Northern Oil and Gas to pay down revolver with notes proceeds

By Sara Rosenberg

New York, May 8 – Northern Oil and Gas Inc. plans to repay a portion of the outstanding borrowings under its revolving credit facility using proceeds from a $450 million senior notes offering, according to a market source.

Remaining proceeds from the notes will be used for general corporate purposes.

Northern Oil and Gas is a Minnetonka, Minn.-based energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties.

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