Northern Oil & Gas Boosts Permian Position with $102 Million Acquisitions

The acquisition of nonoperated interests across core Permian Basin acreage represents the “trifecta” for Northern Oil and Gas, says COO Adam Dirlam.

Hart Energy Staff

Northern Oil and Gas Inc. bolstered its Permian position with bolt-on acquisitions expected to boost free cash flow by over $100 million.

In a release from the company on June 16, Northern said it had entered into three definitive agreements to acquire nonoperated interests across approximately 2,900 net acres located in the core of the Delaware Basin for a combined purchase price of $102.2 million.

The sellers were not disclosed. However, the acquisitions, according to Northern COO Adam Dirlam, represent the “trifecta” and that the company expects to generate over $100 million in free cash flow from the assets through 2025.

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