Northern Oil and Gas and Infinity Natural Resources Adjust Ownership in Antero Assets Acquisition
Northern Oil and Gas (NOG) and Infinity Natural Resources (INR) announced an ownership adjustment to the pending joint acquisition of the Ohio Utica assets of Antero Resources Corporation (AR) and Antero Midstream Corporation (AM). On February 19, 2026, NOG and INR announced an adjustment of ownership interests in their pending joint acquisition of interests in the Ohio Utica Shale Upstream and Midstream Assets from Antero Midstream Corporation and Antero Resources, Inc. ("Antero"). At closing, NOG will acquire a 40% stake in the Assets for $480 million, the cash purchase price is subject to customary closing adjustments and remains on the same pro rata economic terms as originally announced, with INR increasing its stake in the joint acquisition to 60%. NOG and INR continue to anticipate that the transaction will close by the end of the first quarter of 2026. NOG will fund the acquisition with cash on hand, operating free cash flow and borrowings from NOG's reserves-based lending facility.
