NOG recently closed acquisitions in the Delaware Basin and Utica Shale. (Source: Shutterstock)
Northern Oil and Gas (NOG) seized on market opportunities created by commodity price “dislocations” to complete several ground game transactions for approximately $25 million in the fourth quarter.
The transactions included 4.6 net wells-in-process and future drilling locations, along with 663 net acres. The company did not disclose where the acquisitions had been made. NOG recently closed acquisitions in the Delaware Basin and Utica Shale. The company also holds interests in the Williston and Appalachian basins.
Half of the acquired net wells turned in line at the end of the fourth quarter and production contributions are expected in first-quarter 2024.
The ground game acquisitions, along with accelerated drilling activity in fourth-quarter 2023, resulted in total fourth-quarter capex of approximately $260 million, excluding non-budgeted acquisitions and other items.
Recommended Reading
From Tokyo Gas to Chesapeake: The Slow-burning Fuse that Lit Haynesville M&A
2024-03-01 - TG Natural Resources rides the LNG wave with Rockcliff deal amid shale consolidation boom.
Which Haynesville E&Ps Might Bid for Tellurian’s Upstream Assets?
2024-02-12 - As Haynesville E&Ps look to add scale and get ahead of growing LNG export capacity, Tellurian’s Louisiana assets are expected to fetch strong competition, according to Energy Advisors Group.
EIG’s MidOcean Energy Acquires 20% interest in Peru LNG
2024-02-08 - On top of acquiring a 20% interest in Peru LNG, MidOcean Energy is also in the process of acquiring interests in four Australian LNG projects.
EIG’s MidOcean Closes Purchase of 20% Stake in Peru LNG
2024-04-23 - MidOcean Energy’s deal for SK Earthon’s Peru LNG follows a March deal to purchase Tokyo Gas’ LNG interests in Australia.
Ohio Oil, Appalachia Gas Plays Ripe for Consolidation
2024-04-09 - With buyers “starved” for top-tier natural gas assets, Appalachia could become a dealmaking hotspot in the coming years. Operators, analysts and investors are also closely watching what comes out of the ground in the Ohio Utica oil fairway.