Northern Oil and Gas Inc. (NYSE: NOG) announced plans to issue $500 million in aggregate principal amount of senior notes due 2034 through a private offering.
The proceeds will primarily be used to repay a portion of the company’s outstanding borrowings under its revolving credit facility, with any remaining funds allocated to general corporate purposes.
The senior notes will be offered exclusively to qualified institutional buyers under Rule 144A or to non-U.S. persons under Regulation S of the Securities Act of 1933. The issuance will not be registered under the Securities Act or applicable state securities laws, and the notes cannot be sold in the U.S. without registration or an applicable exemption.
The offering remains subject to market and other conditions. Northern Oil and Gas describes itself as the largest publicly traded dedicated non-operator in the United States, acquiring non-operated minority working interests and mineral rights across North American basins.
