04:18 PM EDT, 06/12/2025 (MT Newswires) -- Northern Oil and Gas ( NOG ) said Thursday it plans to offer $150 million of additional 3.625% convertible senior notes due 2029 in a private offering, subject to market conditions.

The company said the new notes will be issued under the same indenture as the $500 million of 3.625% convertible senior notes due 2029, which were issued in October 2022.

Initial purchasers will be given an option to buy up to an additional $22.5 million of the new notes, Northern said.

The company plans to use part of the net proceeds to fund the cost of entering into capped call deals, and in addition, it will use part of the net proceeds to buy back shares in privately negotiated deals.

Any remaining net proceeds will be for general corporate purposes, it said.