NOG Announces Pricing of Public Offering of Common Stock

Northern Oil and Gas, Inc. (NYSE:NOG) is making waves in the energy industry with its latest announcement of a successful underwritten public offering. The company has priced its offering of 6,500,000 shares of common stock, resulting in gross proceeds of approximately $252.7 million. This achievement highlights Northern Oil and Gas’ strong position in the market and its ability to attract investor interest.

The underwriters of the offering have been granted a 30-day option to purchase up to an additional 975,000 shares from the company, further demonstrating the confidence in Northern Oil and Gas’ potential. The offering is expected to close on October 13, 2023, subject to customary closing conditions.

The net proceeds from the offering will be used for general corporate purposes, including the repayment of a portion of the outstanding borrowings under the company’s revolving credit facility. This strategic move will enhance Northern Oil and Gas’ financial flexibility and position it for future growth opportunities.

Citigroup, acting as the sole book-running manager for the offering, is a renowned financial institution known for its expertise in capital markets. Their involvement further validates the attractiveness of Northern Oil and Gas’ investment proposition.

Northern Oil and Gas is a real asset company with a primary strategy of acquiring and investing in non-operated minority working and mineral interests in the premier hydrocarbon producing basins within the contiguous United States. This focused approach allows the company to leverage its expertise and capitalize on opportunities in key energy-producing regions.

The offering will be made in accordance with the prospectus supplement and accompanying base prospectus filed with the Securities and Exchange Commission (SEC) on Form S-3. Interested investors can obtain copies of the preliminary prospectus supplement and accompanying base prospectus on the SEC’s website or by contacting Citigroup.

It’s important to note that this press release does not constitute an offer to sell or a solicitation to buy securities. Any sale of these securities will be subject to registration or qualification under the securities laws of the relevant jurisdiction.

While forward-looking statements are included in this press release, Northern Oil and Gas acknowledges the inherent risks and uncertainties that could cause actual results to differ materially from those expressed or implied. The company’s management remains committed to navigating these challenges and delivering value to its stakeholders.

Northern Oil and Gas’ successful pricing of its underwritten public offering is a testament to its strong market position and growth potential. With the proceeds being allocated towards general corporate purposes, the company is well-positioned to capitalize on future opportunities and drive further success in the energy sector.