Northern Oil and Gas Inc. (NOG) closed its previously announced deal with a private seller of non-operated interests in the Northern Delaware Basin for $131.6 million in cash, the company announced in a press release Dec. 19.
The acquisition was announced with a $13 million deposit in October and is the third Permian Basin acquisition since August, adding to NOG’s $400 million of Permian Basin acquisitions in 2022.
NOG Tacks Another Northern Delaware Basin Bolt-on for $130 Million
Spanning roughly 2,100 net acres, the assets are primarily operated by privately held Mewbourne Oil Co., with production expected to total approximately 2,500 boe/d in 2023. Coterra Energy Inc. and Permian Resource Corp. are also operators of the assets.
With an effective date of Nov. 1, 2022, the acquisition is anticipated to add an approximated $55 million of unhedged cash flow in 2023 as of Oct. 10.
The closing cash settlement is a net of preliminary and customary purchase price adjustments and is subject to post-closing settlements between NOG and the seller.
IOG Resources Boosts Appalachia Footprint with Acquisition
2023-03-31 - The Dallas-based investment firm is picking up non-operated oil and gas assets in Ohio and Pennsylvania.
DUG Haynesville: Equitable Origin's Jordan Sees Potential in Responsibly-sourced Oil
2023-03-31 - Equitable Origin's Corey Jordan said he sees responsibly-sourced certifications moving past just natural gas and into other commodities such as oil in an exclusive interview with Hart Energy's Deon Daugherty at DUG Haynesville in Shreveport.
Williams Hopes Gas Pipeline Project Gives LEG Up in Transition
2023-03-31 - Williams’ LEG gas pipeline project is a key component of its low-carbon strategy.
S&P Lowers Currency Ratings on Argentine Producers
2023-03-31 - S&P Global Ratings lowered the local and foreign currency ratings to ‘CCC-’ from ‘CCC+’ on Pampa Energia S.A., YPF S.A. and nine other entities, which all now have a negative outlook.
Energy Transition in Motion (Week of March 31, 2023): Advancing Projects, Investment
2023-03-31 - Here’s a look at some of this week’s renewable energy news, including plans to add offshore wind capacity globally.