Text Size:
A | A

Northern Oil Boosts Borrowing Base Under Revolving Credit Facility

Text Size: A | A
July 2, 2012

Northern Oil and Gas, Inc. (nyse mkt:NOG) announced that, on June 29, 2012, it entered into an amendment that increases the borrowing base under its revolving credit facility to $300 million.

At June 29, 2012, Northern Oil had no borrowings outstanding under the facility. The next redetermination of the borrowing base is scheduled for October 1, 2012.

Michael Reger, Chief Executive Officer, commented, "The pace of drilling and completions in the Williston Basin has continued at extremely high levels through the first half of 2012. With $300 million in borrowing ...

Already a subscriber? Log In
Does your company have a site license? Inquire here
Already a print subscriber? Upgrade your magazine subscription