Northern Oil inks $154M deal for North Dakota oil properties


October 8, 2021

Eric Gay, Associated Press file

Shown are oil pump jacks in Williston, N.D. Northern Oil and Gas is buying assets that include wells in North Dakota.

Northern Oil and Gas on Thursday announced it will buy further interests in a fleet of oil wells in North Dakota for $154 million, its third significant acquisition in the past eight months.

The seller in the latest deal is Texas-based Comstock Resources, which is controlled by the owner of the Dallas Cowboys football team, Jerry Jones. With the three acquisitions, Northern Oil is spending $382.2 million on new properties.

The Minnetonka-based company also said Thursday it plans to increase its dividend - which was initiated in May - by 33% during the third quarter to 6 cents a common share.


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