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Northern Oil and Gas, Inc.

Company Summary

Description

Northern Oil and Gas, Inc. (NYSE MKT: NOG) is the leading non-operator franchise in the Bakken and Three Forks plays in the Williston Basin of North Dakota and Montana. The foundation of the Company’s success is the long-term relationships it has built in the Williston Basin with premier operators and land owners. Northern has targeted areas in the Williston Basin where activity levels are the highest and offers the highest rates of return on oil drilling projects.

Website

http://www.northernoil.com/

Operational Regions

  • Bakken
  • Three Forks Formation
  • Williston Basin

Financial Data:

AMEX:NOG from Google Finance

Tickers:

  • NOG - American Stock Exchange

Recent news

  • 2/16/2024 - Northern Oil & Gas... (subscriber access)
  • 2/6/2024 - Northern Oil and Gas... (subscriber access)
  • 11/21/2023 - Northern Oil and Gas,... (subscriber access)
  • 10/25/2023 - NOG Issues 3Q23 Update... (subscriber access)
  • 8/16/2023 - Northern Oil and Gas... (subscriber access)

Investor Presentations

  • Marcellus Acquisition Presentation
  • 2Q19 Investor Presentation (subscriber access)
  • 1Q19 Earnings Presentation (subscriber access)
  • 4Q18 Presentation (subscriber access)
  • December Investor Presentation (subscriber access)
  • 3Q18 Investor Presentation (subscriber access)
  • 4Q17 Investor Presentation (subscriber access)
  • 3Q17 Investor Presentation (subscriber access)
  • 2Q17 Earnings Presentation (subscriber access)
  • 1Q17 Investor Presentation (subscriber access)
  • April 2016 IPAA OGIS Presentation (subscriber access)
  • Investor Presentation - November 2016 (subscriber access)
  • July 2016 Investor Presentation (subscriber access)

Company Transactions

Date: 1/15/2023
Type: Acquisition

BUYERS:
  • Northern Oil and Gas, Inc.
    • SELLERS:
  • Midland-Petro D.C. Partners, LLC
    • DETAILS:

    COST: 330 $MM

    VOLUMES: 4.4 MBOE/d

    NOTES:
    NOG will acquire a 37% working interest in the Mascot Project, located in Midland County, TX, from Midland-Petro D.C. Partners, LLC for $330 million. The acquisition will be funded with cash, operating free cash flow, and debt from their revolving credit facility. Closing is targeted for January 2023. The deal will add +6.45 Mboe/d in average production for 2023, rising to 7.6 Mboe/d in 2024 and 4.25 Mboe/d in 2025. It includes four drilling spaces, 12.1 producing wells, 5.5 in-process wells, and 17.3 undeveloped properties. NOG has already hedged a large portion of the forecasted production.
    REGIONS:
  • Midland Basin

    • Date: 2/15/2022
    Type: Acquisition

    BUYERS:
  • Northern Oil and Gas, Inc.
    • SELLERS:
  • Veritas Energy Partners
    • DETAILS:

    COST: 406.5 $MM

    VOLUMES: 11.5 MBOE/d

    NOTES:
    Northern Oil & Gas has entered into a deal to acquire non-operated Permian Basin assets from Veritas Energy affiliates for $406.5 million in cash. They will also issue Veritas 1.9 million common equity warrants at an exercise price of $28.30/share. The assets are currently producing 11.5 Mboe/d (60% oil) and it should average 10.5 Mboe/d throughout 2022.
    REGIONS:
  • Midland Basin
  • Delaware Basin

    • Date: 11/20/2021
    Type: Acquisition

    BUYERS:
  • Northern Oil and Gas, Inc.
    • SELLERS:
  • Comstock Resources Inc.
    • DETAILS:

    COST: 154 $MM

    VOLUMES: 4.5 MBOE/d

    NOTES:
    Northern OIl & Gas has purchased Comstock's Williston Basin position for $154 million, which includes a non-operated interest in >400 producing wells across North Dakota.
    REGIONS:
  • Williston Basin

    • Date: 6/17/2021
    Type: Acquisition

    BUYERS:
  • Northern Oil and Gas, Inc.
    • DETAILS:

    COST: 102.2 $MM

    VOLUMES: 3.7 MBOE/d

    ACRES: 2900 Acres

    NOTES:
    Northern Oil & Gas executed a series of Permian bolt-on acquisitions for $102.2 million that add 2,900 net acres and 3.7 Mboe/d in 2H21 production.
    REGIONS:
  • Permian Basin

    • Date: 4/15/2021
    Type: Acquisition

    BUYERS:
  • Northern Oil and Gas, Inc.
    • SELLERS:
  • Reliance Industries Ltd
    • DETAILS:

    COST: 126.4 $MM

    ACRES: 61800 Acres

    NOTES:
    Northern Oil & Gas has entered into a deal with Reliance Industries to acquire a non-operated position in the Appalachian Shale. They will pay Reliance $126.4 million for the assets.
    REGIONS:
  • Marcellus Shale

    • Date: 12/31/2020
    Type: Acquisition

    BUYERS:
  • Northern Oil and Gas, Inc.
    • DETAILS:

    COST: 8.4 $MM

    ACRES: 655 Acres

    NOTES:
    Northern Oil & Gas reported that they identified and acquired $8.4 million in bolt-on acreage during the fourth quarter of 2020. This included 1 net producing wells, 3.6 net wells in progress and 655 net acres.
    REGIONS:
  • Permian Basin
  • Williston Basin

    • Date: 9/30/2020
    Type: Acquisition

    BUYERS:
  • Northern Oil and Gas, Inc.
    • DETAILS:

    COST: 3.2 $MM

    ACRES: 400 Acres

    NOTES:
    Northern Oil & Gas has entered into several agreements to acquire a net 400 acres in the Williston Basin with 0.7 net producing wells and 1.9 net wells in process. Most wells on the acreage will come online in the summer of 2021, and the acquisition cost of $3.2 million + 2.95MM shares is within their current capital spending guidance. Assuming DAPL is in full operation for 12-months, sellers will be granted a further 450,000 shares.
    REGIONS:
  • Williston Basin

    • Date: 7/1/2020
    Type: Acquisition

    BUYERS:
  • Northern Oil and Gas, Inc.
    • SELLERS:
  • WPX Energy, Inc.
    • DETAILS:

    COST: 1.5 $MM

    VOLUMES: 1.2 MBOE/d

    ACRES: 320 Acres

    NOTES:
    Northern Oil & Gas has announced the bolt-on acquisition of 320-acres in the Williston Basin from WPX Energy for a cash cost of $1.5 million.
    REGIONS:
  • Williston Basin

    • Date: 7/2/2019
    Type: Acquisition

    BUYERS:
  • Northern Oil and Gas, Inc.
    • SELLERS:
  • Flywheel Energy, LLC
    • DETAILS:

    VOLUMES: 6.6 MBOE/d

    ACRES: 18000 Acres

    NOTES:
    Northern Oil and Gas, Inc. entered into a definitive agreement to acquire the Williston Basin properties of Flywheel Energy. The assets to be acquired (the “Assets”) are expected to produce approximately 6,600 barrels of oil equivalent (“Boe”) per day (2-stream) during the second half of 2019 and consist of approximately 18,000 net acres containing 86.9 net producing wells, 2.7 net wells in process, and 47.5 net undrilled locations across the heart of the Williston Basin.
    REGIONS:
  • Williston Basin

    • Date: 1/1/2019
    Type: Acquisition

    BUYERS:
  • Northern Oil and Gas, Inc.
    • DETAILS:

    COST: 15 $MM

    ACRES: 8465 Acres

    NOTES:
    Northern Oil and Gas cited that during the fourth quarter of 2018 and early 2019, they have acquired 1.0 net producing well, 3.3 net wells in process, and 8,465 net acres
    REGIONS:
  • Williston Basin

    • Date: 9/30/2018
    Type: Acquisition

    BUYERS:
  • Northern Oil and Gas, Inc.
    • SELLERS:
  • W Energy Partners
    • DETAILS:

    COST: 288 $MM

    VOLUMES: 6.75 MBOE/d

    ACRES: 10600 Acres

    NOTES:
    Northern will pay $100 million in cash and 56.37 million shares of common stock to W Energy as part of the deal.
    REGIONS:
  • Williston Basin

    • Date: 9/18/2018
    Type: Acquisition

    BUYERS:
  • Northern Oil and Gas, Inc.
    • SELLERS:
  • Pivotal Petroleum Partners
  • Tailwater Capital LLC
    • DETAILS:

    COST: 151.4 $MM

    VOLUMES: 4.1 MBOE/d

    NOTES:
    The asset package is being bought for $68.4 million in cash and 25.75 million shares of common stock. Northern Oil & Gas expects the assets to generate $56 million in cash flow over the next 12-months, and they have entered into hedging agreements on the new volumes.
    REGIONS:
  • Williston Basin

    • Date: 8/1/2018
    Type: Acquisition

    BUYERS:
  • Northern Oil and Gas, Inc.
    • DETAILS:

    COST: 5 $MM

    VOLUMES: 165 BOE/d

    ACRES: 1900 Acres

    REGIONS:
  • Williston Basin

    • Date: 6/7/2018
    Type: Acquisition

    BUYERS:
  • Northern Oil and Gas, Inc.
    • SELLERS:
  • Salt Creek Oil and Gas, LLC
    • DETAILS:

    COST: 40 $MM

    VOLUMES: 1.3 MBOE/d

    ACRES: 1319 Acres

    REGIONS:
  • Williston Basin