NOG Responds to Reuters Article in Regard to Potential Business Combination
Northern Oil and Gas (NYSE: NOG) has issued a response to a Reuters article regarding a potential acquisition of Granite Ridge Resources. While NOG typically does not comment on acquisition rumors, the company felt compelled to address this specific situation. As the largest publicly traded dedicated non-operator, NOG confirmed it regularly evaluates numerous acquisition opportunities and frequently sends expressions of interest. However, the company explicitly stated it is not currently engaged in formal negotiations to acquire Granite Ridge.
Northern Oil and Gas (NYSE: NOG) ha rilasciato una risposta a un articolo di Reuters riguardante una potenziale acquisizione di Granite Ridge Resources. Sebbene NOG di solito non commenti le voci di acquisizione, l'azienda ha ritenuto opportuno affrontare questa situazione specifica. In quanto maggiore operatore pubblico dedicato non-operativo, NOG ha confermato di valutare regolarmente numerose opportunità di acquisizione e di inviare frequentemente manifestazioni di interesse. Tuttavia, l'azienda ha dichiarato esplicitamente di non essere attualmente coinvolta in negoziazioni formali per acquisire Granite Ridge.
Northern Oil and Gas (NYSE: NOG) ha emitido una respuesta a un artículo de Reuters sobre una posible adquisición de Granite Ridge Resources. Si bien NOG normalmente no comenta sobre rumores de adquisiciones, la compañía sintió la necesidad de abordar esta situación específica. Como el mayor operador público dedicado no operador, NOG confirmó que evalúa regularmente numerosas oportunidades de adquisición y envía frecuentemente expresiones de interés. Sin embargo, la empresa declaró explícitamente que no está actualmente involucrada en negociaciones formales para adquirir Granite Ridge.
노던 오일 앤 가스(NYSE: NOG)는 그라나이트 리지 리소스의 잠재적 인수에 관한 로이터 기사에 대한 응답을 발표했습니다. NOG는 일반적으로 인수 소문에 대해 댓글을 달지 않지만, 이 특정 상황에 대해 언급할 필요가 있다고 느꼈습니다. 가장 큰 비운영 공공 기업인 NOG는 정기적으로 수많은 인수 기회를 평가하고 자주 관심 표시를 보낸다고 확인했습니다. 그러나 회사는 현재 그라나이트 리지를 인수하기 위한 공식적인 협상에 참여하고 있지 않다고 명확히 밝혔습니다.
Northern Oil and Gas (NYSE: NOG) a publié une réponse à un article de Reuters concernant une éventuelle acquisition de Granite Ridge Resources. Bien que NOG ne commente généralement pas les rumeurs d'acquisition, l'entreprise a estimé nécessaire de s'adresser à cette situation spécifique. En tant que plus grand opérateur public dédié non-opérateur, NOG a confirmé qu'il évalue régulièrement de nombreuses opportunités d'acquisition et envoie fréquemment des manifestations d'intérêt. Toutefois, l'entreprise a clairement déclaré qu'elle n'est actuellement pas impliquée dans des négociations formelles pour acquérir Granite Ridge.
Northern Oil and Gas (NYSE: NOG) hat auf einen Artikel von Reuters über eine mögliche Übernahme von Granite Ridge Resources reagiert. Während NOG normalerweise keine Kommentare zu Übernahmegerüchten abgibt, sah sich das Unternehmen veranlasst, diese spezifische Situation zu klären. Als größter börsennotierter dedizierter Nichtbetreiber bestätigte NOG, dass es regelmäßig zahlreiche Übernahmemöglichkeiten bewertet und häufig Interessenbekundungen sendet. Das Unternehmen erklärte jedoch ausdrücklich, dass es derzeit nicht in formelle Verhandlungen zur Übernahme von Granite Ridge engagiert ist.
- Company maintains active pipeline of acquisition opportunities as largest publicly traded non-operator
- Forced to break company policy of not responding to rumors to address market speculation
Insights
This response from NOG to Reuters' article about potential M&A activity reveals critical insights into the company's corporate development strategy. The denial of formal negotiations with Granite Ridge, while confirming their active pursuit of acquisition opportunities, provides valuable context about NOG's growth approach as the largest public non-operator.
The statement strategically balances transparency with business prudence - acknowledging their regular practice of sending expressions of interest while maintaining negotiating leverage by noting many get rejected. With a
For investors, this communication style demonstrates mature corporate governance and careful management of market expectations. However, the need to issue this statement suggests potential information leaks in their M&A process that could impact future negotiations. The market should focus less on this specific denied combination and more on NOG's confirmed active pursuit of growth opportunities.
As the largest publicly traded dedicated non-operator, NOG has a large pipeline of acquisition opportunities and the Company frequently sends expressions of interest to acquire assets or businesses in order to evaluate and conduct due diligence on potential opportunities. Many of these requests to conduct diligence are rejected. The Company is not currently engaged in formal negotiations to acquire Granite Ridge.
ABOUT NOG
NOG is a real asset company with a primary strategy of acquiring and investing in non-operated minority working and mineral interests in the premier hydrocarbon producing basins within the contiguous
SAFE HARBOR
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933, as amended (the “Securities Act”), and the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical facts included or referenced in this press release regarding NOG’s dividend plans and practices (including timing, amounts and relative performance), financial position, business strategy, plans and objectives for future operations, industry conditions, cash flow, and borrowings are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond NOG’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in NOG’s capitalization, changes in crude oil and natural gas prices; the pace of drilling and completions activity on NOG’s properties and properties pending acquisition; NOG’s ability to acquire additional development opportunities; the projected capital efficiency savings and other operating efficiencies and synergies resulting from NOG’s acquisition transactions; integration and benefits of property acquisitions, or the effects of such acquisitions on NOG’s cash position and levels of indebtedness; changes in NOG’s reserves estimates or the value thereof; general economic or industry conditions, nationally and/or in the communities in which NOG conducts business; changes in the interest rate environment or market dividend practices; legislation or regulatory requirements; conditions of the securities markets; NOG’s ability to raise or access capital; changes in accounting principles, policies or guidelines; and financial or political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting NOG’s operations, products, services and prices. Additional information concerning potential factors that could affect future plans and results is included in the section entitled “Item 1A. Risk Factors” and other sections of NOG’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as updated from time to time in amendments and subsequent reports filed with the SEC, which describe factors that could cause NOG’s actual results to differ from those set forth in the forward-looking statements.
NOG has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond NOG’s control. You are urged not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Except as may be required by applicable law or regulation, NOG does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241220289116/en/
Evelyn Leon Infurna
Vice President of Investor Relations
952-476-9800
ir@noginc.com
Source: Northern Oil and Gas, Inc.
FAQ
Is NOG currently in negotiations to acquire Granite Ridge Resources?
What is NOG's typical policy regarding acquisition rumors?
How does NOG typically approach potential acquisitions?