NOG: We Now Have Pricing -- $20 / Share -- Connected To The Recently-Announced Permian Deal -- November 17, 2021

Locator: 10002PERMIAN.

Re-posting with new link for pricing of new shares.

NOG: Permian Basin expansion, link here to press release -- and Hart Energy here --

• will acquire non-operated properties in the Permian Basis from entities affiliated with Veritas Energy, LLC
• assets primarily located in Lea and Eddy counties, NM, and Loving, Reeves, Ward and Winkler counties, TX
• deal:
• $406.5 million in cash
• 1.9 million common equity warrants; exercise price of $28.30
• 31.7 net producing wells
• 5.6 net wells in process
• 4.0 AFE'd or permitted net wells
• 40.8 risked net future development locations
• assets managed by Mewbourne, Devon, COP and EOG
• should close 1Q22
• current production:
• 11,500 boepd
• on closing, looking to increase quarterly dividend 50% to 12 cents per share, from current 8 cents per share, marking the third increase in NOG's dividend since its initiation in 2Q21
• back of the envelope: $406.5 million + warrants / 11,500 boepd = $42,000 / flowing bbl

NOG offering, link here: 10 million shares. NOG trading around $23.

Update, November 17, 2021: NOG announces pricing at $20/share. Link to press release here.