Yesterday, Northern Oil and Gas, Inc. (NOG) announced it had entered a Joint Development Program with an unnamed Marcellus/Utica driller to invest $160 million in 2025 for new well drilling. In return, NOG will receive a 15% working interest (i.e., ownership) in the assets. NOG did not identify the driller but called it “one of…
Read More...In February 2021, Northern Oil and Gas, Inc. (NOG), a company that invests in non-operated oil and gas assets (they let others do the drilling), announced it had purchased 64,000 net acres producing ~120 MMcfe/d (million cubic feet equivalent per day) in the Marcellus/Utica from Reliance Industries Limited (see Northern O&G Buys 64K Acres of…
Read More...Northern Oil and Gas, Inc., a company that invests in non-operated oil and gas assets (they let others do the drilling), announced yesterday it has purchased 64,000 net acres producing ~120 MMcfe/d (million cubic feet equivalent per day) in the Marcellus/Utica from Reliance Industries Limited (RIL). The cash purchase price is $250 million.This post appeared
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