secwatch.observer — SEC 8-K summary
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Issuer:     NORTHERN OIL & GAS, INC. (NOG)
CIK:        0001104485
Form:       8-K
Filed at:   2023-06-16T23:59:59+00:00
Accession:  0001193125-23-168976
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NOG to acquire 33.33% stake in Novo Permian assets for $500M cash
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- Purchase price of ~$500M cash; net working interest ~29% with 77% average NRI.
- Acquired assets: ~5,600 net acres, ~13,000 Boe/d production (54% oil) in Eddy County, NM and Culberson County, TX.
- Expected next-twelve-months cash flow >$180M and capex ~$65M; transaction multiple <2.8x.
- Hedges placed through 2026 on significant portion of production; closing expected August 2023 with effective date May 1, 2023.
- Largest transaction in NOG's history; operator will be Earthstone Energy; sub-$45/bbl breakeven Tier 1 inventory.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1104485/000119312523168976/0001193125-23-168976-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1104485/000119312523168976/d515502d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-168976

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