Past year: ▲ 9%(18.15 – 29.23 USD)
Each one in plain English, with the numbers worked through for a shareholder.
1 June 2026capital raising announcement▲ GoodMajor
Northern Oil and Gas completed the Parallax acquisition, paying CA$237 million cash (funded by cash on hand, free cash flow and revolver borrowings) plus about 3.7 million shares - its first Canadian asset base, closing just months after the Utica Shale (Antero/Infinity) deal in February 2026.
26 May 2026capital raising announcement▲ GoodMajor
Northern Oil and Gas agreed to its first-ever acquisition outside the United States: Alberta, Canada oil and gas assets from Parallax Energy for CA$237 million cash plus CA$113 million in stock, with up to CA$25 million more contingent on WTI oil prices staying elevated through 2027 - continuing its acquire-non-operated-interests playbook into a new country.
18 June 2025capital raising announcement▲ Good
Northern Oil and Gas raised another $200 million by tapping its existing 2029 convertible notes (priced at 105.597% of face value - a premium reflecting continued credit strength), adding to the $500 million issued in 2022.
8 Nov 2022capital raising announcement▲ GoodMajor
Northern Oil and Gas mandatorily converted all of its remaining Series A Preferred Stock into common stock plus cash (1.64 million preferred shares into about 7.4 million common shares), eliminating preferred stock from its capital structure entirely and completing the deleveraging arc that began with the 2018 restructuring.
17 Oct 2022capital raising announcement▲ GoodMajor
Northern Oil and Gas raised $500 million through its first convertible senior notes offering (3.625% due 2029, upsized from a $435 million base deal on strong demand) - a new, lower-cost financing tool reflecting its improved credit standing four years after the 2018 restructuring.
23 June 2022capital raising announcement● Neutral
A holder of warrants issued in Northern Oil and Gas's 2021 Reliance Marcellus acquisition (its first Appalachia deal) exchanged them, cashless, for about 2.3 million shares - routine cleanup of prior deal consideration.
16 Nov 2021capital raising announcement▲ GoodMajor
Northern Oil and Gas agreed to acquire Permian Basin assets from Veritas Resources for $406.5 million plus warrants on about 1.9 million shares (struck at $28.30) - its first entry into the Permian Basin and a major step in diversifying beyond the Williston Basin.
31 July 2020capital raising announcement▲ Good
Northern Oil and Gas exchanged $4.0 million more of second-lien notes and $7.6 million of preferred stock (liquidation value) for common stock, alongside newly announced Williston Basin acquisitions - continuing to opportunistically deleverage even while resuming growth.
1 June 2020capital raising announcement▲ Good
Northern Oil and Gas exchanged another $4.0 million of second-lien notes for stock, bringing the outstanding balance down to about $297 million as the discounted debt buybacks continued.
21 May 2020capital raising announcement▲ Good
Northern Oil and Gas exchanged a further $4.5 million of second-lien notes for stock, part of its ongoing opportunistic debt reduction during the COVID-era price crash.
14 May 2020capital raising announcement▲ Good
Northern Oil and Gas exchanged another $15.6 million of second-lien notes for stock, continuing to opportunistically shrink its debt load during the 2020 oil price crash.
8 May 2020capital raising announcement▲ Good
As oil prices collapsed in early 2020, Northern Oil and Gas opportunistically bought back its own discounted debt - retiring $19.6 million of second-lien notes for just $14.6 million in cash and stock combined during Q1-Q2 2020, cutting outstanding notes to about $321 million.
22 Jan 2020capital raising announcement● Neutral
Northern Oil and Gas converted a further $66.8 million of second-lien notes into new preferred stock across three separate noteholder agreements, substantially advancing the exchange program.
6 Jan 2020capital raising announcement● Neutral
Northern Oil and Gas converted another $9.9 million of its second-lien notes into new preferred stock plus cash, continuing the note-to-preferred exchange program launched in November 2019.
26 Nov 2019capital raising announcement▲ GoodMajor
Northern Oil and Gas launched a second round of balance-sheet cleanup: a tender offer to buy back up to $200 million of its expensive 8.50% second-lien notes, plus a new option for noteholders to convert into a newly created 6.50% Series A Perpetual Cumulative Convertible Preferred Stock. Backstop investors agreed to buy $42.1 million of the new preferred for cash and exchange $24.9 million more notes for it.
7 June 2019capital raising announcement● Neutral
Northern Oil and Gas finished settling the price-protection ('true-up') provisions from its 2018 note-exchange agreements, issuing about 5.25 million more shares between April and June 2019 - closing out the year-long note-for-equity restructuring with only a small residual obligation (capped at $3.6 million) remaining.
22 Apr 2019capital raising announcement▲ GoodMajor
Northern Oil and Gas agreed to acquire Williston Basin assets from VEN Bakken (a Kayne Private Energy Income Funds portfolio company) for $165 million cash, 5.6 million shares, and a $130 million seller promissory note - its third major bolt-on acquisition of 2018-2019, this one partly seller-financed.
9 Aug 2018capital raising announcement● Neutral
Northern Oil and Gas exchanged another $13.5 million of its 8.00% 2020 notes for stock, continuing the post-restructuring note cleanup alongside its Q2 2018 earnings release.
31 July 2018capital raising announcement▲ GoodMajor
Days after the Pivotal deal, Northern Oil and Gas agreed to a much larger Williston Basin acquisition from W Resources (WR Operating LLC) - $100 million cash plus 56.4 million shares - continuing its post-restructuring growth-by-acquisition strategy.
20 July 2018capital raising announcement▲ GoodMajor
Freshly recapitalized, Northern Oil and Gas agreed to acquire Williston Basin oil and gas assets from Pivotal Petroleum Partners for a combined $68.4 million cash plus about 25.75 million shares - its first bolt-on acquisition since the restructuring, funded partly with stock rather than more debt.
26 June 2018capital raising announcement● Neutral
Northern Oil and Gas exchanged a further $10 million of its 8.00% 2020 notes for stock, continuing to retire the balance not captured by the main restructuring.
20 June 2018capital raising announcement● Neutral
Northern Oil and Gas exchanged another $22.8 million of its 8.00% 2020 notes for stock across two more noteholder agreements.
13 June 2018capital raising announcement● Neutral
Northern Oil and Gas kept mopping up its remaining 8.00% 2020 notes, agreeing to exchange another $21 million of them for stock with two more noteholders outside the main restructuring.
18 May 2018capital raising announcement▲ GoodMajor
Northern Oil and Gas closed its 2018 restructuring: it exchanged $497 million (71%) of its 8.000% notes due 2020 for 103.2 million new shares plus $344.3 million of new 8.50% second-lien notes due 2023, and raised $52 million more by selling 34.7 million shares at $1.50 - a debt-for-equity swap that fixed the balance sheet after the 2015-2016 oil crash.
19 Mar 2018capital raising announcement● Neutral
As part of its early-2018 balance-sheet restructuring, Northern Oil and Gas added a further $12 million equity subscription (on top of an existing $40 million commitment), bringing expected proceeds from the restructuring's equity raise to $52 million.
