Northern Oil & Gas Inc., a Minnesota-based oil and gas exploration firm, is shuttering its Denver office only a year after it announced its opening.
Northern disclosed the closing of the office in an Oct. 2 filing with the U.S. Securities and Exchange Commission. On Sept. 30, (NYSE: NOG) laid off its executive vice president of land, Darrell Finneman, as part of the cost-reduction effort.
Two people worked at the Denver office, at 1775 Sherman St., said Brandon Elliott, executive vice president of corporate development and strategy.
Elliott cited “low commodity prices” as a chief reason for the scale-back in operations.
“We didn’t feel like our shareholders wanted to continue to spend to keep that office open,” he said.
Northern announced the opening of the Denver office .
Alicia Wallace: 303-954-1939, awallace@denverpost.com or @aliciawallace
