NOG Expands to Canada, Pembina Advances NGL Plant
Midstream and E&P companies make moves in Canada as Bakken's Northern Oil and Gas enters the Duvernay shale play.
Northern Oil and Gas (NOG) is expanding north of the border with a major acquisition in the Canadian Duvernay shale, according to a report from Rigzone. The Minnesota-based company, a prominent non-operating interest owner in the Bakken, signed a deal to acquire a 25 percent stake in light-oil assets from Parallax for an initial price of approximately $259 million. This transaction marks NOG's formal entry into the Canadian market.
In related midstream news, Calgary-based Pembina Pipeline Corporation has approved a new natural gas liquids (NGL) extraction plant project, Rigzone reported. The company decided to proceed with a new straddle plant that will extract NGLs using its existing rights on the Yellowhead Pipeline system. Such infrastructure developments are critical for processing and moving hydrocarbons to market.
Separately, Monumental Energy raised $2.2 million through a share offering, with part of the proceeds designated to fund additional oil and gas workover wells in New Zealand, according to Rigzone. This development highlights ongoing capital activity in the global energy sector.
For Bakken operators and royalty owners, NOG's expansion into the analogous Duvernay shale underscores the continued pursuit of tier-one light-oil assets by experienced Bakken players. The move diversifies NOG's portfolio while applying its non-operating model to a new basin. Meanwhile, Pembina's new NGL project reflects ongoing midstream investment to support hydrocarbon production, a key factor for overall basin economics.
These developments occur as the North Dakota energy sector maintains its focus on operational efficiency and strategic growth. Activity by companies with strong Bakken ties often signals confidence in the long-term outlook for light-oil plays.
Source
Rigzone reports from May 28, 2026.
