Item 1.01. Entry into a Material Definitive Agreement.
OnJuly 8, 2020 ,Northern Oil and Gas, Inc. (the "Company") entered into an amendment (the "Amendment") to its Second Amended and Restated Credit Agreement, datedNovember 22, 2019 (the "Credit Agreement"), governing the Company's revolving credit facility withWells Fargo Bank, N.A ., as administrative agent, and the lenders party thereto. Pursuant to the Amendment, the Company's semi-annual borrowing base redetermination was completed and the borrowing base under the credit facility was reduced to$660.0 million . As ofJune 30, 2020 , the Company had$568.0 million in outstanding borrowings under the credit facility. The next redetermination of the borrowing base is scheduled forOctober 1, 2020 . The Amendment also amends certain other provisions of the Credit Agreement, including among other things to limit the Company's ability to maintain excess cash liquidity without using it to reduce outstanding borrowings under the credit facility. A copy of the Amendment is attached hereto as Exhibit 10.1 and is incorporated herein by reference. The description of the Amendment in this report is a summary and is qualified in its entirety by the terms of the Amendment.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 is hereby incorporated by reference into this Item 2.03.
Item 9.01. Financial Statements and Exhibits.
Exhibit Number Description 10.1 First Amendment to the Second Amended and
Restated Credit Agreement, dated
July 8, 2020 , by and amongNorthern Oil and Gas ,
Inc. and
National Association and the Lenders party
thereto.
104 The cover page from this Current Report on Form
8-K, formatted in Inline XBRL
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