Northern Oil & Gas jumps 12% on positive drilling update

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Energy company Northern Oil & Gas Inc. (AMEX:NOG) is up 12% today after reporting ahead of the opening it had successfully completed three wells in North Dakota’s Bakken development. The discovery brings Northern’s total number of producing wells to 11.   

“We continue to accelerate our participation in successful North Dakota Bakken development, providing solid production results,” said CEO Michael Reger. “With over 70 permits pending, our net production should continue to grow at an increasing rate in the second half of the year.”

In today’s trading, shares are at $12.48 at 10:03 a.m. ET, up $1.37 from Friday’s close. Shares of the company have ranged from $6.95 to $16.40 during the past 52 weeks.

For detailed price information and recent news stories about Northern Oil & Gas Inc., click NOG.