Northern Oil expects to draw on revolver for bolt-on acquisition

Chicago, Oct. 8 – Northern Oil and Gas, Inc. said that it would use borrowings under its revolving credit facility with cash on hand and operating free cash flow for its $154 million acquisition of 400 producing wellbores in North Dakota, according to a press release.

The bolt-on acquisition is under an asset purchase agreement with Comstock Oil & Gas, LLC.

Northern Oil is a Minneapolis-based oil and gas exploration and production company focused on the Williston Basin Bakken and Three Forks play in North Dakota and Montana.

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