Northern Oil and Gas, Inc. (NYSE American: NOG) announced that it has entered into an additional independent, separately negotiated exchange agreement with an institutional holder of its 8% senior unsecured notes due 2020. The agreement represents a debt reduction of $9,943,000 par value of Notes. Through this and other recently announced exchanges, Northern has now entered into agreements to retire $63,700,000 of its remaining Notes, permanently reducing interest expenses by $5,096,000 on an annual basis.
In this exchange for the Notes, Northern will issue 3,057,559 million shares of common stock to the Investor. In exchange for certain guarantees, the Investor has agreed to an approximately nine month lock-up period, subject to certain exceptions.
The Oil and Gas Conference®
Northern Oil and Gas is presenting at EnerCom’s The Oil & Gas Conference® at the Denver Downtown Westin Hotel, Denver, Colo. Aug. 19-23, 2018. EnerCom expects to have more than 80 presenting oil and gas companies and more than 2000 financial professionals attending this year’s conference.
To learn more about the conference and presenter schedule please visit the conference website here.
