One-Page Deal Sheet
Northern Oil Inks $406.5MM Deal for Veritas Energy's Entire Permian Portfolio
Northern Oil and Gas, Inc. Veritas Energy Llc
Announced Date
November 17,2021
Effective Date
October 01,2021
Close Date
January 27,2022
Transaction Type
Property
Enterprise Value (EV)($MM)
407
Asset/Basin:
["Delaware Basin", "Midland Basin"]
Net Acres
% Oil:
Net Operated Locations:
PV-10 ($MM)
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
County
Loving ,Reeves ,Ward ,Winkler
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Subscribe to see
Northern Oil and Gas, Inc. has agreed to acquire substantially all of the non-operated Permian Basin assets owned by certain entities affiliated with Veritas Energy LLC for $406.5 million in cash.
This deal closed on January 31, 2022.
Deal Details: Acreage: 6,000 net acres located in the Delaware and Midland Basins, primarily located in Lea and Eddy counties, NM, and Loving, Reeves, Ward and Winkler counties, TX. Production: Current production of ~11,500 Boe per day (3-stream basis) or ~9,100 Boe per day (60% oil, 2-stream) (60% oil) Drilling Locations: 40.8 risked net undeveloped…Permian Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Feb-02-2026 |
-  |
- |
Click here | Texas | E&P |
| Nov-03-2025 |
- |
- |
Click here | Texas | E&P |
| Jan-30-2025 |
- |
- |
Click here | Texas | E&P |
| Jan-27-2025 |
- |
- |
Click here | Texas | E&P |
| Jan-04-2024 |
- |
- |
Click here | Texas | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Feb-02-2026 | Devon Acquires Coterra Energy; Bulk Up on Permian, Adds Gas Bank | - |
- |
| Nov-03-2025 | SM Energy, Civitas Strike $12.8B All-Stock Merger | - |
- |
| Sep-02-2025 | Crescent Energy Acquires Vital | - |
- |