US independent Northern Oil & Gas is set to acquire assets in North Dakota’s Williston basin in a cash-and-stock deal with a private equity backed player.
Northern will pay $165 million in cash, 5.6 million shares of common stock or about $15.3 million at the current stock price, and a $130 million 6% three-year senior unsecured note due in 2022 for Ven Bakken, a subsidiary of Flywheel Bakken.
