Business
NOG Closes Joint Ohio Utica Acquisition, Announces Upsized Credit Facility
MINNEAPOLIS, February 23, 2026--Northern Oil and Gas, Inc. (NYSE: NOG) (the "Company" or "NOG") today announced the closing of its acquisition of non-operated properties in the core of the Ohio Utica Shale, and a revised, upsized reserves-based lending facility.
About this update from Northern Oil And Gas, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":682,"height":227,"url":"https://media.zenfs.com/en/business-wire.com/32500ec3b8f21804f90145b89fc7e499"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/V6YX61IN611orv.YywOrLQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTMyMDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/32500ec3b8f21804f90145b89fc7e499","width":682,"height":227}},"lazy":false},{"type":"text","content":"HIGHLIGHTS","length":10,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"NOG closed previously announced joint acquisition of midstream and upstream interests in the Ohio Utica Shale Assets (the "Assets") with Infinity Natural Resources ("INR")","length":191,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Revolving Credit Facility’s Borrowing Base increased to ~$2.0 billion, Elected Commitment increased to $1.8 billion, adding $200 million of additional liquidity","length":160,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":351,"olType":false},{"type":"text","content":"MINNEAPOLIS, February 23, 2026--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE: NOG) (the "Company" or "NOG") today announced the closing of its acquisition of non-operated properties in the core of the Ohio Utica Shale, and a revised, upsized reserves-based lending facility.","length":299,"tagName":"p"},{"type":"text","content":"UTICA SHALE ACQUISITION","length":23,"tagName":"p"},{"type":"text","content":"On February 23, 2026, NOG closed on its previously announced joint acquisition of interests in the Ohio Utica Shale Upstream and Midstream Assets from Antero Resources Corporation and Antero Midstream Corporation ("Antero"). As previously announced, NOG acquired a 40% stake with INR increasing its stake in the joint acquisition to 60%.","length":347,"tagName":"p"},{"type":"text","content":"The closing payment by NOG was $464.5 million in cash, which includes a $58.8 million deposit paid at signing. The closing payment is net of preliminary and customary purchase price adjustments and remains subject to post-closing settlements between NOG and Antero. More information regarding this acquisition can be found in NOG’s December 8, 2025 press release an...