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BS - Northern Oil & Gas Highlights - July 05, 2019
Northern Oil & Gas closed on the acquisition of Bakken properties owned by VEN Bakken LLC, a wholly owned subsidiary of Flywheel Energy, for $310.3 million. The acquired assets are outperforming Northern's initial estimates with increases in both the number of producing wells and the number of wells in process since the deal was announced in April. Production from the acquired assets is now expected to average 6,650 boe/d in Q3 and 7,000 boe/d in Q4, an increase from Northern's prior Q4 estimate of 6,600......
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