In February 2021, Northern Oil and Gas, Inc. (NOG), 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 NOG’s second quarter 2022 update, the company continued sniffing around the M-U, looking for more deals (see Northern Oil & Gas Continues to Sniff for Deals in the Marcellus). It took a while (more than a year), but they finally found another deal. Yesterday, NOG announced a “bolt-on” acquisition in its Permian portfolio, and a deal to enter the Ohio Utica.
In February 2021, Northern Oil and Gas, Inc. (NOG), 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 