Northern Oil and Gas, Inc. CEO and President Swap Titles, Further Positioning the Company to Capitalize on Growth Opportunities
July 05 2018 - 4:30PM
Business Wire
Northern Oil and Gas, Inc. (NYSE American: NOG) today announced
it is realigning executive job responsibilities in an effort to
optimize the daily management of the company and better position
the company to capitalize on growth opportunities. Mike Reger,
Northern’s founder and current CEO, will assume the title of
President, effective July 5, 2018, and will focus his extensive
knowledge of the Williston Basin solely on acquisition
opportunities. Brandon Elliott, current President, will assume the
title of CEO, effective July 5, 2018, and will be responsible for
the day-to-day operations of the company and investor relations
with Northern’s CFO, Nick O’Grady.
“Since returning to Northern, Brandon and I have continued our
longstanding conversation about how to best position the company
for success,” commented Mike Reger. “As a significant shareholder,
I want my focus to be where I can add the most value to Northern
and its shareholders, which is to allocate 100% of my time to
growing acreage and production through accretive acquisitions.
Brandon will focus on day-to-day operations and investor relations
– two areas in which he excels. The Board and I have agreed to this
re-alignment of responsibilities and title swap, and we are
unanimous in our belief that it will further drive our growth
strategy and enhance shareholder value.”
ABOUT NORTHERN OIL AND GAS
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.
SAFE HARBOR
This press release contains forward-looking statements regarding
future events and future results that are subject to the safe
harbors created under the Securities Act of 1933 (the “Securities
Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”).
All statements other than statements of historical facts included
in this release regarding Northern’s financial position, business
strategy, plans and objectives of management for future operations,
industry conditions, and indebtedness covenant compliance are
forward-looking statements. When used in this release,
forward-looking statements are generally accompanied by terms or
phrases such as “estimate,” “project,” “predict,” “believe,”
“expect,” “continue,” “anticipate,” “target,” “could,” “plan,”
“intend,” “seek,” “goal,” “will,” “should,” “may” or other words
and similar expressions that convey the uncertainty of future
events or outcomes. Items contemplating or making assumptions about
actual or potential future sales, market size, collaborations, and
trends or operating results also constitute such forward-looking
statements.
Forward-looking statements involve inherent risks and
uncertainties, and important factors (many of which are beyond
Northern’s control) that could cause actual results to differ
materially from those set forth in the forward-looking statements,
including the following: changes in crude oil and natural gas
prices, the pace of drilling and completions activity on Northern’s
properties, Northern’s ability to acquire additional development
opportunities, changes in Northern’s reserves estimates or the
value thereof, general economic or industry conditions, nationally
and/or in the communities in which Northern conducts business,
changes in the interest rate environment, legislation or regulatory
requirements, conditions of the securities markets, Northern’s
ability to raise or access capital, changes in accounting
principles, policies or guidelines, financial or political
instability, acts of war or terrorism, and other economic,
competitive, governmental, regulatory and technical factors
affecting Northern’s operations, products, services and prices.
Northern has based these forward-looking statements on its
current expectations and assumptions about future events. While
management considers these expectations and assumptions to be
reasonable, they are inherently subject to significant business,
economic, competitive, regulatory and other risks, contingencies
and uncertainties, most of which are difficult to predict and many
of which are beyond Northern’s control. Northern does not undertake
any duty to update or revise any forward-looking statements, except
as may be required by the federal securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20180705005514/en/
Northern Oil and Gas, Inc.Nicholas O'Grady,
952-476-9800Chief Financial Officernogrady@northernoil.com
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