NOG Announces Closings of Utica and Northern Delaware Acquisitions

Northern Oil and Gas, Inc. (NYSE: NOG) (“NOG”) has now closed on both of its previously announced acquisitions of Utica and Northern Delaware Basin assets from private sellers.

NOG paid $162.6 million in cash in aggregate initial closing settlements, with $28.4 million of the closing costs incurred in the fourth quarter of 2023 and the remaining $134.2 million in the first quarter of 2024. The first quarter closings were funded in part by a $17.1 million deposit paid at signing in November 2023. The closing settlements are net of preliminary and customary purchase price adjustments and remain subject to post-closing settlements between the parties. More information regarding these acquisitions can be found in NOG’s November 21, 2023, press release announcing the transactions, which is available here.

ABOUT NOG

NOG is a real asset company with a primary strategy of acquiring and investing in non-operated minority working and mineral interests in the premier hydrocarbon producing basins within the contiguous United States. NOG is the largest public dedicated owner of non-operated energy assets in America. More information about NOG can be found at www.noginc.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 NOG’s dividend plans and practices, financial position, operating and financial performance, business strategy, plans and objectives of management for future operations, industry conditions, indebtedness covenant compliance, capital expenditures, production, cash flow, hedging and other matters are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “guidance,” “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, production, drilling locations, capital expenditures, market size, collaborations, and trends or operating results also constitute such forward-looking statements.