One-Page Deal Sheet
Northern Oil & Gas Bolts-On Property in Williston Basin
Calculated Metrics( EV/Category)
Transaction Details:
Bakken Non-Op Northern Oil and Gas, Inc. has inked a deal to acquire core Williston Basin properties for $1.5 million in cash.
The seller was not disclosed, but the properties are operated by WPX Energy.
Deal Details:
- Includes 320 acres (~9 gross drilling locations / 2.1 net)
- Acreage expected to produce approximately 1,200 Boe per day in 2021, and wells are expected to be online in the first quarter of 2021
- Northern has entered additional commodity hedging instruments at prices higher than the strip for 2021
Closing is expected on July 1, 2020.
Northern’s Chief Operating Officer, Adam Dirlam said: “We have consistently believed this environment would create opportunities for our shareholders in 2020 and beyond, and budgeted for opportunities like this. This acquisition, while modest in size, is located in the heart of the core with one of the top operators in the Williston Basin and highlights Northern’s competitive advantage as an actively managed non-operator. We expect this deal to be materially accretive to cash flow in 2021, yet represents no additional capital spending to our stated 2020 budget.”
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| May-13-2025 |
-  |
- |
Click here | Montana | E&P |
| Jan-31-2024 |
- |
- |
Click here | North Dakota | E&P |
| Aug-24-2023 |
- |
- |
Click here | North Dakota | E&P |
| Sep-06-2022 |
- |
- |
Click here | E&P | |
| Jul-11-2022 |
- |
- |
Click here | Texas | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
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