Texas billionaire buys big stake in Northern Oil and Gas

Northern Oil and Gas, which is coping with a downturn in its business and fired its CEO last week, could be looking at a potential takeover, too.The Star Tribune reports that companies affiliated with Texas oil tycoon and hotelier Robert Rowling have amassed a 19 percent stake in Wayzata-based Northern Oil, and also control much of the energy firm’s unsecured debt.

Source: Texas billionaire buys big stake in Northern Oil and Gas – Minneapolis / St. Paul Business Journal

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