SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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|Item 1.01|| |
Entry into a Material Definitive Agreement.
On May 27, 2021, Northern Oil and Gas, Inc. (the “Company”) entered into a third amendment (the “Amendment”) to its Second Amended and Restated Credit Agreement, dated November 22, 2019 (the “Credit Agreement”), governing the Company’s revolving credit facility with Wells Fargo Bank, N.A., as administrative agent, and the lenders party thereto. Pursuant to the Amendment, (i) the Company’s semi-annual borrowing base redetermination was completed and the borrowing base under the credit facility was increased to $725.0 million and (ii) the lenders agreed to an aggregate elected commitment amount of $660.0 million. The aggregate elected commitment amount may be increased semi-annually upon each scheduled borrowing base redetermination on April 1 and October 1, and up to two times between each scheduled redetermination. The next redetermination of the borrowing base is scheduled for October 1, 2021.
The Amendment also amends certain other provisions of the Credit Agreement, including among other things to update provisions regarding payments made in error and the implementation of a LIBOR benchmark replacement. The foregoing description of the Amendment is qualified in its entirety by reference to such Amendment, a copy of which is filed herewith as Exhibit 10.1 and is incorporated herein by reference.
|Item 2.03.|| |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 is hereby incorporated by reference into this Item 2.03.
|Item 9.01.|| |
Financial Statements and Exhibits.
|10.1||Third Amendment to the Second Amended and Restated Credit Agreement, dated May 27, 2021, by and among Northern Oil and Gas, Inc. and Wells Fargo Bank, National Association and the Lenders party thereto.|
|104||The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.|
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
|Date: June 1, 2021||NORTHERN OIL AND GAS, INC.|
Erik J. Romslo
Chief Legal Officer and Secretary