NOG finalises $464.5m acquisition of Utica Shale assets

Northern Oil and Gas (NOG) has announced the completion of its acquisition of non-operated interests successful the Utica Shale successful Ohio, US, from Antero Resources and Antero Midstream.

The transaction was finalised done a outgo of $464.5m, which includes a $58.8m deposit made astatine signing.

Announced successful December 2025, the transaction progressive associated acquisition with Infinity Natural Resources (INR) for a combined terms of $1.2bn successful cash.

Under the presumption of the deal, NOG acquired a 40% interest, portion INR bought a 60% stake.

NOG utilised currency connected hand, operational escaped currency travel and its revolving recognition installation to money the acquisition.

The acquired properties span astir 35,000 nett acres successful eastbound Ohio's Utica Shale. They comprise much than 100 gross identified undeveloped locations.

For 2026, these assets are projected to nutrient astir 65 cardinal cubic feet (mcf) equivalent per day, chiefly comprising gas, with expectations for a compound yearly maturation complaint exceeding 30% done the extremity of the decade.

This maturation is anticipated nether a continuous one-rig improvement approach.

Additionally, these assets are expected to make unhedged currency travel from operations amounting to astir $100m successful 2026 astatine existent portion prices.

In conjunction with this acquisition, NOG has amended its reserves-based lending facility, expanding its elected committedness to $1.8bn from the erstwhile $1.6bn.

The borrowing basal present stands astatine $1.97bn, up from $1.8bn.

This enlargement of the recognition installation was executed nether an statement involving Wells Fargo and a syndicated radical of 18 lenders, with each different presumption mostly unchanged.

"NOG finalises $464.5m acquisition of Utica Shale assets" was primitively created and published by Offshore Technology, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.