One-Page Deal Sheet
Northern Oil Picks Up Midland Basin Assets for $110 Million in Cash
Northern Oil and Gas, Inc. Laredo Petroleum Inc.
Announced Date
August 17,2022
Transaction Type
Property
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Permian - Midland Basin
Country
United States
State
Texas
County
Howard
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
Transaction Details: Subscribe to see
Northern Oil and Gas Inc. has entered into an agreement to acquire properties in the Midland Basin from Laredo Petroleum for $110 million in cash.
Deal Details: Acreage: 1,650 net acres and 6.4 producing wells (in Howard County, TX) Drilling Location: 8 net Production: 1,600 BOEPD (87% oil)Substantially all of the assets are operated by SM Energy.
NOG expects less than $5 million of capital expenditures to be incurred post-closing in 2022 and does not anticipate revising 2022 capital expenditure guidance for the acquisition.
The effective date for the transaction is August 1, 2022…
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