Kirkland & Ellis advised Northern Oil and Gas, Inc. (NOG) on a definitive agreement to acquire a 36.7% working interest in oil and gas leases and wells and associated midstream assets and infrastructure in Midland County, Texas, from Midland-Petro D.C. Partners, LLC for a purchase price of $330 million in cash, subject to typical closing adjustments, and the entry into a development program for the drilling of new wells. NOG expects to fund the acquisition with cash on hand, operating free cash flow and borrowings from NOG’s revolving credit facility.
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