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Stock impact report

NOG Announces Expansion of Revolving Credit Facility

Northern Oil and Gas, Inc. (NOG) 
NASDAQ:AMEX Investor Relations: northernoil.com
Company Research Source: Business Wire
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced the completion of its semi-annual borrowing base redetermination under its reserves-based revolving credit facility (the “Facility”). In connection with the redetermination, NOG entered into an amendment to the Facility that leaves the borrowing base unchanged at $1.8 billion and increases the elected commitment amount to $1.5 billion (from $1.25 billion). In addition, JP Morgan Chase Bank, Mizuho Bank and Comerica Bank have joined as new members of the Facility’s lending syndicate.MANAGEMENT COMMENT“We are excited to welcome JP Morgan Chase, Mizuho and Comerica to our lending syndicate,” commented Chad Allen, NOG’s Chief Financial Officer. “The growing commitment of our lenders is a testament to the success and discipline of our growth strategy, and the opportunities ahead of us. Our massive liquidity advantage continues to expand versus our non-operated peers providing u Show less Read more
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