One-Page Deal Sheet
Northern Oil Acquires Bakken Assets from PE-Backed Flywheel
Northern Oil and Gas, Inc. Flywheel Energy LLC
Announced Date
April 22,2019
Effective Date
July 01,2019
Close Date
July 01,2019
Transaction Type
Property
Enterprise Value (EV)($MM)
180
Asset/Basin:
{"Williston Basin"}
Net Acres
Net Operated Locations:
Location
Calculated Metrics( EV/Category)
Region
Williston Basin
Country
United States
State
North Dakota
County
McKenzie ,Mountrail ,Williams ,Dunn
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Require Private Equity Subscription
Northern Oil and Gas, Inc. has signed a deal to acquire the Williston Basin properties of VEN Bakken LLC, a subsidiary of Flywheel Bakken LLC (formerly Valorem Energy) for $180 million in cash/stock.
Flywheel is a portfolio company of the Kayne Private Energy Income Funds.
The purchase price will be comprised of $165 million in cash and 5.6 million share of stock (~$15.4 million). Northern Oil will also assume $130 million in debt.
This deal closed on July 2, 2019.
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