SEC Contract Filing

Filing Date: 2021-02-11

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d129008dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><I>Execution Version </I></B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Northern Oil and Gas, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>$550,000,000 8.125% Senior Notes due 2028 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Purchase Agreement </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">February&nbsp;8, 2021 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">BofA Securities, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As representative of the several Initial Purchasers listed in Schedule I hereto </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">One Bryant Park </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10036 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Northern Oil and Gas,
Inc. a Delaware corporation (the &#147;<U>Company</U>&#148;), proposes to issue and sell to the several initial purchasers listed in Schedule I hereto (the &#147;<U>Initial Purchasers</U>&#148;), for whom you are acting as representative (the
&#147;<U>Representative</U>&#148;) an aggregate of $550&nbsp;million principal amount of its 8.125% Senior Notes due 2028 (the &#147;<U>Securities</U>&#148;). The Securities will be issued pursuant to an indenture (the &#147;<U>Indenture</U>&#148;)
to be dated the Closing Date (as defined below) among the Company, the guarantors party thereto and Wilmington Trust, National Association, as trustee (the &#147;<U>Trustee</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">The Securities will be sold to the Initial Purchasers without being registered under the Securities Act of 1933, as amended (the
&#147;<U>Securities Act</U>&#148;), in reliance upon an exemption therefrom. The Company has prepared a preliminary offering memorandum dated February&nbsp;3, 2021 (the &#147;<U>Preliminary Offering Memorandum</U>&#148;) and will prepare an offering
memorandum dated the date hereof (the &#147;<U>Final Offering Memorandum</U>&#148;) setting forth information concerning the Company and the Securities. Copies of the Preliminary Offering Memorandum have been, and copies of the Final Offering
Memorandum will be, delivered by the Company to the Initial Purchasers pursuant to the terms of this purchase agreement (the &#147;<U>Agreement</U>&#148;). The Company hereby confirms that it has authorized the use of the Preliminary Offering
Memorandum, the other Time of Sale Information (as defined below) and the Final Offering Memorandum in connection with the offering and resale of the Securities by the Initial Purchasers in the manner contemplated by this Agreement. Capitalized
terms used but not defined herein shall have the meanings given to such terms in the Preliminary Offering Memorandum. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">At or prior to the
time when sales of the Securities were first made (the &#147;<U>Time of Sale</U>&#148;), the Company had prepared the following information (collectively, the &#147;<U>Time of Sale Information</U>&#148;): the Preliminary Offering Memorandum, as
supplemented and amended by the written communications listed on Annex A hereto. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company intends to use the proceeds of the offering of the Securities to (i)&nbsp;fund a
portion of the cash purchase price to acquire (the &#147;<U>Acquisition</U>&#148;) certain oil and gas properties, interests and related assets from Reliance Marcellus LLC (&#147;<U>Reliance</U>&#148;), (ii) repay a portion of its outstanding
borrowings under its revolving credit facility, repurchase or redeem all of its outstanding Second Lien Notes due 2023 and repay the full amount outstanding under the VEN Bakken Note (collectively, the &#147;<U>Refinancing</U>&#148;), (iv) pay any
premiums, fees and expenses related to the foregoing and (v)&nbsp;if any remainder, for general corporate purposes. The remaining portion of the cash purchase price for the Acquisition will be funded with the proceeds of the Company&#146;s recently
announced equity offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As used herein, the term &#147;<U>Transactions</U>&#148; means (i)&nbsp;the offer and sale of the Securities,
(ii)&nbsp;the Refinancing, (iii)&nbsp;the Acquisition and (iv)&nbsp;the payment of all premiums, fees and expenses payable by the Company related to the foregoing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">The Company hereby confirms it