KEYFACT Energy
Northern Oil and Gas has now closed on both of its previously announced acquisitions of Utica and Northern Delaware Basin assets from private sellers.
NOG paid $162.6 million in cash in aggregate initial closing settlements, with $28.4 million of the closing costs incurred in the fourth quarter of 2023 and the remaining $134.2 million in the first quarter of 2024. The first quarter closings were funded in part by a $17.1 million deposit paid at signing in November 2023. The closing settlements are net of preliminary and customary purchase price adjustments and remain subject to post-closing settlements between the parties.
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