Welcome to our dedicated page for Northern O & G news (Ticker: NOG), a resource for investors and traders seeking the latest updates and insights on Northern O & G stock.
Northern Oil and Gas, Inc. reports developments tied to its strategy of acquiring and investing in non-operated minority working and mineral interests in hydrocarbon-producing basins within the contiguous United States. Company updates commonly cover oil and natural gas production, commodity-price hedging, lease operating costs, capital expenditures and cash flow measures.
Recurring news also includes acquisitions of upstream and midstream assets, ground game transactions that add acreage and wells, common-stock dividends, equity offerings and other capital actions. Basin exposure includes areas such as the Williston, Permian, Uinta and Appalachian regions, with company materials also referencing Ohio Utica assets.
Northern Oil and Gas (NYSE: NOG) has announced an updated long-term base dividend growth plan, projecting a 23% average quarterly dividend increase through year-end 2023. For Q2 2022, the company plans to recommend a dividend of $0.19 per share, representing a 36% increase from Q1. Additionally, NOG has repurchased approximately $26.3 million of its Series A Preferred Stock, reducing outstanding obligations and share count. NOG remains confident in achieving less than 1.0x leverage in 2022, emphasizing strong free cash flow.
Northern Oil and Gas (NOG) reports a strong fourth quarter & full year 2021, with production averaging 64,155 Boe per day, up 11% from Q3. Q4 GAAP cash flow from operations reached $133.1 million, a 29% rise. The company achieved Free Cash Flow of $70.7 million, a 28% increase, and closed the Veritas acquisition for $419.4 million. For 2022, NOG expects production of 70,000 - 75,000 Boe per day with planned capital expenditures of $350 - $415 million. The company announced a Base Dividend Growth plan, aiming for a 20% average dividend increase per quarter through 2023.
Northern Oil and Gas (NYSE: NOG) announced a change in the timing for its fourth quarter and year-end 2021 earnings conference call. The call will now take place on February 25, 2022, at 8:00 a.m. Central Time. Interested participants can join via phone or through the company's webcast. Replay information is also provided, allowing access until March 4, 2022. Northern Oil and Gas focuses on investing in non-operated minority working and mineral interests in oil and gas properties in the U.S.
Northern Oil and Gas (NYSE American: NOG) has announced its uplisting to the New York Stock Exchange (NYSE), effective February 17, 2022. The company’s common stock will now trade under the same symbol, NOG. CFO Chad Allen highlighted this move as a significant milestone in their transformation, aimed at establishing NOG as a diversified, low-leverage entity focused on free cash flow and dividends. This transition to the NYSE provides a broader platform for growth.
Northern Oil and Gas, Inc. (NOG) announced it will release its fourth quarter and year-end 2021 financial results on February 25, 2022, prior to market opening. The company will conduct a conference call on the same day at 9:00 a.m. Central Time for discussing these results. Investors and analysts can join the call via phone or via webcast. A replay will be accessible until March 4, 2022. NOG focuses on investments in non-operated minority working and mineral interests in U.S. oil and gas properties.
Northern Oil and Gas (NOG) has declared a cash dividend of $0.14 per share, marking a 75% increase from the previous $0.12 dividend. This dividend is payable on April 29, 2022, to stockholders of record as of March 30, 2022. The company reported a year-end 2021 cash balance of $9.5 million and $55 million outstanding on its Revolving Credit Facility. The increase in dividend reflects strong free cash flow and a positive business outlook.
Northern Oil and Gas (NOG) has successfully closed its acquisition of non-operated Permian Basin assets from Veritas Energy for a total of $419.4 million. This strategic move, which is the largest in NOG's history, is aimed at diversifying the company's asset base and enhancing shareholder returns. The deal includes approximately 1.94 million common stock warrants with an exercise price of $28.30 per share. CEO Nick O’Grady emphasized the acquisition's significance in achieving a low-leverage, diversified financial structure.
Northern Oil and Gas, Inc. (NYSE American: NOG) has announced a long-term base dividend growth plan aimed at enhancing returns for investors. The management emphasizes a commitment to providing strong capital returns while pursuing growth opportunities. The strategy is part of Northern's effort to maintain a diversified, low-leverage business model, focusing on delivering superior total returns. Additional details can be accessed in their presentation available on the company’s website.
Northern Oil and Gas, Inc. (NYSE American: NOG) has announced a significant management promotion and a new addition to its Board of Directors. Adam Dirlam has been promoted to President, reflecting his increasing responsibilities during a pivotal year for the company. Additionally, Jennifer Pomerantz, former CEO of American Natural, joins the board, bringing extensive experience in energy and investment banking. This strategic leadership shift aims to enhance Northern's operational execution and growth trajectory in the oil and gas sector.
Northern Oil and Gas announced a public offering of 10,000,000 shares of common stock priced at $20.00 per share, with 9,500,000 shares offered by the Company and 500,000 by Selling Stockholders. The offering, which includes a 30-day option for underwriters to purchase an additional 1,500,000 shares, is expected to close on November 22, 2021. Proceeds will fund the acquisition of non-operated assets in the Permian Basin. The Company will not receive proceeds from the Selling Stockholders, whose sales are for tax planning and charitable purposes.