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 (NYSE: NOG) reported record quarterly production of 90,878 Boe per day in Q2 2023, up 25% year-over-year. The company posted net income of $167.8 million and Adjusted EBITDA of $315.5 million. NOG generated $47.6 million in Free Cash Flow and paid a $0.37 per share dividend, up 9% from Q1.
Key highlights include:
- Closed $167.9 million Forge assets acquisition
- Entered $500 million Novo assets acquisition agreement
- Issued $500 million in 8.75% Senior Notes
- Completed $224.7 million common stock offering
- Increased production guidance to 96,000-100,000 Boe per day for 2023
NOG's Q2 oil and gas sales were $416.5 million. The company had total liquidity of $1.01 billion as of June 30, 2023.
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Northern Oil and Gas (NYSE: NOG) has updated its 2023 guidance and provided a preliminary second quarter financial and operational update. Key highlights include:
1. Increased production estimates to 96,000-100,000 Boe per day (previously 91,000-96,000).
2. Raised capital expenditure guidance to $764-$800 million (previously $737-$778 million).
3. Reduced per unit production expenses and G&A costs.
4. Improved oil differentials and gas realizations.
5. Expected Q2 2023 production of 90.5-90.8 Boe per day with 60% oil mix.
6. Q2 capital expenditures estimated at $231-$236 million.
7. Changes in drilling plans, including modifications to the MPDC Mascot project and deferrals from a Williston Basin partner.
Northern Oil and Gas (NYSE: NOG) has announced the schedule for its second quarter 2023 financial and operating results release. The company plans to issue the results on Wednesday, August 2, 2023, after market close. Following this, NOG will host a conference call on Thursday, August 3, 2023, at 7:30 a.m. Central Time.
Interested parties can join the conference call via phone or webcast. The dial-in numbers are (866) 373-3407 for domestic callers and (412) 902-1037 for international callers, with the Conference ID: 13740011. A replay of the call will be available until August 17, 2023, and the webcast archive will be accessible on NOG's website through November 1, 2023.
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