Northern Oil and Gas, Inc. Provides Link to Upcoming Webcast Presentation and Update on Additional Debt Reduction
MINNEAPOLIS--(BUSINESS WIRE)-- Northern Oil and Gas, Inc. (NYSE American: NOG) today announced that management will be participating in the UBS Virtual Global Oil and Gas Conference on Tuesday May 19, 2020. Furthermore, Northern provided details associated with its recent debt reduction activity.
UBS Conference Details:
Tuesday May 19, 2020 – UBS Virtual Global Oil and Gas Conference: Northern’s CEO, Nick O’Grady, and EVP of Finance, Mike Kelly, will give a presentation starting at 12:10pm CT. A link to the webcast can be found on Northern’s website www.northernoil.com or by clicking the following link: https://event.webcasts.com/starthere.jsp?ei=1314088&tp_key=090e915724
Balance Sheet Update:
As noted in a Form 8-K filed on May 14, 2020, Northern has continued to execute on the reduction of its secured debt at a discount to par value in the second quarter and has entered into an agreement to retire an additional $15.6 million of 8.5% Senior Secured Notes.
Upon closing of this and other recently announced transactions, the outstanding principal amount on Northern’s 8.5% Senior Secured Notes will be reduced to $305.8 million, which is a total reduction of $111.9 million since December 31, 2019.
Additionally, in the second quarter Northern has reduced the outstanding balance on its revolving credit facility from $590.0 million at the end of the first quarter to $571.0 million as of May 18, 2020.
ABOUT NORTHERN OIL AND GAS, INC.
Northern Oil and Gas, Inc. is an exploration and production company with a core area of focus in the Williston Basin Bakken and Three Forks play in North Dakota and Montana. More information about Northern Oil and Gas, Inc. can be found at www.northernoil.com.
Mike Kelly, CFA
Source: Northern Oil and Gas, Inc.
Released May 18, 2020