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Northern Oil and Gas increases borrowing base

Northern Oil and Gas Inc.

Northern Oil and Gas Inc. (NYSE MKT: NOG) reports an increase to the borrowing base under its revolving credit facility agreement with its bank syndicate. The syndicate of 13 lenders completed its regular semi-annual redetermination of the borrowing base, resulting in an increase from $450 million to $500 million. 

The next redetermination of the borrowing base is scheduled for Oct. 1.

Northern Oil and Gas is an exploration and production company with a core area of focus in the Williston Basin Bakken and Three Forks shale play in North Dakota and Montana. 

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