07:37 AM EDT, 10/02/2024 (MT Newswires) -- Northern Oil and Gas ( NOG ) said Wednesday it has completed the acquisition of Uinta Basin assets from XCL Resources Tuesday.

The company paid $511.2 million for the assets that it acquired jointly with SM Energy ( SM ) , which will operate all the assets, Northern Oil added.

Northern Oil said it financed the assets in part by a $25.5 million deposit paid at signing in June.

Shares of Northern Oil were up 1.6% in recent Wednesday premarket activity, while SM Energy's ( SM ) stock rose nearly 2%.