Northern Oil and Gas, Inc. (NYSE: NOG) has priced a private offering of $500 million in aggregate principal amount of 7.500% senior notes due 2034 at par, according to a press release from the company.

The offering is being made to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933 and is expected to close on August 26, 2026, subject to customary closing conditions.

The company said it intends to use the net proceeds to repay a portion of outstanding borrowings under its revolving credit facility, with any remainder allocated to general corporate purposes.

The notes will not be registered under the Securities Act or any state securities laws and may only be offered to persons reasonably believed to be qualified institutional buyers under Rule 144A or non-U.S. persons under Regulation S.