Northern Oil inks $154M deal for North Dakota oil properties
October 8, 2021
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.