Kirkland & Ellis advised Northern Oil and Gas, Inc. (NYSE American: NOG) on its decision to acquire the Williston Basin properties of VEN Bakken, LLC. The assets to be acquired are expected to produce approximately 6,600 barrels of oil equivalent (BOE) per day (2-stream) during the second half of 2019 and consist of approximately 18,000 net acres containing 86.9 net producing wells, 2.7 net wells in process, and 47.5 net undrilled locations across the heart of the Williston Basin. Total consideration to be paid to the seller consists of $165 million in cash, a $130 million 6 percent three-year senior unsecured note due in 2022 and approximately 5.6 million shares of common stock. The cash and note portions of the consideration are subject to typical closing and post-closing adjustments. The transaction is expected to close and be effective on July 1, 2019.