Item 1.01.  Entry into a Material Definitive Agreement

Source Company Press Release
Company Northern Oil & Gas, Inc
Tags Country: United States, Financing Activities: Debt Financing, Financing News
Date November 12, 2019

On November 8, 2019, Northern Oil and Gas, Inc. entered into an amendment (the “Amendment”) to its Amended and Restated Credit Agreement, dated October 5, 2018 (the “Credit Agreement”), governing the Company’s revolving credit facility with Royal Bank of Canada, as administrative agent, and the lenders party thereto. Pursuant to the Amendment, the Credit Agreement has been amended to (i) adjust the maximum ratio of total net debt to EBITDAX (as defined in the Credit Agreement) that the Company is permitted to maintain as of the end of any fiscal quarter to 3.75 to 1.00, and (ii) adjust the minimum current ratio (as defined in the Credit Agreement) that the Company is required to maintain as follows: 0.85 to 1.00 as of September 30, 2019; 0.65 to 1.00 as of December 31, 2019; 0.90 to 1.00 as of March 31, 2020; and 1.00 to 1.00 as of any subsequent fiscal quarter end.

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