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NOG-News
NOG-Events
NOG Closes 19 Deals in Q3 with Capital Expenditures of $250 Million
The company states: "Operationally, NOG experienced a clean quarter with minimal field disruptions. As oil strip prices have rallied, the Company has seen incremental acceleration of development activity across its oil basins. NOG continued executing high quality ground game acquisitions in the third quarter with 19 deals closed, adding approximately 1,060 net acres and 2.8 net wells while deploying approximately $56.5 million in acquisition costs and associated development capital. Spend remained more heavily focused toward near-term production in our oil-focused basins with nearly 85% of capital deployed to the Permian, Williston, and Uinta basins. Total booked capital spending for the third quarter is estimated to be $250.0 to $253.0 million, excluding non-budgeted acquisitions and other. The Company saw acceleration in current and forward activity in the third quarter, driving increased sequential capital spend. Capital expenditures are expected to trend lower in the fourth quarter, absent significant non-budgeted activity. The Company reiterates its 2026 capital expenditures guidance. Based on current pace, NOG expects capital spending to be toward the higher end of the range. In the third quarter, the Company recorded unrealized mark-to-market losses on derivatives of approximately $300.0M - $320.0M, driven by changes to the value of the Company's derivatives portfolio. Realized hedge losses were an estimated $51.0M to $52.0M, driven by the Company's crude oil hedges, partially offset by gas and basis hedges."
Northern Oil and Gas Plans to Offer $500M Senior Notes
Northern Oil and Gas intends to offer, subject to market and other conditions, $500M in aggregate principal amount of senior notes due 2034 in a private offering to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933, as amended. The Company intends to use the net proceeds from the offering to repay a portion of the outstanding borrowings under its revolving credit facility and the remainder, if any, for general corporate purposes.
Northern Oil and Gas Confirms FY26 Production View of 143K-148K boe/d
Northern Oil and Gas backs FY26 production view 143K-148K boe/d
NOG Reports Q2 Revenue of $670.8M, Beating Estimates
Reports Q2 revenue $670.8M, consensus $584.72M. "The strength of the NOG model shows most clearly when the macro backdrop is at its most volatile, and the flexibility of our diversified, non-operated business model is precisely what carried us through this quarter. Adjusted EBITDA was up 17% sequentially over the first quarter and we reiterated our full year production guidance despite less than ideal operating conditions. This directly demonstrates the resiliency of our platform. We strategically expanded our total addressable market by entering the Duvernay, a high quality, low break-even basin with significant growth potential, while also further enhancing our lower 48 footprint through our accretive and dynamic ground game program. Additionally, we opportunistically repurchased ~3 million shares of our stock at a highly attractive valuation, exactly the kind of disciplined capital allocation the NOG model is built to enable," commented Nick O'Grady, Chief Executive Officer. "NOG remains as strong and as well positioned as ever with an asset base that is materially undervalued by the public market juxtaposed against one of the strongest private asset markets in decades. We believe our value proposition will be well illuminated over time, and we remain steadfast in executing a business plan built to ensure the market recognizes both the value inherent in what we own today and our ability to generate attractive risk-adjusted returns across the cycle."
Northern Oil and Gas Updates Q2 Results and Buyback Plan
Northern Oil and Gas provided an update on several business matters including second quarter hedging results, an update on ground game transactions and shareholder returns. Highlights include: NOG reiterates 2026 production and capital expenditure guidance. Strong second quarter for the Ground Game closing on over 2,300 net acres and 6.2 net wells. On June 1, closed the previously announced Duvernay Joint Development acquisition. Repurchased 2.95M shares of common stock in the second quarter. Increased Authorized Share Repurchase Program to about $243M.
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