Minneapolis-based Northern Oil and Gas said Wednesday it agreed to acquire assets in Midland Basin from Tulsa-based Laredo Petroleum for $110 million. The assets in Howard County include 1,600 acres, 6.4 net producing wells and 8 net undeveloped locations – most operated by SM Energy. Production at closing in October is expected to be 1,600 boed (87 percent oil).
Adam Dirlam, president, said, “In our second meaningful bolt-on acquisition of 2022, we have found a high-quality prospect that continues to grow our Midland Basin position.”