Capital Markets | Credit Facility Change
Northern Oil's Borrowing Base Raised Over 50% to $1.3 Billion
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Northern Oil and Gas, Inc. announced that on June 7, 2022, it entered into an amended and restated credit agreement governing its reserves-based revolving credit facility with Wells Fargo, as administrative agent, and a syndicate of 14 lenders.
The borrowing base under the facility has been increased to $1.3 billion from $850.0 million.
The facility maturity has been extended from November 2024 to June 2027. NOG has chosen to increase the elected commitment amount to $850.0 million from $750.0 million.
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