Why These Energy Stocks are Losing This Week

2. Northern Oil and Gas, Inc. (NYSE:NOG) 

Share Price Decline Between Sep. 26 – Oct. 3: 9.47%

Northern Oil and Gas, Inc. (NYSE:NOG) is the largest publicly traded, non-operated, upstream energy asset owner in the United States that engages in the acquisition, exploration, development, and production of oil and natural gas properties.

Northern Oil and Gas, Inc. (NYSE:NOG) slumped this week after a decline in the price of oil, with the WTI crude oil price falling by almost 8% to its 4-month low. The expectations of accelerated supply hikes by the OPEC+, coupled with a potential US government shutdown, have weighed down the market.

Northern Oil and Gas, Inc. (NYSE:NOG) recently issued $725 million in 7.875% Senior Notes due 2033, with interest payable semi-annually starting April next year. The company also announced that holders of over 97% of its 8.125% Senior Notes due 2028 have tendered their notes in response to the company’s tender offer. It accepted almost $685 million of these notes for payment using proceeds from the new 2033 notes issuance.