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 has announced a definitive agreement to acquire non-operated assets in the Appalachian Basin from a subsidiary of Reliance Industries for $175 million in cash and warrants. The assets are expected to produce 100-110 MMcfe/d in 2021, generating $55-60 million in cash flow, with a capital expenditure budget of $25-30 million. The deal, expected to close in April 2021, aims to enhance Northern's position in the industry with potential for increased free cash flow, market expansion, and shareholder returns.
Northern Oil and Gas (NOG) recently provided a business and operations update highlighting operational improvements and financial metrics. As of December 31, 2020, the company recorded 28.1 net wells, reducing Q4 production guidance to 34,000-36,000 Boe/day. Northern's acquisition backlog surpasses $1 billion, with $8.4 million in acquisitions executed in Q4. The company reduced total debt by approximately $178 million in 2020, exiting the year with $130 million in liquidity. Management anticipates increased free cash flow and further debt reduction in 2021.