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NOG Expands Credit Facility

1. NOG's borrowing base redetermination raised commitment amount to $1.6 billion. 2. Company's borrowing base remains steady at $1.8 billion with 20 banks.

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FAQ

Why Bullish?

The increase in elected commitment reflects improved creditworthiness. Historically, similar upgrades in credit metrics have positively influenced NOG's stock price.

How important is it?

The announcement signals financial stability and confidence in NOG's operations, likely attracting investor interest.

Why Short Term?

Investors may react quickly to favorable credit changes, impacting price. Past redeterminations have shown immediate market responses.

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PEYCDEVDVN
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced the completion of its semi-annual borrowing base redetermination under its reserves-based revolving credit facility (the “Facility”). In connection with the redetermination, the elected commitment amount increased from $1.5 billion to $1.6 billion and the borrowing base remains unchanged at $1.8 billion. The Company's bank group now includes 20 banks with the addition of CIBC Capital Ma.

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