Profile: Northern Oil and Gas Inc (NOG)
20 May 2013
Northern Oil and Gas, Inc., incorporated on October 5, 2006, is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and natural gas properties, primarily in the Bakken and Three Forks formations within the Williston Basin in North Dakota and Montana. The Company’s primary focus is oil exploration and production through non-operated working interests in wells drilled and completed in spacing units that include its acreage. The Company primarily engages in oil and natural gas exploration and production by participating on a proportionate basis alongside third-party interests in wells drilled and completed in spacing units that include its acreage. During the year ended December 31, 2012, it acquired leasehold interests covering an aggregate of approximately 17,590 net acres in its key prospect areas. In addition, it earned approximately 6,450 net acres through farm-in arrangements during 2012.
In 2012, it participated in the drilling and completion of 563 gross (48.3 net) wells in the Williston Basin. As of December 31, 2012, it owned working interests in 1,227 gross (106.2 net) producing wells, consisting of 1,222 wells targeting the Bakken and Three Forks formations and five exploratory wells targeting other formations. As of December 31, 2012, it leased approximately 179,131 net acres, all located in the Williston Basin, of which approximately 89,777 net acres were developed. As of December 31, 2012, its proved reserves were 67.6 one million boes. As of December 31, 2012, the Company participated in three defined drilling projects with Slawson, with participation interests ranging between 4.5% and 50%, covering an aggregate of approximately 19,467 net acres of leasehold interests held by the Company. The areas cover the Windsor project area (4.5% participation interest), which includes approximately 2,063 net acres held by the Company, primarily located in Mountrail and surrounding counties of North Dakota. The South West Big Sky project (20% participation interest) includes approximately 5,449 total net acres held by the Company in Richland County, Montana. The Lambert project (50% participation interest) includes approximately 11,955 net acres held by the Company in Richland County, Montana.
Northern Oil and Gas Inc
Suite 200, 315 Manitoba Avenue
WAYZATA MN 55391