Northern Oil and Gas, Inc. CEO and President Swap Titles, Further Positioning the Company to Capitalize on Growth Opportunities
Northern Oil and Gas, Inc. (NYSE American: NOG) today announced it is
realigning executive job responsibilities in an effort to optimize the
daily management of the company and better position the company to
capitalize on growth opportunities. Mike Reger, Northern’s founder and
current CEO, will assume the title of President, effective July 5, 2018,
and will focus his extensive knowledge of the Williston Basin solely on
acquisition opportunities. Brandon Elliott, current President, will
assume the title of CEO, effective July 5, 2018, and will be responsible
for the day-to-day operations of the company and investor relations with
Northern’s CFO, Nick O’Grady.
“Since returning to Northern, Brandon and I have continued our
longstanding conversation about how to best position the company for
success,” commented Mike Reger. “As a significant shareholder, I want my
focus to be where I can add the most value to Northern and its
shareholders, which is to allocate 100% of my time to growing acreage
and production through accretive acquisitions. Brandon will focus on
day-to-day operations and investor relations – two areas in which he
excels. The Board and I have agreed to this re-alignment of
responsibilities and title swap, and we are unanimous in our belief that
it will further drive our growth strategy and enhance shareholder value.”
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 Northern’s financial position, business strategy, plans and
objectives of management for future operations, industry conditions, and
indebtedness covenant compliance 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 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 Northern’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 Northern’s properties, Northern’s ability to acquire
additional development opportunities, changes in Northern’s reserves
estimates or the value thereof, general economic or industry conditions,
nationally and/or in the communities in which Northern conducts
business, changes in the interest rate environment, legislation or
regulatory requirements, conditions of the securities markets,
Northern’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 Northern’s operations,
products, services and prices.
Northern 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 Northern’s
control. Northern 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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