---
schema_version: "secwatch.filing_event.v1"
accession: "0001104485-22-000200"
form_type: "8-K"
ticker: "NOG"
cik: "0001104485"
company_name: "NORTHERN OIL & GAS, INC."
filed_at: "2022-11-14T23:59:59+00:00"
generated_at: "2026-06-21T19:22:19.862834+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NOG increases borrowing base to $1.6B and elected commitment to $1.0B

## Summary
- Borrowing base raised from $1.3B to $1.6B; elected commitment increased from $850M to $1.0B.
- Unanimously approved on Nov. 10, 2022 by syndicate of 14 lenders led by Wells Fargo.
- Also amended warrants to allow cashless exercise for Veritas warrantholders.
- Credit facility amendment enhances liquidity for acquisitions and working capital.

## SEC filing metadata
- accession: 0001104485-22-000200
- form_type: 8-K
- ticker: NOG
- cik: 0001104485
- company_name: NORTHERN OIL & GAS, INC.
- filed_at: 2022-11-14T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1104485/000110448522000200/0001104485-22-000200-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1104485/000110448522000200/nog-20221110.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104485-22-000200
- JSON: https://secwatch.observer/filing/0001104485-22-000200.json
- Plain text: https://secwatch.observer/filing/0001104485-22-000200.txt

## Key facts
- Material Agreements
  NORTHERN OIL & GAS, INC. amended Amendment to Third Amended and Restated Credit Agreement with Wells Fargo Bank, N.A. valued at Borrowing base increased from $1.3 billion to $1.6 billion; elected commitment amount increased from (effective 2022-11-10).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, N.A.
  - Value: Borrowing base increased from $1.3 billion to $1.6 billion; elected commitment amount increased from
  - Effective: 2022-11-10
  source text: On November 10, 2022, Northern Oil and Gas, Inc. (the “Company”) entered into an amendment (the “Amendment”) to its Third Amended and Restated Credit Agreement, dated June 7, 2022, governing the Company’s revolving credit facility with Wells Fargo Bank, N.A., as administrative agent and collateral agent, and the lenders from time to time party thereto. Pursuant to the Amendment, the Company’s semi-annual borrowing base redetermination was completed, with the borrowing base under the credit facility increasing from $1.3 billion to $1.6 billion, and the elected commitment amount increasing from $850.0 million to $1.0 billion.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1104485/000110448522000200/0001104485-22-000200-index.htm
- Material Agreements
  NORTHERN OIL & GAS, INC. amended Amended and Restated Warrants with Veritas Permian II, LLC and Veritas MOC Holdings, LLC valued at Veritas Warrantholders now have the option to pay the exercise price via a 'cashless exercise' by in (effective 2022-11-10).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: Veritas Permian II, LLC and Veritas MOC Holdings, LLC
  - Value: Veritas Warrantholders now have the option to pay the exercise price via a 'cashless exercise' by in
  - Effective: 2022-11-10
  source text: Also on November 10, 2022, the Company amended and restated its warrants (the “A&R Warrants”) to purchase shares of the Company’s common stock, par value $0.001 per share (“Common Stock”) originally issued to Veritas Permian II, LLC and Veritas MOC Holdings, LLC (collectively, the “Veritas Warrantholders”) on January 27, 2022 (the “Original Warrants”). Pursuant to the A&R Warrants, the Veritas Warrantholders now have the option to pay the exercise price thereunder via a “cashless exercise” by instructing the Company to withhold a number of shares of Common Stock then issuable upon exercise of the A&R Warrants, subject to compliance with the federal securities laws.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1104485/000110448522000200/0001104485-22-000200-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.