Wayzata-based Northern Oil and Gas, Inc. last week announced it was realigning executive job responsibilities in an effort to “optimize the daily management of the company” and better position it to capitalize on growth opportunities.
Effective July 5, Brandon Elliott switched from president to CEO, and Mike Reger switched from CEO to president. One of the company’s founders, Reger plans to now focus his extensive knowledge of the Williston Basin solely on acquisition opportunities. Elliott is now responsible for the day-to-day operations of the company and investor relations with Northern’s CFO, Nick O’Grady.
“Since returning to Northern, Brandon and I have continued our longstanding conversation about how to best position the company for success,” Reger said in a news release. “As a significant shareholder, I want my focus to be where I can add the most value to Northern and its shareholders, which is to allocate 100 percent of my time to growing acreage and production through accretive acquisitions. Brandon will focus on day-to-day operations and investor relations – two areas in which he excels. The Board and I have agreed to this re-alignment of responsibilities and title swap, and we are unanimous in our belief that it will further drive our growth strategy and enhance shareholder value.”
Northern Oil and Gas is a publicly traded exploration and production company with a core area of focus in the Williston Basin, Bakken Formation and Three Forks play in North Dakota and Montana.