Northern Oil and Gas, Inc. Provides Operations Update and Increases Drilling and Production Guidance

Mar 28, 2011, 06:45 ET from Northern Oil and Gas, Inc.

WAYZATA, Minn., March 28, 2011 /PRNewswire/ -- 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

CROWFOOT #35-3031H

EOG

MOUNTRAIL, ND

8.38%

330

COWDEN #5404 13-35H

OASIS

WILLIAMS, ND

7.65%

1,594

EN-HEINLE #156-94-2536H-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 #154-93-2833H-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 #157-94-2635H-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

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 #163-93-1102H-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 #156-94-1324H-1

HESS

MOUNTRAIL, ND

9.38%

Awaiting Completion

EN-WEFALD #156-94-1324H-2

HESS

MOUNTRAIL, ND

9.38%

Drilling

EN-WEFALD #156-94-1324H-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

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 #154-93-2215H-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 #156-91-1720H-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 #156-90-2726H-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

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 #154-93-2833H-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 #154-93-2116H-2

HESS

MOUNTRAIL, ND

0.61%

Awaiting Completion

DEVON #5601 12-17H

OASIS

WILLIAMS, ND

0.56%

Awaiting Completion

EN-WILL TRUST B #157-94-2635H-1

HESS

MOUNTRAIL, ND

0.54%

Awaiting Completion

EN-WILL TRUST B #157-94-2635H-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

SOURCE Northern Oil and Gas, Inc.



RELATED LINKS

http://www.NorthernOil.com