Northern Oil & Gas, Inc. is an American independent energy company focused on the exploration and production of oil and natural gas resources. The company was founded in 2006 and is headquartered in Minnetonka, Minnesota. Northern Oil & Gas operates primarily in the Williston Basin of North Dakota and Montana, which is known for its significant shale oil reserves. They are listed on the New York Stock Exchange under the ticker symbol "NOG."
The company's primary business strategy revolves around acquiring and developing oil and gas properties through non-operating partnerships with leading exploration and production companies. This allows Northern Oil & Gas to participate in the development and production of oil and gas resources without incurring the full costs and risks associated with operations.
Northern Oil & Gas focuses on unconventional oil and gas plays, particularly in the Bakken and Three Forks formations within the Williston Basin. These formations have been a significant source of oil production in recent years, attracting industry attention and investment. By acquiring interests in wells operated by established industry players, Northern Oil & Gas leverages the expertise and resources of its partners while benefiting from the production revenues generated.
While Northern Oil & Gas is focused on unconventional oil and gas plays positions it to benefit from the continued development of shale resources in the Williston Basin. The company's success is dependent on its ability to acquire high-quality assets, maintain strong partnerships with operators, and effectively manage its production portfolio.