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Northern Oil and Gas Inc. announced on Feb. 14 that the New York Stock Exchange (NYSE) has approved the transfer of the listing of its common stock, continuing a transformative past year for the company.
“Uplisting to the NYSE marks a significant milestone in our transformation of the company over the past several years,” CFO Chad Allen commented in a company release.
Based in Minnetonka, Minn., Northern aims to be the go-to resource for operators that want to offload nonoperated working interests in leasehold. Originally focused in the Williston Basin, the company has also expanded into the Marcellus Shale and Permian Basin through over $1 billion worth of acquisitions in 2021.
More recently, Northern on Jan. 2 closed the acquisition Veritas Energy’s nonop position, which significantly expanded its Permian Basin footprint. The acquisition, which was Northern’s largest to date, included properties located in the Delaware and Midland basins for a cash purchase price of $406.5 million.
“The NYSE is a premiere worldwide market, one that provides a broader platform and services for companies that are able to meet their most selective criteria,” Allen added in the release on Feb. 14. “This new listing matches our ambitions of becoming a diversified, low-leverage, free cash flow and dividend paying entity.”
Effective at the opening of trading on February 17, 2022, the common stock of the Company will cease trading on the NYSE American and will commence trading on the NYSE, remaining under the symbol “NOG.”
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