Northern Oil and Gas to draw on revolver for bolt-on acquisition

Chicago, June 7 – Northern Oil and Gas, Inc. announced that it will draw on its revolving credit facility for its $170 million purchase of high oil-cut, core working interest properties in the Williston Basin, according to a press release.

The company will also use cash on hand and operating free cash flow.

The effective date for the transaction is April 1, 2022 and Northern Oil expects to close the transaction in August.

Kirkland & Ellis LLP is serving as legal adviser to Northern Oil and Raymond James served as lead financial adviser.

Northern Oil is a Wayzata, Minn.-based independent oil and gas acquisition, exploration, development and production company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.