Northern Oil and Gas, Inc. Announces Change to Management Team
WAYZATA, Minn., Oct. 1, 2012
WAYZATA, Minn., Oct.1, 2012 /PRNewswire/ --Northern Oil and Gas, Inc. (NYSE
MKT: NOG) (the "Company" or "Northern Oil") today announced that Ryan R.
Gilbertson, Northern Oil's President, has resigned to devote more time to
other interests, including charitable activities and various business
opportunities. In connection with his resignation, which is effective October
1, 2012, Mr. Gilbertson entered into a consulting agreement pursuant to which
he is expected to serve as an advisor to the Company's Board of Directors
through October 2014. Northern Oil does not currently expect to fill the
position of President at the Company.
Mr. Gilbertson commented, "After careful consideration, I have decided that
the time has come to spend more time pursuing personal interests. I am
grateful for all the experiences Northern Oil has given me and I am confident
in the future of the Company and the current team's ability to maximize
shareholder value. I continue to be a substantial shareholder of Northern Oil
and I look forward to providing perspective in my new role as a consultant to
Michael Reger, Chairman and Chief Executive Officer, commented, "Ryan has been
a tremendous business partner to me as we have built Northern Oil into
approximately the 10^th largest acreage holder and producer in the prolific
Bakken oil fields of North Dakota and Montana. Together, we have grown
Northern Oil's acreage position to approximately 180,000 net acres in North
Dakota and Montana, and its production to more than 11,000 barrels of oil
equivalent per day."
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. 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.
More information about Northern Oil and Gas, Inc. can be found at
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995.All statements other
than statements of historical facts included in this report are
forward-looking statements. Risks, uncertainties and other factors that could
impact the exchange offer include, but are not limited to, those described in
detail in the Company's SEC filings under the heading "Risk Factors." The
Company has based these forward-looking statements on its current expectations
and assumptions about future events. While management considers these
expectations and assumptions to be reasonable, they are inherently subject to
significant business, economic, competitive, regulatory and other risks,
contingencies and uncertainties, most of which are difficult to predict and
many of which are beyond the Company's control.
SOURCE Northern Oil and Gas, Inc.
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