Northern Oil and Gas, Inc. (NOG)

[eFinanceMarkets]

Akradi increases active stake in Northern Oil & Gas

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.