Northern Oil & Gas Inc. said Tuesday Chief Executive Michael Reger has been terminated, effective immediately, and has ceased being a member of the oil and gas company’s board. Thomas Stoelk, who was served as chief financial officer since December 2011, was named interim CEO. The company said it has been evaluating “strategic alternatives to increase shareholder value,” given the challenges of operating in a lower commodity price environment. The company said it still has access to over $220 million under its revolving credit facility. The stock, which was still inactive in premarket trade, has tumbled 16% over the past three months, while the S&P 500 has gained 6%.
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