Minneapolis-based Northern Oil and Gas said this week it made significant progress in its ground game acquisitions in third quarter across its platform in four basins, including Permian Basin in west Texas. Northern’s acquisition included 22 transactions and 3 trades that added more than 2,500 net acres and 5.8 net wells for $59.8 million. The company also operates in Appalachian, Unita and Williston basins.
Northern also announced Tuesday “better than expected well performance across all four active basins” with 3Q production of 131,000 boed (55 percent oil). Annual production for 2025 is forecast to increase to a range of 132,500 to 134,000 boed (75,000 to 76,500 b/d of oil). This year NOG has deployed $95.8 million across more than 50 ground game transactions to add 11.6 net wells and 6,100 net acres. Northern tightened annual capital expenditure guidance to a range of $950 million to $1.025 billion.
Nick O’Grady, CEO, said, “Well performance on our base assets continues to exceed expectations across the board, driving increased guidance. This, combined with a robust backlog of growth opportunities, continues to set NOG up well as we head into 2026.”
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