Northern Oil & Gas buys 25% stake in Parallax-operated Duvernay assets for CA$350 million

Northern Oil and Gas

Northern Oil and Gas

NOG

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  • Northern Oil & Gas agreed to buy a 25% non-operated stake in Parallax-operated light-oil Duvernay assets in Alberta.
  • Initial unadjusted purchase price CA$ 350 million, including CA$ 113 million in NOG common stock; balance funded with cash and revolver borrowings.
  • Deal includes CA$ 25 million contingent payment in Q1 2028 if average oil-price targets are met through end-2027.
  • Effective date April 1, 2026; closing expected late Q2 2026; assets include about 75,000 net acres and about 500 gross locations.
  • Full-year 2027 output expected at about 4,000 boe/d, about 80% light oil; NOG lifted FY2026 production guidance to 143,000-148,000 boe/d.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Northern Oil & Gas Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202605260630BIZWIRE_USPR_____20260526_BW926252) on May 26, 2026, and is solely responsible for the information contained therein.

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