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 & Gas (NOG) provides timely updates on its strategic operations across key U.S. basins, including the Williston and Permian regions. This page serves as a comprehensive resource for investors and industry professionals seeking official press releases, financial announcements, and operational developments.
Access curated updates on earnings reports, asset acquisitions, and production milestones, all critical for evaluating the company's position in the energy sector. Our collection ensures transparent access to NOG's exploration activities, regulatory compliance efforts, and market strategies without speculative commentary.
Regularly updated content covers technical advancements in drilling, partnerships, and sustainability initiatives. Bookmark this page to stay informed about NOG's evolving role in oil and gas exploration through verified, investor-focused communications.
Northern Oil and Gas (NYSE: NOG) has announced it will release its second quarter 2024 financial and operating results on July 30, 2024, after the market closes. The company will also host a conference call on July 31, 2024, at 8:00 a.m. Central Time to discuss the results. Interested parties can join via phone or webcast. Replay of the call will be available until August 14, 2024, and the webcast archive will be accessible on NOG's website until July 30, 2025.
Northern Oil and Gas (NOG) announced a joint acquisition with SM Energy, purchasing the Uinta Basin assets from XCL Resources for $2.55 billion. NOG's share of the deal is $510 million for a 20% stake, covering over 9,300 net acres and yielding more than 10,500 barrels of oil equivalent per day. The transaction is expected to boost NOG's cash flow by over $170 million in the next 12 months. The deal will be funded through cash flow, existing cash, and borrowings. NOG highlights significant upside from long-term drilling prospects and cost savings from an integrated sand mine facility.
SM Energy announced a $2.04 billion acquisition of Uinta Basin assets from XCL Resources, with SM Energy obtaining 80% interest. This acquisition aims to enhance SM Energy's portfolio by adding 37,200 net acres, boosting production by 43 MBoed, and extending inventory life by two years. The deal is expected to be immediately accretive, increasing the 2025E Adjusted EBITDAX by 35% and Adjusted Free Cash Flow by 45%. Funding will be through debt and cash. Additionally, SM Energy will increase its fixed dividend by 11% and initiate a new $500 million share repurchase program. Closing is anticipated in September 2024.
NOG, also known as Northern Oil and Gas, declared a $0.40 per share quarterly cash dividend, in line with previous disclosures, payable on July 31, 2024. The dividend reflects the company's commitment to rewarding its shareholders.
Northern Oil and Gas, Inc. (NYSE: NOG) reported record quarterly production, strong financial results, and strategic moves in the first quarter of 2024. The company achieved 119,436 Boe per day, with net income of $11.6 million and Adjusted EBITDA of $387.0 million. They closed on an acquisition, paid dividends, repurchased stock, and reduced debt. NOG's CEO emphasized the focus on value creation and maximizing returns for investors.
NOG announced the completion of its semi-annual borrowing base redetermination, leaving the borrowing base at $1.8 billion and increasing the committed amount to $1.5 billion. New members like JP Morgan Chase, Mizuho Bank, and Comerica Bank joined the lending syndicate, showing confidence in NOG's growth strategy and opportunities.
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