MINNEAPOLIS—(BUSINESS WIRE)— Northern Oil and Gas, Inc. (NYSE: NOG) (“NOG”) said today that the previously announced purchase of non-operated interests in the Northern Delaware Basin had been completed.
Delaware Basin Acquisition
On December 16, 2022, NOG finished buying properties from a private seller. This deal had been talked about before. The final settlement was for $131.6 million in cash, and a deposit of $13 million was paid when the contract was signed in October 2022.
The closing cash settlement does not include any pre-closing or usual changes to the purchase price, and it is still subject to settlements between NOG and the seller after the closing. More information about this purchase can be found in NOG’s press release about the deal, which was released on October 11, 2022, and can be found here.
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What Northern Oil And Gas Is About?
NOG is a company whose main goal is to invest in non-operated minority working and mineral interests in oil and gas properties, with a main focus on the best basins in the United States. At www.northernoil.com, you can find out more about NOG.
This press release has statements about future events and future results that look ahead. These statements are subject to the safe harbours set up by the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”), which protect investors. Forward-looking statements include everything in this release that isn’t a statement of historical fact. This includes statements about NOG’s plans to return money to its shareholders, its financial situation, its business strategy, the plans and goals of its management for its future operations, and other things. Forward-looking statements in this release are usually accompanied by words or phrases like “estimate,” “guidance,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other similar words and phrases that show that the future is uncertain. Forward-looking statements also include things that think about or make assumptions about actual or possible future trends or business results.
Forward-looking statements include risks, uncertainties, and important factors, many of which are out of NOG’s control, that could cause actual results to be very different from what was said in the forward-looking statements. These factors include changes in crude oil and natural gas prices, the pace of drilling and completion activity on NOG’s properties and properties it is trying to buy, and NOG’s ability to buy more development opportunities.
NOG made these forward-looking statements based on what it knows now and what it thinks will happen in the future. Even though management thinks these expectations and assumptions are reasonable, they are still subject to significant business, economic, competitive, regulatory, and other risks, contingencies, and uncertainties, most of which are hard to predict and many of which are out of NOG’s control. NOG doesn’t have to update or change any forward-looking statements unless the federal securities laws say they have to.
Stay tuned to our website NogMagazine.com for more updates.