Northern Oil and Gas has made a significant splash in the energy sector, snapping up stakes in Delaware Basin and Uinta Basin assets to the tune of over $700 million. This strategic move is expected to boost the company’s oil production by more than 15%. To finance these acquisitions, Northern is tapping into its credit facilities.
In a bid to capitalize on undervalued opportunities, Northern is shoring up its position in the market. The company’s latest purchases are expected to yield significant returns, making it an attractive prospect for investors.
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The author of this article has no personal stake in Northern Oil and Gas or any other company mentioned, and does not plan to initiate any positions within the next 72 hours. The views expressed are the author’s own and do not reflect those of Seeking Alpha.
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