NORTHERN OIL & GAS, INC. (NOG): M&A transaction — NOG closes $511.2M Uinta Basin acquisition; adds ~15,800 net acres

NORTHERN OIL & GAS, INC.

NOG acquired 20% undivided interest in Uinta Basin assets from XCL Resources for $511.2M cash.
Acquisition includes ~15,800 net acres and ~116 net undeveloped locations with over a decade of Tier 1 inventory.
SM Energy is operator of substantially all assets under joint development agreements.
Closing includes previously announced Altamont Energy assets; funded in part by $25.5M deposit.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

NORTHERN OIL & GAS, INC. completed an acquisition involving XCL Resources, LLC for approximately $511.2 million in cash (closed 2024-10-01).

Action: acquisition
Counterparty: XCL Resources, LLC
Consideration: approximately $511.2 million in cash
Closing: 2024-10-01

Exact text from the filing

On October 1, 2024, SM and NOG completed the Acquisition whereby NOG has acquired an undivided 20% interest in the Assets in exchange for approximately $511.2 million in cash (funded in part by a $25.5 million cash deposit previously paid into escrow by NOG upon the execution of the Cooperation Agreement).

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Source: SEC EDGAR

accession 0001104485-24-000185

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