Northern increases borrowing base under its revolving credit facility

Northern Oil and Gas Inc.

Northern Oil and Gas Inc. (NYSE MKT: NOG) have secured an increase to the company’s 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 $500 million to $550 million. The next redetermination of the borrowing base is scheduled for April 1, 2015.

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

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