Northern Oil and Gas, Inc. (NOG) Closes On Equity Offering
Northern Oil and Gas, Inc. closed on its direct registered offering of 6.5 million shares of its common stock. The company sold the shares at a price of $9.12, and received $56.2 million in net proceeds. Northern Oil and Gas, Inc. said it would use the funds for working capital, to repay borrowings on its credit line, and possibly pursue acquisitions if any attractive assets could be found. Northern Oil and Gas, Inc. is an exploration and production company headquartered in Wayzata, Minnesota. The company has three main areas of operations: Bakken Shale - Northern Oil and Gas has 70,000…