M&A Deal Summary

NOG Acquires Flywheel Bakken - Williston Basin Properties

On April 22, 2019, NOG acquired oil/gas exploration company Flywheel Bakken - Williston Basin Properties from Flywheel Energy

Acquisition Highlights
  • This is NOG’s 3rd transaction in the Oil/Gas Exploration sector.
  • This is NOG’s 3rd transaction in the United States.
  • This is NOG’s 1st transaction in Oklahoma.

M&A Deal Summary
Date 2019-04-22
Target Flywheel Bakken - Williston Basin Properties
Sector Oil/Gas Exploration
Buyer(s) NOG
Sellers(s) Flywheel Energy
Deal Type Divestiture

Target

Flywheel Bakken - Williston Basin Properties

Oklahoma City, Oklahoma, United States
Flywheel Bakken LLC - Williston Basin Properties produce approximately 6,600 barrels of oil equivalent (“Boe”) per day (2-stream) during the second half of 2019 and consist of approximately 18,000 net acres containing 86.9 net producing wells, 2.7 net wells in process, and 47.5 net undrilled locations across the heart of the Williston Basin.

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Buyer(S) 1

Buyer

NOG

Minnetonka, Minnesota, United States
Category Company
Sector Oil/Gas Exploration
Employees38
Revenue 1.9B USD (2023)
DESCRIPTION

NOG 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. NOG is based in Minnetonka, Minnesota.

DEAL STATS #
Overall 3 of 7
Sector (Oil/Gas Exploration) 3 of 7
Type (Divestiture) 2 of 3
State (Oklahoma) 1 of 1
Country (United States) 3 of 7
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-31 W Energy Partners

Dallas, Texas, United States

W Energy Partners is an E&P company that acquires non-operated working interests in acreage and producing wells in the core of the Williston Basin in North Dakota. W Energy Partners is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 Veritas Energy - Permian Basin Assets

Westworth Village, Texas, United States

Veritas Permian Basin Assets' current production is approximately ~9,100/11,500 Boe per day (2-stream/3- stream, ~60% oil), and Northern expects average production of more than 10,500 Boe per day in 2022 (2-stream, ~60% oil). The assets are primarily located in Lea and Eddy counties, NM, and Loving, Reeves, Ward, and Winkler counties, Texas.

Buy $419M

Seller(S) 1

SELLER

Flywheel Energy

Oklahoma City, Oklahoma, United States
Category Company
Founded 2017
Sector Oil/Gas Exploration
DESCRIPTION

Flywheel Energy Bakken is a privately held oil and natural gas exploration and production company. Flywheel Bakken is focused on the acquisition and development of large producing oil and gas assets primarily in the Rockies and Mid-Continent regions. Flywheel Energy was founded in 2017 and is based in Oklahoma City.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Oklahoma) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-06 LINN Energy - Williston Basin

United States

LINN Energy LLC - Williston Basin assets consist of approximately 20,000 net acres in North Dakota, South Dakota and Montana with estimated third quarter net production of 8,750 barrels of oil equivalent per day.

Buy -
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