Northern Oil & Gas Acquires 49% Stake in Ohio Utica Assets for $588 Million
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Northern Oil & Gas Inc. is acquiring a 49% stake in Ohio Utica Shale assets for $588 million, partnering with Infinity Natural Resources. The assets, bought from Antero Resources and Antero Midstream for $1.2 billion, include 35,000 net acres with diverse gas production and integrated midstream assets. NOG will fund the purchase through cash flow, cash on hand, and borrowings, while adding multi-year natural gas hedges. This acquisition marks a major event for NOG, enhancing its asset portfolio.
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