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Akradi increases active stake in Northern Oil & Gas

Published 06/07/2017, 04:15 PM
© Reuters.  Akradi increases active stake in Northern Oil & Gas
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  • Shareholder Bahram Akradi discloses an increased active stake in Northern Oil & Gas (NYSEMKT:NOG) to 9.71% and a letter sent to Chairman Richard Weber discussing a new strategy for the company.
  • Akradi says NOG's goal should be to become the largest owner of non-operating properties in the Bakken/Three Forks region, and says the company should divest from its non-core assets to further increase its liquidity and ability to deploy capital to non-operating properties and acreage swaps.
  • Akradi has been steadily increasing his ownership during 2017 after opening the year with a ~5% position.
  • Now read: ConocoPhillips (NYSE:COP) Doing All The Right Things


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