Northern Oil and Gas, Inc. Announces Closing of Pivotal Petroleum Partners Acquisition
Northern Oil and Gas, Inc. (NYSE American: NOG) today announced that it
has closed on the previously announced Pivotal Petroleum
Partners acquisition.
MANAGEMENT COMMENT
“Closing this highly accretive acquisition will drive free cash flow
generation and strengthen our production base,” commented Northern’s
Chief Executive Officer, Brandon Elliott. “This transaction serves to
benefit all stakeholders by simultaneously growing cash flow per share
and improving our credit metrics.”
ACQUISITION
Northern closed the previously announced Pivotal Petroleum
Partners acquisition with a combination of cash and stock. Information
regarding this previously announced acquisition can be found at: http://ir.northernoil.com/news-releases/news-release-details/northern-oil-and-gas-inc-announces-accretive-acquisition-cash.
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is an exploration and production company with
a core area of focus in the Williston Basin Bakken and Three Forks play
in North Dakota and Montana.
More information about Northern Oil and Gas, Inc. can be found at www.NorthernOil.com.
SAFE HARBOR
This press release contains forward-looking statements regarding future
events and future results that are subject to the safe harbors created
under the Securities Act of 1933 (the “Securities Act”) and the
Securities Exchange Act of 1934 (the “Exchange Act”). All statements
other than statements of historical facts included in this release
regarding the Company’s financial condition and results of operations,
business strategy, plans and objectives of management for future
operations, industry conditions, indebtedness covenant compliance,
timing and benefits of pending acquisitions, and related issuances of
common stock are forward-looking statements. When used in this release,
forward-looking statements are generally accompanied by terms or phrases
such as “estimate,” “project,” “predict,” “believe,” “expect,”
“continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,”
“goal,” “will,” “should,” “may” or other words and similar expressions
that convey the uncertainty of future events or outcomes. Items
contemplating or making assumptions about actual or potential future
production and sales, market size, collaborations, and trends or
operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and
important factors (many of which are beyond the Company’s control) that
could cause actual results to differ materially from those set forth in
the forward-looking statements, including the following: changes in
crude oil and natural gas prices, the pace of drilling and completions
activity on the Company’s current properties and properties pending
acquisition, the Company’s ability to acquire additional development
opportunities, changes in the Company’s reserves estimates or the value
thereof, general economic or industry conditions, nationally and/or in
the communities in which the Company conducts business, changes in the
interest rate environment, legislation or regulatory requirements,
conditions of the securities markets, the Company’s ability to
consummate any pending acquisition transactions, other risks and
uncertainties related to the closing of pending acquisition
transactions, the Company’s ability to raise or access capital, changes
in accounting principles, policies or guidelines, financial or political
instability, acts of war or terrorism, and other economic, competitive,
governmental, regulatory and technical factors affecting the Company’s
operations, products, services and prices. Additional information
concerning potential factors that could affect future financial results
is included in our Annual Report on Form 10-K for the fiscal year ended
December 31, 2017, as updated from time to time in amendments and
subsequent reports filed with the SEC.
The Company has based these forward-looking statements on its current
expectations and assumptions about future events. While management
considers these expectations and assumptions to be reasonable, they are
inherently subject to significant business, economic, competitive,
regulatory and other risks, contingencies and uncertainties, most of
which are difficult to predict and many of which are beyond the
Company’s control. The Company does not undertake any duty to update or
revise any forward-looking statements, except as may be required by the
federal securities laws.
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