NOG Announces Third Quarter 2024 Results, Achieves Record Oil Production
Northern Oil and Gas, Inc. (NOG)
NASDAQ:AMEX Investor Relations:
northernoil.com
Company Research
Source: Business Wire
THIRD QUARTER HIGHLIGHTSProduction of 121,815 Boe per day (58% oil), up 19% from the third quarter of 2023Record oil volumes of 70,913 Bbl per day, despite only 9.5 net turn-in-lines during the quarterGAAP net income of $298.4 million, Adjusted Net Income of $141.1 million and Adjusted EBITDA of $412.4 million. See “Non-GAAP Financial Measures” belowCash flow from operations of $385.8 million. Excluding changes in net working capital, cash flow from operations was $377.1 million, an increase of 9% from the third quarter of 2023, up 1% from the second quarter of 2024Generated record $177.1 million of Free Cash Flow, up 32% from the second quarter of 2024. See “Non-GAAP Financial Measures” belowCapital expenditures of $198.0 million, excluding non-budgeted acquisitions and other itemsD&C list increased to 52.2 net wells, up 11.1 net wells from the second quarter of 2024Repurchased 397,301 shares of common stock at an average price of $36.38 per sharePOST-QUARTER HIGHLIGHTSClosed joint a
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News
- Northern Oil and Gas, Inc. (NYSE: NOG) was downgraded by analysts at Royal Bank of Canada from an "outperform" rating to a "sector perform" rating. They now have a $45.00 price target on the stock, up previously from $43.00.MarketBeat
- Northern Oil and Gas, Inc. (NYSE: NOG) had its price target raised by analysts at Piper Sandler from $40.00 to $41.00. They now have a "neutral" rating on the stock.MarketBeat
- Northern Oil and Gas, Inc. (NYSE: NOG) had its price target raised by analysts at Truist Financial Co. from $44.00 to $51.00. They now have a "buy" rating on the stock.MarketBeat
- Is Northern Oil and Gas, Inc. (NYSE:NOG) Trading At A 46% Discount? [Yahoo! Finance]Yahoo! Finance
- Northern Oil & Gas Inc (NOG) Q3 2024 Earnings Call Highlights: Record Production and ... [Yahoo! Finance]Yahoo! Finance
NOG
Earnings
- 11/5/24 - Beat
NOG
Sec Filings
- 11/12/24 - Form SC
- 11/8/24 - Form 4
- 11/8/24 - Form 4
- NOG's page on the SEC website