NOG recently closed acquisitions in the Delaware Basin and Utica Shale. (Source: Shutterstock)
Northern Oil and Gas (NOG) seized on market opportunities created by commodity price “dislocations” to complete several ground game transactions for approximately $25 million in the fourth quarter.
The transactions included 4.6 net wells-in-process and future drilling locations, along with 663 net acres. The company did not disclose where the acquisitions had been made. NOG recently closed acquisitions in the Delaware Basin and Utica Shale. The company also holds interests in the Williston and Appalachian basins.
Half of the acquired net wells turned in line at the end of the fourth quarter and production contributions are expected in first-quarter 2024.
The ground game acquisitions, along with accelerated drilling activity in fourth-quarter 2023, resulted in total fourth-quarter capex of approximately $260 million, excluding non-budgeted acquisitions and other items.
Recommended Reading
US NatGas Dominance Collides with Permitting, Tariffs, Layoffs
2025-03-14 - Executives at BP, Sempra Infrastructure and the American Petroleum Institute weighed in on U.S. natural gas prowess and the obstacles that could stand in the way: snagged permitting, prohibitive steel tariffs and layoffs of federal workers needed to approve projects.
EOG Ramps Gassy Dorado, Oily Utica, Slows Delaware, Eagle Ford D&C
2025-03-14 - EOG Resources will scale back on Delaware Basin and Eagle Ford drilling and completions in 2025.
Then and Now: 4D Seismic Surveys Cut Costs, Increase Production
2025-03-14 - 4D seismic surveys allow operators to monitor changes in reservoirs over extended periods for more informed well placement decisions. Companies including SLB and MicroSeismic Inc. are already seeing the benefits of the tech.
Diversified Energy Closes $1.3B Maverick Acquisition, Enters Permian
2025-03-14 - Diversified Energy Co. Plc completed its $1.3 billion acquisition of EIG-backed Maverick Natural Resources.
Glenfarne CEO Expects FID on Texas LNG by End of 2025
2025-03-14 - Glenfarne Energy Transition executives are waiting on a re-issue of a vacated FERC permit for Texas LNG.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.