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 (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.