MINNEAPOLISNorthern Oil and Gas Inc. Aug. 15 announced the closing of its previously announced acquisition of non-operated Williston Basin assets from a private, unnamed seller.

“NOG continues to execute as the natural consolidator of non-operated properties,” commented Nick O’Grady, NOG’s CEO. “This cash-generating, inventory-rich acquisition remains consistent with our mission to build a diversified, national franchise focused on return on capital, low leverage and with robust, growing shareholder returns.”

NOG closed the Williston Basin acquisition on Aug. 15. The closing settlement was $158 million in cash, which includes a $17 million deposit paid at signing in June 2022. The closing cash settlement is net of preliminary and customary purchase price adjustments and remains subject to final post-closing settlement between NOG and the seller.