NOG enters Canada with CA$350M Duvernay acquisition; raises FY2026 production guidance

NORTHERN OIL & GAS, INC.

Acquires 25% non-operated stake in Duvernay light oil assets for CA$350M (~US$259M); CA$113M in NOG stock plus CA$237M cash.
Assets include ~4,000 Boe/d (80% light oil), 75,000 net acres, ~500 gross locations with <$50 WTI breakevens.
Effective date April 1, 2026; expected close late Q2 2026; long-term joint development agreement with Parallax.
FY2026 production guidance raised to 143-148 MBoe/d (from 139-143); oil production 71.5-73.5 MBbl/d; capex unchanged $850-900M.
Transaction expected to be leverage neutral near term and accretive to TEV/EBITDA, EPS, FCF per share.

item 1.01 item 3.02 item 7.01 item 9.01

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