Welcome to our dedicated page for Northern O & G news (Ticker: NOG), a resource for investors and traders seeking the latest updates and insights on Northern O & G stock.
Northern Oil and Gas, Inc. (NYSE: NOG) generates a steady flow of news as it acquires and manages non-operated working and mineral interests in key U.S. oil and natural gas basins. The company’s press releases and SEC reports provide regular updates on production, acquisitions, financing and hedging activities tied to its crude petroleum and natural gas extraction focus.
On this page, readers can follow NOG news related to its positions in the Williston, Permian, Uinta and Appalachian basins, as well as its joint acquisition of upstream and midstream assets in the Utica shale of eastern Ohio with Infinity Natural Resources. Recent announcements have covered bolt-on royalty and mineral acquisitions in the Uinta Basin, numerous ground game transactions that add net acres and wells across multiple basins, and a large Ohio Utica transaction that includes both upstream properties and integrated gathering, compression and water systems.
NOG also issues frequent updates on its financial and capital structure. News items include quarterly financial and operating results, changes to annual production and capital expenditure guidance, the pricing and issuance of 7.875% senior notes due 2033, tender offers for 8.125% senior notes due 2028, and amendments to its reserves-based revolving credit facility. The company’s communications often highlight its use of commodity hedges, with detailed tables of oil, natural gas and basis derivatives.
Investors and followers of NOG can use this news feed to review earnings releases, acquisition announcements, hedging updates, dividend declarations and other company communications in one place. Regularly reviewing these items can help readers understand how NOG’s non-operated interests, acquisition activity, financing arrangements and risk management practices evolve over time.
Northern Oil and Gas (NYSE American: NOG) has announced that EQT Corporation and other parties have exercised their rights to purchase certain properties from a recent Marcellus Shale acquisition from Reliance Marcellus. As a result, the cash purchase price has been reduced by $48.6 million, from $175 million to $126.4 million, and the acquired assets will decrease by approximately 2,200 net acres. Expected cash flow from operations for 2021 is now projected at $40-$45 million, down from $55-$60 million.
The company plans to reallocate capital savings into high-return opportunities in the Williston and Permian Basins.
Northern Oil and Gas (NOG) announced the expiration of its cash tender offer for its outstanding 8.50% Senior Secured Second Lien Notes due 2023, which closed on March 3, 2021. A total of $1,002 aggregate principal amount of Notes were validly tendered, and all will be accepted for purchase. The settlement is expected on March 5, 2021, with holders receiving $1,000 per $1,000 principal amount plus interest. The company also received consent for amendments to eliminate restrictive covenants in the Indenture governing the Notes, effective from the Early Settlement Date on February 18, 2021.
Northern Oil and Gas (NYSE American: NOG) announced plans to release its fourth quarter and year-end 2020 financial and operational results on March 12, 2021, before market opening. A conference call is scheduled for the same day at 10:00 a.m. Central Time. Interested parties can access the call via the company's website or by phone. Further, the replay will be available until March 19, 2022. Northern Oil focuses on investing in non-operated minority working and mineral interests in premier oil and gas basins in the U.S.
Northern Oil and Gas (NOG) has announced early results from its cash tender offer for its 8.50% Senior Secured Second Lien Notes due 2023. Approximately $272.1 million, or 94.6% of the total outstanding notes, were validly tendered by the deadline of February 17, 2021. The company plans to purchase these notes at $1,030 per $1,000 principal amount. The offer is contingent on the successful completion of a concurrent bond offering, also expected on February 18, 2021, to satisfy financing conditions. Proposed amendments to the indenture governing the notes will be implemented if conditions are met.
Northern Oil and Gas (NYSE American: NOG) announces the promotions of Mike Kelly to Chief Strategy Officer and Jim Evans to Executive Vice President & Chief Engineer, effective immediately. Both promotions recognize their contributions toward expanding the company. Mike Kelly has served as Executive Vice President of Finance since January 2020, while Jim Evans has been Senior Vice President of Engineering since January 2020 and has been with the company since 2013. These changes signify Northern's commitment to growth and development in the oil and gas sector.
Northern Oil and Gas (NYSE American: NOG) has announced a $550 million private placement of 8.125% senior notes due 2028. The offering, set to close on February 18, 2021, will be used to fund part of the acquisition of natural gas assets from Reliance Marcellus LLC, repay existing debts, and cover corporate expenses. The offering is not contingent on the acquisition's completion, and the notes will not be registered under the Securities Act, targeting qualified institutional buyers and non-U.S. persons.
Northern Oil and Gas has priced its public offering of 12,500,000 shares at $9.75 each, with an option for underwriters to purchase an additional 1,875,000 shares. The offering is expected to close on February 9, 2021. Proceeds will primarily fund the acquisition of non-operated natural gas assets in the Appalachian Basin from Reliance Marcellus. If the acquisition does not occur, funds will be used for debt repayment and general corporate purposes. The offering is conducted under a shelf registration with the SEC.
Northern Oil and Gas (NOG) has launched a cash tender offer for its outstanding 8.50% Senior Secured Second Lien Notes due 2023. The offer will conclude on March 3, 2021, unless extended. Holders who tender notes by February 17, 2021, can receive $1,030 per $1,000 note, including a $30 early tender premium. The offer is contingent upon the successful completion of a concurrent bond offering. The company is also soliciting consents for amendments to eliminate restrictive covenants. Payments will include accrued interest, with settlements expected shortly after each tender period.
Northern Oil and Gas, Inc. (NYSE American: NOG) announced a private placement Offering of $500 million in new senior notes due 2028. The proceeds will fund the acquisition of natural gas assets from Reliance Marcellus LLC, repay borrowings, and redeem existing 2023 notes. The Offering is not contingent upon the completion of the Reliance Acquisition and the notes will not be registered under the Securities Act. The Company aims to strengthen its financial position while pursuing growth opportunities.
Northern Oil and Gas, Inc. (NYSE American: NOG) has initiated an underwritten public offering of 12,500,000 shares of common stock, with an option for underwriters to purchase an additional 1,875,000 shares. The proceeds will be used to partially fund an acquisition of non-operated natural gas assets in the Appalachian Basin from Reliance Marcellus, LLC. The Offering's success is not contingent on the acquisition's completion, allowing flexibility in fund allocation for debt repayment and general corporate purposes.