Northern Oil & Gas Acquires Flywheel's Williston Basin Assets

Updated 2 years 2 months ago

Northern Oil & Gas announced an agreement to acquired Flywheel's Williston Basin assets in April 2019. Assets are expected to produce 6,600 boe/d during the second half of 2019 and includes 18,000 net acres containing 87.9 net producing wells and 47.5 net undrilled locations. The acquisition closed on-schedule in July 2019 with Flywheel receiving $130 million in cash, 5.6 million shares of Northern common stock, and a 6% three-year unsecured note due 2022. Richardson Barr served as a financial advisor to Flywheel.