Highlights

• Joint development program with existing Appalachian operator. NOG capital commitment not expected to exceed $160 million, for a 15% working interest at an average net revenue interest of 84% in the program
• Program to cover operator’s Appalachia drilling activities in calendar year 2025
• Adds accretive natural gas development in Appalachia with strong visibility and surety of development

Northern Oil and Gas has entered a Joint Development Program with one of Appalachia’s most capital efficient operators. The program, which covers drilling activities in calendar year 2025, requires a capital commitment from NOG expected not to exceed $160 million for a 15% working interest.

The program provides for participation in Appalachia wells to be spud during 2025 and offers NOG a high degree of visibility and incremental certainty on its 2025 ground game program while adding to its gas inventory.

“NOG’s ability to offer creative and scaled capital solutions that align with the objectives of our operating partners continues to provide the company with accretive opportunities,” commented Nick O’Grady, NOG’s Chief Executive Officer. “This joint venture deepens our relationship with a substantial operating partner. We believe that our unique market position and strategy enhances our ability to deliver a superior total return option to our stakeholders.”

KeyFacts Energy Industry Directory: Northern Oil and Gas