Northern Oil & Gas Continues to Sniff for Deals in the Marcellus

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In February 2021, Northern Oil and Gas, Inc., a company that invests in non-operated oil and gas assets (they let others do the drilling), announced it had purchased 64,000 net acres producing ~120 MMcfe/d (million cubic feet equivalent per day) in the Marcellus/Utica from Reliance Industries Limited (see Northern O&G Buys 64K Acres of RIL’s Non-Op M-U Assets for $250M). According to Northern’s most recent quarterly update, production from the company’s M-U assets increased by 11% and now makes up 18% of total production for the company. Even more interesting: Northern continues to sniff around the M-U looking for more deals.

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