February 1, 2018 / 12:04 PM / 3 months ago

BRIEF-Northern Oil And Gas Announces Entry Into Senior Notes Exchange Agreement

Feb 1 (Reuters) - Northern Oil And Gas Inc:

* NORTHERN OIL AND GAS, INC. ANNOUNCES ENTRY INTO SENIOR NOTES EXCHANGE AGREEMENT AND MANAGEMENT CHANGES

* NORTHERN OIL AND GAS INC - ENTERED INTO A PRIVATELY NEGOTIATED EXCHANGE AGREEMENT WITH CERTAIN HOLDERS OF ITS 8% SENIOR UNSECURED NOTES DUE 2020

* NORTHERN OIL AND GAS - DAILY PRODUCTION IN Q4 INCREASED 9.3% SEQUENTIALLY AND 22.3% YEAR OVER YEAR TO AVERAGE 16,742 BARRELS OF OIL EQUIVALENT PER DAY

* NORTHERN OIL AND GAS INC - CURRENT LEAD DIRECTOR BAHRAM AKRADI HAS BEEN APPOINTED CHAIRMAN OF BOARD OF DIRECTORS

* NORTHERN OIL AND GAS INC - ACCEPTED RESIGNATION OF THOMAS STOELK, NORTHERN’S PREVIOUS INTERIM CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

* NORTHERN OIL AND GAS INC - CHAD ALLEN HAS BEEN APPOINTED INTERIM CHIEF FINANCIAL OFFICER IN ADDITION TO HIS CURRENT ROLE AS CHIEF ACCOUNTING OFFICER

* NORTHERN OIL AND GAS INC - REQUIRED TO RAISE AN ADDITIONAL $156 MILLION IN NEW EQUITY

* NORTHERN OIL AND GAS - $40 MILLION OF NEW EQUITY IS COMMITTED AT $3.00 PER SHARE BY TRT HOLDINGS, BAHRAM AKRADI, MICHAEL REGER, CERTAIN OTHER INVESTORS

* NORTHERN OIL AND GAS SAYS $40 MILLION NEW EQUITY EXCHANGE WILL REDUCE DEBT BY $155 MILLION, RESULTING IN ABOUT $597 MILLION OF NET DEBT AS OF DEC 31, 2017 Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below