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6/16/2021 Northern Oil and Gas , Inc. Announces Core Permian Basin Bolt - On Acquisitions NOG HIGHLIGHTS • $ 102.2 million of bolt - on acquisitions in the Delaware Basin • Includes 2,900 core Permian acres in Reeves , Lea and Eddy Counties • 3,700 Boe per day ( two - stream ) expected in the second half of 2021 • Forward 1 - year cash flow from operations expected to exceed $ 40 million at current strip pricing ( assuming August 1 , 2021 closing ) , or approximately 2.5x the purchase price • Over $ 100 million of cumulative free cash flow expected from the assets through 2025 • Transaction , inclusive of contemplated financings , expected to be accretive to TEV / EBITDA , Debt / EBITDA , free cash flow and cash flow per share over a multi - year period • Management intends to submit a request for a 50 % increase to the quarterly dividend to $ 0.045 per share to Northern's Board of Directors upon closing of the transactions • Excluding these acquisitions , Northern's preliminary April and May 2021 average oil production estimated to exceed 31,750 Bbl per day , above internal expectations MINNEAPOLIS -- ( BUSINESS WIRE ) -- Northern Oil and Gas , Inc. ( NYSE American : NOG ) : PERMIAN BASIN ACQUISITIONS Northern Oil and Gas , Inc. ( NYSE American : NOG ) ( " Northern " ) announced today that it has entered into three definitive agreements to acquire non - operated interests across approximately 2,900 net acres located in the heart of Reeves County , Texas and Lea and Eddy Counties , New Mexico for a combined purchase price of $ 102.2 million . May 2021 production on the assets was approximately 2,200 Boe per day ( 2 - stream , 66 % oil ) and Northern expects average production of 3,700 Boe per day in the second half of 2021 , assuming an August 1 closing . The estimated development plan on the properties over the next several years is expected to grow production to approximately 6,500 Boe per day , assuming current strip prices . Under this development scenario , Northern forecasts the assets to generate over $ 100 million of cumulative free cash flow through 2025 . The assets include 5.3 net producing wells , 5.0 net wells in process and an additional 23.1 net undrilled locations ascribed to the core zones including the Wolfcamp A , Wolfcamp B and 1st through 3rd Bone Springs . The assets are operated primarily by Mewbourne Oil Company , Colgate Energy , ConocoPhillips and EOG Resources . 1