NOG buys stake in Parallax Duvernay assets

[출처/시간] Reuters - 8:10 AM ET, 05/26/2026

May 26 (Reuters) - Northern Oil and Gas said on Tuesday ?it would buy a 25% ?stake in Parallax Energy Operating’s light-oil assets ?in Canada's Duvernay shale for an initial purchase price of about C$350 million ($253.60 million).

The non-operated stake will mark NOG’s entry into Canada and expand its inventory of low-cost drilling locations. Duvernay shale remains less developed than major U.S. oil basins such as the Permian and contains large undeveloped drilling inventory.

* Northern Oil and Gas said ?it will pay about C$113 million in stock, with the ?remainder ?in cash. It also agreed to pay an additional ?C$25 million, in cash or stock, in early 2028 if oil prices meet certain targets through 2027.

* The ?assets include ?more than 500 high-quality drilling locations with low ?breakeven costs, and are largely operated by Parallax under ?a long-term development agreement with multi-year drilling commitments, NOG ?added.

* ?The company said it has ?formed a wholly owned Canadian subsidiary, NOG Energy Canada ?Ltd, and expects to close the deal late in the second quarter of 2026.

* NOG said it ?expects the assets to ?produce about 4,000 boepd in ?2027 and revised its 2026 production guidance to 143,000-148,000 boepd ?from its prior outlook of 139,000-143,000 boepd. ($1 = 1.3801 Canadian dollars) (Reporting by Varun Sahay ?in Bengaluru; Editing ?by Joyjeet Das)