Northern Oil and Gas Inc. (NOG) announced the pricing of its previously announced underwritten public offering of 6.5 million shares of common stock in an Oct. 10 release.

The company expects gross proceeds of the offering to be approximately $252.7 million, which will be used for general corporate purposes, including repayment of a portion of outstanding borrowings from its revolving credit facility.

Northern Oil and Gas granted underwriters a 30-day option to purchase up to an additional 975,000 of company shares. The offer is expected to end Oct. 13, subject to customary closing conditions.

Citigroup is serving as the sole book-running manager for the offering.