02:09 PM EST, 12/20/2024 (MT Newswires) -- (Updates with additional details in the second and third paragraphs and requests for comment in the fifth paragraph.)

Northern Oil and Gas ( NOG ) has made at least two acquisition offers for Granite Ridge Resources ( GRNT ) , Reuters reported Friday, citing people familiar with the matter.

Northern Oil's latest offer was about a 20% premium to Granite's stock price, the report added.

Although Granite's management has rebuffed the offers so far, Northern Oil remains interested in a deal and could sweeten its bid next year, according to the news outlet.

Granite declined comment, and Northern did not respond to a request for comment, Reuters said.

The companies didn't immediately respond to requests for comment from MT Newswires.

Northern Oil shares fell 1.3% in recent Friday trading, and Granite jumped 9.2%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 35.28, Change: -0.75, Percent Change: -2.07