Northern Oil and Gas, Inc: Update following rating outlook change to stable
NOG has moderate leverage, while its commodity hedges should support credit metrics and enable the company to generate free cash flow together with spending restraint in 2020.Northern Oil and Gas is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties, primarily in the Bakken and Three Forks formations within the Williston Basin in North Dakota and Montana. The company's primary focus is oil exploration and production through non-operated working interests in wells drilled and completed in spacing units that include its acreage. As a non-operator, the company is able to diversify its investment exposure by participating in a number of gross wells, as well as entering into project areas by partnering with operating partners.
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