Northern Oil and Gas pursues acquisition of Granite Ridge Resources [Yahoo! Finance]
Northern Oil and Gas, Inc. (NOG)
NASDAQ:AMEX Investor Relations:
northernoil.com
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Source: Yahoo! Finance
The latest offer from the Minneapolis-based company represents an approximately 20% premium over Granite Ridge's share price, indicating a strategic push to expand its non-operational production (non-op) footprint. Granite Ridge's management has rejected Northern Oil and Gas' offers so far, but sources suggest the company remains interested and may raise its offer next year. As the news broke, Granite Ridge's shares surged over 10%, boasting its market value to approximately $809m. At the end of September, Granite Ridge reported a net debt of around $136m, based on LSEG data. Meanwhile, Northern Oil and Gas, which has a market capitalisation of approximately $3.6bn, experienced a 1.2% decline in its share price after reversing earlier marginal gains. Northern Oil and Gas said in a statement: “The company frequently sends expressions of interest to acquire assets or businesses.” Granite Ridge is predominantly owned by Grey Rock Investment Partners, led by co-chairmen Matt
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NOG
News
- NOG Responds to Reuters Article in Regard to Potential Business CombinationBusiness Wire
- Northern Oil and Gas, Inc. (NYSE: NOG) had its price target lowered by analysts at Piper Sandler from $41.00 to $37.00. They now have a "neutral" rating on the stock.MarketBeat
- Northern Oil and Gas Inks $160M Appalachia Development Program [Yahoo! Finance]Yahoo! Finance
- Northern Oil and Gas, Inc. (NYSE: NOG) was downgraded by analysts at Mizuho from an "outperform" rating to a "neutral" rating. They now have a $47.00 price target on the stock.MarketBeat
- Northern Oil and Gas, Inc. (NYSE: NOG) was downgraded by analysts at Mizuho from an "outperform" rating to a "neutral" rating. They now have a $47.00 price target on the stock.MarketBeat
NOG
Earnings
- 11/5/24 - Beat
NOG
Sec Filings
- 12/23/24 - Form 8-K
- 12/3/24 - Form 4
- 12/3/24 - Form 4
- NOG's page on the SEC website