m_and_a
confidence high
sentiment neutral
materiality 0.80
NOG closes $464.5M Ohio Utica acquisition, upsizes credit facility to $1.8B elected commitment
NORTHERN OIL & GAS, INC.
- Closed joint acquisition of 40% stake in Ohio Utica upstream and midstream assets from Antero; cash payment $464.5M.
- Original 49% stake reduced to 40% via amendment; INR holds 60%.
- Revolving credit facility borrowing base increased to $1.975B, elected commitment to $1.8B, adding $200M liquidity.
- Acquisition funded with cash on hand, operating cash flow, and credit facility borrowings.