Northern O & G Stock Price, News & Analysis

Northern Oil and Gas, Inc. (NYSE: NOG) has reported strong results for the first quarter of 2023, with significant unrealized gains of approximately $140 million from derivatives and realized gains of $13.6 million. The company allocated $26.4 million toward capital repurchases, buying back 287,751 shares at an average price of $27.82. Additionally, the company repurchased $19.1 million of its 8.125% Senior Unsecured Notes due 2028, enhancing financial health by reducing future interest expenses. The board has increased the repurchase authorization for notes by $100 million, bringing total availability to $105.1 million. Management emphasized a strategy focused on balancing growth and shareholder returns, seizing market opportunities while maintaining leverage levels.

Northern Oil and Gas, Inc. (NYSE: NOG) has announced plans to release its financial and operating results for the first quarter of 2023 on May 4, 2023, after market close. The Company will follow up with a conference call scheduled for May 5, 2023, at 10:00 a.m. Central Time. Interested parties can join the call by phone or via the Company’s webcast. A replay of the call will be available until July 4, 2023. Northern Oil and Gas focuses on investing in non-operated minority working and mineral interests in oil and gas properties, primarily in the United States.

Northern Oil and Gas (NYSE: NOG) has appointed Jim Evans as Chief Technical Officer, effective immediately. Evans has held various engineering roles at NOG since 2013, previously serving as Executive Vice President and Chief Engineer since February 2021. His leadership in engineering has been instrumental as NOG strengthens its position as a consolidator of non-operated properties while enhancing its technological capabilities. The company's focus on data-driven processes underlines its strategy to identify and underwrite value in expanding operations. This leadership change reflects NOG's commitment to leveraging its extensive database for future growth.

Northern Oil and Gas, Inc. (NYSE: NOG) will be represented by CEO Nick O’Grady at the Raymond James 44th Annual Institutional Investors Conference on March 7, 2023, at 3:25 p.m. ET. A live webcast of the presentation is available on the company’s website and will be archived for 90 days. NOG focuses on investing in non-operated minority working and mineral interests in key hydrocarbon producing basins across the contiguous United States. For further details about NOG, visit www.northernoil.com.

Northern Oil and Gas reported strong performance in Q4 2022, with production averaging 78,854 Boe/day, a 23% increase year-over-year. GAAP cash flow from operations reached $287.4 million, while Free Cash Flow rose 23% to $87.1 million. The company made significant acquisitions totaling approximately $400 million and increased its capital spending to $142.9 million. NOG declared a 13% dividend increase, now at $0.34 per share. For 2023, production guidance is set at 91,000 - 96,000 Boe/day, marking a 23% expected growth, supported by a robust balance sheet and a focus on organic drilling and acquisition strategies.

Northern Oil and Gas, Inc. (NYSE: NOG) announced a cash dividend of $0.34 per share, a 13% increase from the previous quarter. This dividend will be paid on April 28, 2023, to shareholders on record as of March 30, 2023. The company aims for a further 9% increase to $0.37 per share in Q2 2023, achieving its dividend growth plan ahead of schedule. Despite production disruptions due to severe weather, NOG expects 2022 production between 75,250 and 75,550 Boe per day. Share repurchases totaled $54.5 million in 2022, enhancing shareholder returns.