Reuters, quoting unnamed sources, said NOG’s latest bid, made in recent weeks, was at a roughly 20% premium to Granite Ridge’s share price. (Source: Shutterstock/ NOG)
Northern Oil and Gas (NOG) has distanced itself from a report that it was pursuing an acquisition of fellow non-op E&P Granite Ridge Resources.
Reuters reported Dec. 20 that NOG had made at least two offers for Granite Ridge, which has operations in the Permian Basin and Eagle Ford Shale. Reuters, quoting unnamed sources, said NOG’s latest bid, made in recent weeks, was at a roughly 20% premium to Granite Ridge’s share price.
NOG said Dec. 20 that the company frequently sends expressions of interest to acquire assets or businesses in order to “evaluate and conduct due diligence on potential opportunities. Many of these requests to conduct diligence are rejected.”
“The Company is not currently engaged in formal negotiations to acquire Granite Ridge,” NOG said in a press release.
RELATED
Recommended Reading
Pembina Closes $290MM Deal for Stake in Whitecap’s NatGas Facility
2025-01-02 - Pembina Gas Infrastructure closed a CA$420 million transaction to acquire interests in Whitecap Resources’ natural gas processing facility in Alberta, Canada.
One Equity Partners Completes Acquisition of EthosEnergy
2025-01-02 - Private-equity firm One Equity Partners said it purchased EthosEnergy to meet the growing maintenance needs of the gas power market.
EQT Closes $1.25B Non-Op Appalachia Divesture to Equinor
2024-12-31 - EQT Corp. said the proceeds of the sale to Equinor were used to repay outstanding borrowings under its revolving credit facility related to its acquisition of Equitrans Midstream Corp.
Coterra Notches Year-End Permian Deal for $43MM
2024-12-31 - Coterra Energy will buy an additional 1,650 net royalty acres from Sandia Minerals LLC, the interests of which are owned by Franklin Mountain Royalty Investments, for $43 million.
PE Firm Northleaf to Divest Interests in Spanish Solar Farm
2024-12-31 - Private equity firm Northleaf Capital Partners acquired a controlling interest in the NCP Solar Mula farm in 2018.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.