Northern Oil and Gas, Inc. Provides Link to Upcoming Webcast Presentation and Update on Additional Debt Reduction
May 18 2020 - 6:00PM
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200518005759/en/
Mike Kelly, CFA EVP Finance 952-476-9800
mkelly@northernoil.com
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