Exhibit 99.1
Northern Oil and Gas, Inc. Provides Operations Update and
Increases Drilling and Production Guidance
WAYZATA, MINNESOTA — March 28, 2011 — Northern Oil and Gas, Inc. (NYSE/AMEX: NOG) ("Northern Oil") today provided an operations update related to acreage and drilling activity in the Williston Basin Bakken and Three Forks play.
2011 ACREAGE ACQUISITIONS
During the first quarter of 2011 through March 28, 2011, Northern Oil has acquired leasehold interests of approximately 11,100 net mineral acres for an average of $1,540 per net acre in its core Bakken and Three Forks prospect areas of North Dakota and Montana. All acreage acquisitions year-to-date were consistent with Northern Oil’s strategic non-operated business model.
Northern Oil controls 151,327 net acres targeting the Bakken and Three Forks prospects as of March 28, 2011. This acreage position will allow Northern Oil to participate in approximately 709 net wells assuming six wells per 1280-acre spacing unit.
INCREASED 2011 DRILLING GUIDANCE
Due to accelerating drilling activity and key acreage acquisitions, Northern Oil has spud approximately 9.8 net wells in the first quarter of 2011 year-to-date and now expects to spud approximately 40 net wells during 2011, which represents an increase from previous guidance of 36 net wells.
As of March 28, 2011, Northern Oil has participated with a working interest in 343 successful Bakken or Three Forks discoveries. Northern Oil is currently participating in 141 gross (14.17 net) additional Bakken or Three Forks wells drilling, awaiting completion or completing. Northern Oil maintains a 100% success rate in the Bakken and Three Forks play.
According to the North Dakota Industrial Commission, approximately 173 rigs are currently drilling in the North Dakota Bakken and Three Forks play, representing a new record. The significant rig increase over the past year is driving the continued acceleration of the development of Northern Oil’s core acreage position.
Slawson Exploration, Northern Oil’s operating partner in the Windsor prospect in southern Mountrail County, North Dakota, has commenced the second well in each spacing unit of that prospect. Downspacing in the Windsor prospect to six wells per spacing unit has been approved by the North Dakota Industrial Commission. Slawson Exploration has recently contracted 1.5 dedicated frac crews, which we expect will materially shorten the spud-to-sales timeline in this highly productive prospect. Northern Oil is Slawson’s largest working interest partner in the prospect.
INCREASED 2011 PRODUCTION GUIDANCE
Based on recent drilling activity and continued accelerated development of Northern Oil’s acreage, Northern Oil currently expects daily production to average 6,500 to 7,100 barrels of oil equivalent (“BOE”) during calendar year 2011.
2011 CAPITAL EXPENDITURES
Northern Oil now expects to spend approximately $252 million in drilling capital expenditures during 2011, which represents an increase from previous guidance of $227 million. Northern Oil currently expects to participate in wells during 2011 at an average completed cost of $6.3 million per well. Based on acreage acquired in the first quarter of 2011 through March 28, Northern Oil expects to continue deploying additional capital toward strategic acreage acquisitions throughout the remainder of 2011. Northern Oil currently expects to fund all 2011 drilling commitments and anticipated acreage acquisitions using cash-on-hand of approximately $125 million, 2011 cash flow and its currently undrawn $100 million credit facility.
2011 DEPLETION, DEPRECIATION AMORTIZATION AND ACCRETION
For the fiscal year ending December 31, 2010, Northern Oil’s depletion, depreciation, amortization and accretion expense (“DD&A”) on a per BOE basis was $19.22. For comparison purposes, based on information provided in their respective annual reports on Form 10-K for the fiscal year ending December 31, 2010, Kodiak Oil and Gas reported a DD&A expense of approximately $18 per BOE, Oasis Petroleum reported a DD&A expense of $19.91 per BOE and Brigham Exploration’s DD&A expense calculates to approximately $20.47 per BOE. As such, Northern Oil’s 2010 DD&A expense was in the mid-range of its peer group in the Bakken and Three Forks play. Northern Oil anticipates its DD&A expense for the fiscal year 2011 to remain in-line with this peer group.
MANAGEMENT COMMENT
Michael Reger, Chairman and Chief Executive Officer, commented, “We are very encouraged by the continuing pace of acreage acquisitions and the development of our substantial Bakken and Three Forks position thus far in 2011. We continue to leverage our franchise value in the North Dakota Bakken play to expand our footprint and convert acreage to production. We have converted approximately 25% of our acreage to production or under the bit and expect to end the year at approximately 50%, on pace to hold virtually all of our current position by production through 2013.” Reger continued, “We adamantly reaffirm our confidence in our depletion calculation and reiterate that we are in the mid-range of our peer group in the Williston Basin Bakken and Three Forks play.”
RECENT COMPLETION HIGHLIGHTS
The following table illustrates first quarter 2011 completions in which Northern Oil has participated with a working interest.
| WELL NAME | | OPERATOR | | COUNTY/STATE | | WI | | IP/BOEPD* |
| JEANIE 25-36 #2H | | URSA | | MCKENZIE, ND | | 54.58% | | 1,185 |
| HOVDEN FEDERAL #1-20H | | SINCLAIR | | DUNN, ND | | 45.72% | | 1,325 |
| BORSETH #15-22 1H | | URSA | | MCKENZIE, ND | | 39.55% | | 2,015 |
| BANDIT #2-29H | | SLAWSON | | MOUNTRAIL, ND | | 26.25% | | 959 |
| NIELSEN #1-12H | | CONTINENTAL | | DIVIDE, ND | | 24.25% | | 857 |
| VONA #1-13H | | CONTINENTAL | | DIVIDE, ND | | 20.31% | | 921 |
| ERNEST SCHARCHENKO #34-33H | | MARATHON | | DUNN, ND | | 17.57% | | 400 |
| MUSKRAT FEDERAL #1-28-33H | | SLAWSON | | MOUNTRAIL, ND | | 12.83% | | 1,453 |
| ZI PAYETTE #10-15H | | ZENERGY | | MCKENZIE, ND | | 12.50% | | 1,323 |
| HOLTE #1-32H | | CONTINENTAL | | WILLIAMS, ND | | 12.50% | | 933 |
| GEORGE TANK #151-96-10C-3-3H | | PETRO HUNT | | MCKENZIE, ND | | 12.35% | | 902 |
| ALMER 31X-6 | | XTO | | WILLIAMS, ND | | 11.14% | | 388 |
| BROWN 30-19 #1H | | BRIGHAM | | MOUNTRAIL, ND | | 9.25% | | 2,240 |
| WELL NAME | | OPERATOR | | COUNTY/STATE | | WI | | IP/BOEPD* |
| CROWFOOT #35-3031H | | EOG | | MOUNTRAIL, ND | | 8.38% | | 330 |
| COWDEN #5404 13-35H | | OASIS | | WILLIAMS, ND | | 7.65% | | 1,594 |
| EN-HEINLE ####-##-####H-3 | | HESS | | MOUNTRAIL, ND | | 7.29% | | 950 |
| VIXEN FEDERAL #1-19-30H | | SLAWSON | | MOUNTRAIL, ND | | 6.70% | | 2,218 |
| HELEN 11X-05 | | XTO | | WILLIAMS, ND | | 6.64% | | 917 |
| BENNY #1-13H | | CONTINENTAL | | RICHLAND, MT | | 6.25% | | 232 |
| NORWAY #1-5H | | CONTINENTAL | | MCKENZIE, ND | | 5.14% | | 1,429 |
| ROUND PRAIRIE #10-1819H | | EOG | | WILLIAMS, ND | | 4.82% | | 1,900 |
| MILLER #44-11H | | WHITING | | WILLIAMS, ND | | 4.12% | | 1,144 |
| BUD #1-19H | | CONTINENTAL | | WILLIAMS, ND | | 3.70% | | 1,983 |
| KOSTELECKY 31-6H | | FIDELITY | | STARK, ND | | 3.60% | | 1,343 |
| PROWLER #2-16 | | SLAWSON | | MOUNTRAIL, ND | | 3.44% | | 1,145 |
| HODENFIELD #15-23H | | AMERICAN | | WILLIAMS, ND | | 2.38% | | 1,400 |
| EN-TRINITY ####-##-####H-1 | | HESS | | MOUNTRAIL, ND | | 2.28% | | 750 |
| MCD #11-29H | | FIDELITY | | MOUNTRAIL, ND | | 2.08% | | 430 |
| PAYARA # 2-21H | | SLAWSON | | MOUNTRAIL, ND | | 2.03% | | 1,148 |
| MUIR #1-7H | | CONTINENTAL | | DIVIDE, ND | | 1.75% | | 671 |
| MICHAEL STATE 31X-16 | | XTO | | WILLIAMS, ND | | 1.19% | | 271 |
| OUKROP #34-34H | | FIDELITY | | STARK, ND | | 1.17% | | 262 |
| CLEARWATER #23-3025H | | EOG | | MOUNTRAIL, ND | | 1.08% | | 250 |
| LYNN #19-20-29H | | FIDELITY | | MOUNTRAIL, ND | | 0.81% | | 1,251 |
| SATTERTHWAITE #43-1H | | WHITING | | MOUNTRAIL, ND | | 0.70% | | 1,478 |
| EN-WILL TRUST B ####-##-####H-3 | | HESS | | MOUNTRAIL, ND | | 0.54% | | 320 |
| FORT BERTHHOLD #152-94-13B-24-1H | | PETRO HUNT | | MCKENZIE, ND | | 0.52% | | 1,135 |
_____________
| * | The “IP BOEPD” means the initial production (“IP”) rate expressed in barrels of oil equivalent per day. The IP rate is the 24-hour “Peak Production Rate.” Peak Production Rates may be established following the initial day of production, depending on operator design or well flowback profiles. The IP rate may be estimated based on other third party estimates or limited data available at this time. The IP BOEPD may be computed using crude oil production only, without taking into consideration any associated natural gas production. |
CURRENT DRILLING ACTIVITY
The following table illustrates wells that have spud and are currently drilling, awaiting completion or completing in which Northern Oil is participating with a working interest.
| WELL NAME | | OPERATOR | | COUNTY/STATE | | WI | | STATUS |
| VAGABOND #1-27H | | SLAWSON | | MOUNTRAIL, ND | | 49.04% | | Completing |
| BIGHORN #1-6H | | SINCLAIR | | DUNN, ND | | 48.79% | | Awaiting Completion |
| WATER MOCCASIN #1-34H | | SLAWSON | | MOUNTRAIL, ND | | 44.14% | | Completing |
| MUSTANG #1-22H | | SLAWSON | | MOUNTRAIL, ND | | 39.56% | | Completing |
| TVEIT 25-36 #1H | | URSA | | RICHLAND, MT | | 39.54% | | Awaiting Completion |
| GUNNISON #44-25H | | PRIMA | | BURKE, ND | | 39.35% | | Completing |
| NOVA #4-9-163-98H | | SAMSON | | DIVIDE, ND | | 37.50% | | Awaiting Completion |
| KANDIYOHI #1-19H | | EOG | | BURKE, ND | | 37.47% | | Drilling |
| TURBO #1-21-16H | | SLAWSON | | DUNN, ND | | 35.18% | | Completing |
| WELL NAME | | OPERATOR | | COUNTY/STATE | | WI | | STATUS |
| OLSON RANCH #1-21-16H | | G3 | | ROOSEVELT, MT | | 33.00% | | Drilling |
| YUKON #12-1-163-98H | | SAMSON | | DIVIDE, ND | | 32.81% | | Drilling |
| MOORE #5304 13-1H | | OASIS | | WILLIAMS, ND | | 32.70% | | Awaiting Completion |
| HOLLAND #9-19H | | NORTH PLAINS | | WILLIAMS, ND | | 32.68% | | Awaiting Completion |
| DENALI #13-24-163-98H | | SAMSON | | DIVIDE, ND | | 32.45% | | Drilling |
| AV-SCHWARTZ ####-##-####H-1 | | HESS | | BURKE, ND | | 30.61% | | Awaiting Completion |
| ALAMO #2-19-18H | | SLAWSON | | MOUNTRAIL, ND | | 29.98% | | Drilling |
| CROSBY CREEK #1-5H | | SINCLAIR | | DUNN, ND | | 29.63% | | Completing |
| PORCUPINE #1-19H | | SINCLAIR | | DUNN, ND | | 29.02% | | Awaiting Completion |
| DIAMONDBACK #2-21H | | SLAWSON | | MOUNTRAIL, ND | | 25.23% | | Drilling |
| CYCLONE #1-21-16H | | SLAWSON | | MCKENZIE, ND | | 25.00% | | Awaiting Completion |
| SHELL #1-3-34H | | HUNT OIL | | MOUNTRAIL, ND | | 23.44% | | Drilling |
| RASCAL #1-18H | | SLAWSON | | RICHLAND, MT | | 20.00% | | Awaiting Completion |
| PARADISE #5892 11-30H | | OASIS | | MOUNTRAIL, ND | | 18.78% | | Awaiting Completion |
| GOODSON #1-28H | | CONTINENTAL | | DIVIDE, ND | | 18.75% | | Drilling |
| OBENOUR #150-99-21-16-1H | | NEWFIELD | | MCKENZIE, ND | | 18.75% | | Drilling |
| HARLAN REBSOM #1-2-11H | | ANSCHUTZ | | DUNN, ND | | 17.81% | | Drilling |
| SCOUNDREL #1-8H | | SLAWSON | | RICHLAND, MT | | 16.81% | | Completing |
| LYNN #5502 11-10H | | OASIS | | WILLIAMS, ND | | 15.68% | | Drilling |
| PALERMO #1-2-31H | | HUNT OIL | | MOUNTRAIL, ND | | 15.03% | | Awaiting Completion |
| BONANZA #1-21-16H | | SLAWSON | | MCKENZIE, ND | | 14.84% | | Awaiting Completion |
| CLEO 31X-5 | | XTO | | WILLIAMS, ND | | 14.33% | | Drilling |
| BRATLIEN #2-35H | | CONTINENTAL | | DIVIDE, ND | | 13.95% | | Completing |
| COTTONWOOD #9-28H | | EOG | | MOUNTRAIL, ND | | 12.99% | | Completing |
| MUSKRAT FEDERAL #2-28-33H | | SLAWSON | | MOUNTRAIL, ND | | 12.83% | | Awaiting Completion |
| LOSTWOOD #18-1224H | | EOG | | MOUNTRAIL, ND | | 12.52% | | Drilling |
| ALLEN 21X-17 | | XTO | | WILLIAMS, ND | | 11.90% | | Drilling |
| FERTILE #28-26H | | EOG | | MOUNTRAIL, ND | | 11.88% | | Awaiting Completion |
| HUNTER #1-8-17 | | SLAWSON | | MOUNTRAIL, ND | | 11.74% | | Completing |
| HUNTER #2-8-17 | | SLAWSON | | MOUNTRAIL, ND | | 11.74% | | Drilling |
| LOSTWOOD #20-1123H | | EOG | | MOUNTRAIL, ND | | 11.51% | | Awaiting Completion |
| LOSTWOOD #21-1402H | | EOG | | MOUNTRAIL, ND | | 11.51% | | Awaiting Completion |
| LOSTWOOD #22-1423H | | EOG | | MOUNTRAIL, ND | | 11.51% | | Awaiting Completion |
| LOSTWOOD #6-1102H | | EOG | | MOUNTRAIL, ND | | 11.51% | | Drilling |
| SUBMARINER FEDERAL #1-23-24H | | SLAWSON | | MOUNTRAIL, ND | | 10.89% | | Completing |
| GERHARDSEN #1-10H | | CONTINENTAL | | DIVIDE, ND | | 10.17% | | Completing |
| BATTALION #1-3H | | SLAWSON | | ROOSEVELT, MT | | 10.15% | | Awaiting Completion |
| KOSTELNAK #28-1H | | TRACKER | | DUNN, ND | | 10.00% | | Drilling |
| EN-WEFALD ####-##-####H-1 | | HESS | | MOUNTRAIL, ND | | 9.38% | | Awaiting Completion |
| EN-WEFALD ####-##-####H-2 | | HESS | | MOUNTRAIL, ND | | 9.38% | | Drilling |
| EN-WEFALD ####-##-####H-3 | | HESS | | MOUNTRAIL, ND | | 9.38% | | Drilling |
| FRANCHUK #44-20SWH | | ENCORE | | DUNN, ND | | 9.38% | | Awaiting Completion |
| UXBRIDGE #2-9H | | CONTINENTAL | | DIVIDE, ND | | 9.04% | | Drilling |
| ORCA FEDERAL #1-23-26H | | SLAWSON | | MOUNTRAIL, ND | | 8.44% | | Drilling |
| TATTU #19-1H | | TRACKER | | MCKENZIE, ND | | 8.21% | | Drilling |
| WELL NAME | | OPERATOR | | COUNTY/STATE | | WI | | STATUS |
| FORT BERHOLD #152-94-14C-11-1H | | PETRO HUNT | | MCKENZIE, ND | | 8.10% | | Awaiting Completion |
| HARDSCRABBLE #13-3526H | | EOG | | WILLIAMS, ND | | 7.81% | | Drilling |
| RELLA #18-19H | | ZENERGY | | WILLIAMS, ND | | 7.26% | | Awaiting Completion |
| ROSENVOLD #1-30H | | CONTINENTAL | | DIVIDE, ND | | 6.44% | | Drilling |
| HALLIDAY #1-36-25H | | HUNT OIL | | DUNN, ND | | 6.38% | | Awaiting Completion |
| KANDIYOHI #5-3031H | | EOG | | BURKE, ND | | 6.36% | | Drilling |
| BUCKLEY #1-9H | | CONTINENTAL | | RICHLAND, MT | | 6.25% | | Awaiting Completion |
| EN-URAN A ####-##-####H-1 | | HESS | | MOUNTRAIL, ND | | 6.25% | | Drilling |
| LOON FEDERAL #1-24-25H | | SLAWSON | | MOUNTRAIL, ND | | 6.22% | | Completing |
| JACOB MADISON #11-27H | | MARATHON | | MOUNTRAIL, ND | | 5.78% | | Awaiting Completion |
| KOESER #41-15 SWH | | ENCORE | | MCKENZIE, ND | | 5.59% | | Drilling |
| ELK USA #11-17H | | MARATHON | | MOUNTRAIL, ND | | 5.57% | | Drilling |
| WAHLSTROM #18-1H | | TRACKER | | MCKENZIE, ND | | 5.31% | | Drilling |
| HALLIDAY #1-13-24H | | HUNT OIL | | DUNN, ND | | 5.11% | | Drilling |
| RUTLEDGE #1-32H | | CONTINENTAL | | DUNN, ND | | 4.97% | | Drilling |
| BUFFALO #34-12H | | MARATHON | | DUNN, ND | | 4.91% | | Drilling |
| SCHA 33-34 #1-H | | BRIGHAM | | MOUNTRAIL, ND | | 4.88% | | Drilling |
| STENEHJEM #27-34-1H | | ABRAXAS | | WILLIAMS, ND | | 4.87% | | Awaiting Completion |
| SHELL #1-35-26H | | HUNT OIL | | MOUNTRAIL, ND | | 4.66% | | Awaiting Completion |
| POMERAL STATE #7-36H | | CORNERSTONE | | BURKE, ND | | 4.50% | | Awaiting Completion |
| FIELD TRUST 7-6 #1-H | | BRIGHAM | | WILLIAMS, ND | | 4.28% | | Drilling |
| MAMBA #2-20H | | SLAWSON | | MOUNTRAIL, ND | | 4.22% | | Completing |
| NIGHTCRAWLER #2-17H | | SLAWSON | | MOUNTRAIL, ND | | 4.20% | | Completing |
| OXY OLSON #160-90-10-P-1H | | OXY | | BURKE, ND | | 4.17% | | Drilling |
| RS-FLICKERTAIL ####-##-####H-1 | | HESS | | MOUNTRAIL, ND | | 4.00% | | Awaiting Completion |
| AMBUSH #1-31-30H | | SLAWSON | | WILLIAMS, ND | | 3.96% | | Awaiting Completion |
| MONTAGUE #5501 #13-3H | | OASIS | | WILLIAMS, ND | | 3.95% | | Awaiting Completion |
| KOALA #9-5-6-12H3 | | KODIAK | | MCKENZIE, ND | | 3.93% | | Awaiting Completion |
| KOALA #9-5-6-5H | | KODIAK | | MCKENZIE, ND | | 3.93% | | Awaiting Completion |
| VACHAL 3-34 #1H | | BRIGHAM | | MOUNTRAIL, ND | | 3.86% | | Drilling |
| ROSS #27-2728H | | EOG | | MOUNTRAIL, ND | | 3.75% | | Awaiting Completion |
| SOVIG #150-100-22C-15-1H | | PETRO HUNT | | MCKENZIE, ND | | 3.59% | | Awaiting Completion |
| RS-SHUHART ####-##-####H-3 | | HESS | | MOUNTRAIL, ND | | 3.52% | | Drilling |
| GENESIS #2-13H | | SLAWSON | | MOUNTRAIL, ND | | 3.44% | | Completing |
| L. TUFTO 7-6#1-H | | BRIGHAM | | WILLIAMS, ND | | 3.24% | | Completing |
| MEIERS #5692 11-19H | | OASIS | | MOUNTRAIL, ND | | 3.17% | | Drilling |
| WOCK #14-11H | | FIDELITY | | STARK, ND | | 3.13% | | Awaiting Completion |
| WOODROW 24X-32 | | XTO | | WILLIAMS, ND | | 3.12% | | Drilling |
| MEADOWLARK #2-6H | | CONTINENTAL | | DUNN, ND | | 3.12% | | Completing |
| MEADOWLARK #3-6H | | CONTINENTAL | | DUNN, ND | | 3.12% | | Awaiting Completion |
| SKACHENKO #2-31H | | CONTINENTAL | | DUNN, ND | | 3.12% | | Completing |
| SKACHENKO #3-31H | | CONTINENTAL | | DUNN, ND | | 3.12% | | Awaiting Completion |
| NELSON #2-26H | | SINCLAIR | | MOUNTRAIL, ND | | 3.11% | | Drilling |
| WARDNER #24-35H | | MARATHON | | DUNN, ND | | 3.09% | | Drilling |
| DRUMMOND #5501 44-21H | | OASIS | | WILLIAMS, ND | | 3.06% | | Awaiting Completion |
| WELL NAME | | OPERATOR | | COUNTY/STATE | | WI | | STATUS |
| GLENDON #1-17H | | CONTINENTAL | | WILLIAMS, ND | | 3.05% | | Drilling |
| AFSETH 34-3 #1-H | | BRIGHAM | | MOUNTRAIL, ND | | 2.88% | | Completing |
| JUGHEAD FEDERAL #2-26H | | SLAWSON | | MOUNTRAIL, ND | | 2.81% | | Drilling |
| STORVIK 7-6 #1H | | URSA | | RICHLAND, MT | | 2.35% | | Drilling |
| DORIS 21X-5 | | XTO | | WILLIAMS, ND | | 2.28% | | Drilling |
| EN-TRINITY ####-##-####H-2 | | HESS | | MOUNTRAIL, ND | | 2.28% | | Drilling |
| BARMAN #15-7H | | AMERICAN | | WILLIAMS, ND | | 2.25% | | Drilling |
| STAFFORD #13-34H | | BURLINGTON | | MCKENZIE, ND | | 2.19% | | Completing |
| DAKOTA-3 ELK #16-21H | | ZENERGY | | MOUNTRAIL, ND | | 2.15% | | Drilling |
| ZOC DAKOTA-3 ELK #16-21H | | ZENERGY | | MOUNTRAIL, ND | | 2.15% | | Drilling |
| CLEAR WATER #1-24-25H | | HUNT OIL | | MOUNTRAIL, ND | | 2.08% | | Drilling |
| HOVDE 33-4 #1H | | BRIGHAM | | MCKENZIE, ND | | 2.08% | | Drilling |
| CHARLOTTE #1-22H | | CONTINENTAL | | MCKENZIE, ND | | 1.68% | | Drilling |
| MONT #3-3403H | | EOG | | WILLIAMS, ND | | 1.67% | | Drilling |
| JOHNSRUD #1-1H | | SM ENERGY | | MCKENZIE, ND | | 1.67% | | Drilling |
| DRONE #1-34-27H | | SLAWSON | | DUNN, ND | | 1.59% | | Drilling |
| LIBERTY LR #17-11H | | EOG | | MOUNTRAIL, ND | | 1.59% | | Awaiting Completion |
| HOLMES #5601 44-32H | | OASIS | | WILLIAMS, ND | | 1.57% | | Awaiting Completion |
| HARTMAN #14-32H | | MARATHON | | DUNN, ND | | 1.57% | | Awaiting Completion |
| OBRIGEWITCH #21-17TFH | | WHITING | | STARK, ND | | 1.56% | | Awaiting Completion |
| JORGENSON #158-94-11D-2-1H | | PETRO HUNT | | MOUNTRAIL, ND | | 1.49% | | Completing |
| NORMARK 24X-31 | | XTO | | WILLIAMS, ND | | 1.38% | | Completing |
| KLOSE #24-1H | | TRACKER | | MCKENZIE, ND | | 1.35% | | Drilling |
| ETHAN HALL #6B-31-30-1H | | ENERPLUS | | DUNN, ND | | 1.35% | | Awaiting Completion |
| FERTILE #45-29H | | EOG | | MOUNTRAIL, ND | | 1.25% | | Drilling |
| HELLAND #15-19H | | AMERICAN | | WILLIAMS, ND | | 1.25% | | Drilling |
| JAMES HILL #9-0112H | | EOG | | MOUNTRAIL, ND | | 1.25% | | Drilling |
| RANSOM #44-31H | | CONOCO | | MCKENZIE, ND | | 1.19% | | Awaiting Completion |
| AMY ELIZABETH #11-2H | | ARSENAL | | MOUNTRAIL, ND | | 1.13% | | Drilling |
| CLEARWATER #24-3025H | | EOG | | MOUNTRAIL, ND | | 1.02% | | Awaiting Completion |
| DAKOTA-3 MASON #2-11H | | ZENERGY | | MOUNTRAIL, ND | | 0.98% | | Completing |
| HAUSTVEIT 42X-10 | | XTO | | WILLIAMS, ND | | 0.94% | | Completing |
| RMJK #31-26H | | MARATHON | | MOUNTRAIL, ND | | 0.94% | | Drilling |
| ALINA TORMASCHY #1-32-29H | | ANSCHUTZ | | DUNN, ND | | 0.82% | | Completing |
| LUCY FLECKENSTEIN #34-20H | | MARATHON | | DUNN, ND | | 0.78% | | Drilling |
| SOLBERG #15-8H | | AMERICAN | | WILLIAMS, ND | | 0.78% | | Drilling |
| TEMPE #1-29H | | CONTINENTAL | | DIVIDE, ND | | 0.78% | | Awaiting Completion |
| KALIL FARM 14-23 #1H | | BRIGHAM | | WILLIAMS, ND | | 0.68% | | Awaiting Completion |
| EN-FRANDSON ####-##-####H-2 | | HESS | | MOUNTRAIL, ND | | 0.61% | | Awaiting Completion |
| DEVON #5601 12-17H | | OASIS | | WILLIAMS, ND | | 0.56% | | Awaiting Completion |
| EN-WILL TRUST B ####-##-####H-1 | | HESS | | MOUNTRAIL, ND | | 0.54% | | Awaiting Completion |
| EN-WILL TRUST B ####-##-####H-3 | | HESS | | MOUNTRAIL, ND | | 0.54% | | Awaiting Completion |
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is an exploration and production company based in Wayzata, Minnesota. Northern Oil's core area of focus is the Williston Basin Bakken and Three Forks play in North Dakota and Montana.
More information about Northern Oil and Gas, Inc. can be found at www.NorthernOil.com.
SAFE HARBOR
This press release contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”). All statements other than statements of historical facts included in this report regarding our financial position, business strategy, plans and objectives of management for future operations, industry conditions, and indebtedness covenant compliance are forward-looking statements. When used in this report, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about, actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond our Company’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following, general economic or industry conditions, nationally and/or in the communities in which our Company conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, our ability to raise capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, other economic, competitive, governmental, regulatory and technical factors affecting our Company’s operations, products, services and prices.
We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control.
CONTACT:
Investor Relations
Erik Nerhus
952-476-9800
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