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. (NYSE: NOG) generates a steady flow of news as it acquires and manages non-operated working and mineral interests in key U.S. oil and natural gas basins. The company’s press releases and SEC reports provide regular updates on production, acquisitions, financing and hedging activities tied to its crude petroleum and natural gas extraction focus.
On this page, readers can follow NOG news related to its positions in the Williston, Permian, Uinta and Appalachian basins, as well as its joint acquisition of upstream and midstream assets in the Utica shale of eastern Ohio with Infinity Natural Resources. Recent announcements have covered bolt-on royalty and mineral acquisitions in the Uinta Basin, numerous ground game transactions that add net acres and wells across multiple basins, and a large Ohio Utica transaction that includes both upstream properties and integrated gathering, compression and water systems.
NOG also issues frequent updates on its financial and capital structure. News items include quarterly financial and operating results, changes to annual production and capital expenditure guidance, the pricing and issuance of 7.875% senior notes due 2033, tender offers for 8.125% senior notes due 2028, and amendments to its reserves-based revolving credit facility. The company’s communications often highlight its use of commodity hedges, with detailed tables of oil, natural gas and basis derivatives.
Investors and followers of NOG can use this news feed to review earnings releases, acquisition announcements, hedging updates, dividend declarations and other company communications in one place. Regularly reviewing these items can help readers understand how NOG’s non-operated interests, acquisition activity, financing arrangements and risk management practices evolve over time.
Northern Oil and Gas reported a 106% increase in proved reserves to 252.3 million barrels of oil equivalent as of June 30, 2021, with a PV-10 value of $1.69 billion at SEC Pricing. This growth excludes contributions from a planned Permian acquisition expected to close in August. Jim Evans, EVP and Chief Engineer, emphasized the reserve report's conservative nature, reflecting limited future PUD locations. At current market prices, Northern's PV-10 value exceeds its enterprise value, indicating strong asset strength.
Northern Oil and Gas (NYSE American: NOG) will release its second quarter 2021 earnings on August 5, 2021, before market opening. A conference call is scheduled for the same day at 10:00 a.m. Central Time, where investors can join via phone or webcast. Replay details include a dial-in available until August 12, 2021, with the same Conference ID of 13721948. Northern focuses on investing in non-operated minority working and mineral interests in premier U.S. oil and gas basins.
Northern Oil and Gas (NOG) has priced its public offering at $17.50 per share, totaling 5,000,000 shares, with a potential additional 750,000 shares available to underwriters. The offering aims to fund a pending acquisition of non-operated oil and gas properties in the Permian Basin. The closing date is set for June 21, 2021, subject to customary conditions. Proceeds may also be used for repaying debts or general corporate purposes if necessary. Wells Fargo Securities serves as the lead manager for this offering.
Northern Oil and Gas (NYSE American: NOG) has initiated an underwritten public offering of 5,000,000 shares of its common stock, with an option for underwriters to purchase an additional 750,000 shares. The proceeds will primarily fund the cash purchase price of a pending acquisition of non-operated properties in the Permian Basin. If the acquisition does not close, funds may be used for general corporate purposes, including debt repayment. The offering details are filed under an effective shelf registration with the SEC.
Northern Oil and Gas (NYSE American: NOG) has announced agreements to acquire non-operated interests in 2,900 net acres in Reeves County, Texas, and Lea and Eddy Counties, New Mexico, for $102.2 million. The assets, producing approximately 2,200 Boe per day with projections to reach 3,700 Boe per day, are expected to generate over $100 million in cumulative free cash flow through 2025. The acquisition will be funded through a common equity offering and is expected to positively impact Northern's cash flow and accelerate its dividend strategy.
Northern Oil and Gas reported strong first-quarter results with $41.7 million in Free Cash Flow, exceeding internal expectations. Oil and natural gas sales reached $157.3 million, while Adjusted Net Income rose to $40.2 million or $0.62 per diluted share. Production averaged 38,417 Boe per day, a 7.5% increase from the previous quarter. The company also declared its first regular quarterly dividend of $0.03 per share. However, a substantial GAAP net loss of $90.4 million was reported due to a $128.6 million non-cash mark-to-market loss on derivatives.
Northern Oil and Gas has declared a cash dividend of $0.03 per share on its common stock. This dividend is scheduled for payment on July 30, 2021, to shareholders recorded as of June 30, 2021. The company focuses on investing in non-operated minority interests in oil and gas properties throughout the premier basins in the United States.
Northern Oil and Gas (NYSE American: NOG) will release its first quarter 2021 financial results on May 7, 2021, before the market opens. Following the earnings release, the Company will conduct a conference call at 10:00 a.m. Central Time. Investors can access the call via phone or through a webcast. Replay options will be available until May 14, 2021. Northern Oil focuses on investing in non-operated minority working and mineral interests in premier U.S. oil and gas properties.
Northern Oil and Gas (NYSE American: NOG) has completed its acquisition of properties from Reliance Marcellus, LLC as of April 1, 2021, for $120.9 million in cash and 3.25 million common stock warrants. This strategic move extends Northern's non-operated model into the Appalachia region, a key natural gas area, enhancing its national footprint. The transaction is expected to yield production between 75-85 MMcfpd and has 66% of its 2021 gas production hedged at an average price of $3.00/MMbtu. Northern is positioned as a consolidator of non-operated assets, aiming to enhance shareholder value.
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