can join the call via phone or via webcast. A replay will be accessible until March 4, 2022. NOG focuses on investments in non-operated minority working and mineral interests in U.S. oil and gas properties.

Northern Oil and Gas (NOG) has declared a cash dividend of $0.14 per share, marking a 75% increase from the previous $0.12 dividend. This dividend is payable on April 29, 2022, to stockholders of record as of March 30, 2022. The company reported a year-end 2021 cash balance of $9.5 million and $55 million outstanding on its Revolving Credit Facility. The increase in dividend reflects strong free cash flow and a positive business outlook.

Northern Oil and Gas (NOG) has successfully closed its acquisition of non-operated Permian Basin assets from Veritas Energy for a total of $419.4 million. This strategic move, which is the largest in NOG's history, is aimed at diversifying the company's asset base and enhancing shareholder returns. The deal includes approximately 1.94 million common stock warrants with an exercise price of $28.30 per share. CEO Nick O’Grady emphasized the acquisition's significance in achieving a low-leverage, diversified financial structure.

Northern Oil and Gas, Inc. (NYSE American: NOG) has announced a long-term base dividend growth plan aimed at enhancing returns for investors. The management emphasizes a commitment to providing strong capital returns while pursuing growth opportunities. The strategy is part of Northern's effort to maintain a diversified, low-leverage business model, focusing on delivering superior total returns. Additional details can be accessed in their presentation available on the company’s website.

Northern Oil and Gas, Inc. (NYSE American: NOG) has announced a significant management promotion and a new addition to its Board of Directors. Adam Dirlam has been promoted to President, reflecting his increasing responsibilities during a pivotal year for the company. Additionally, Jennifer Pomerantz, former CEO of American Natural, joins the board, bringing extensive experience in energy and investment banking. This strategic leadership shift aims to enhance Northern's operational execution and growth trajectory in the oil and gas sector.

Northern Oil and Gas announced a public offering of 10,000,000 shares of common stock priced at $20.00 per share, with 9,500,000 shares offered by the Company and 500,000 by Selling Stockholders. The offering, which includes a 30-day option for underwriters to purchase an additional 1,500,000 shares, is expected to close on November 22, 2021. Proceeds will fund the acquisition of non-operated assets in the Permian Basin. The Company will not receive proceeds from the Selling Stockholders, whose sales are for tax planning and charitable purposes.

Northern Oil and Gas, Inc. (NYSE American: NOG) has launched a public offering of 10 million shares of common stock, including 9.5 million shares from the Company and 500,000 from Selling Stockholders. Underwriters may purchase an additional 1.5 million shares. The proceeds will primarily fund the acquisition of non-operated assets in the Permian Basin from Veritas Energy, with any excess proceeds potentially used for debt repayment. The Offering's completion is not tied to the acquisition.

Northern Oil and Gas has announced an agreement to acquire non-operated properties in the Permian Basin from affiliates of Veritas Energy for $406.5 million in cash and approximately 1.9 million equity warrants. The assets are expected to produce about 11,500 Boe per day, with a projected cash flow of $185 million over the next year. Following the acquisition, Northern plans to request a 50% dividend increase to $0.12 per share. This acquisition is expected to enhance overall cash returns and significantly boost production levels.