Northern Oil & Gas Posts Production and Operations Update; Shares Tumble 6%

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Northern Oil & Gas Inc. ( NOG ) is down 6.28% to $16.27 a share despite posting a positive Q3 production and operations update.

NOG expects Q3 2012 production to increase approximately 96% more than the comparable quarter of 2011, and approximately 9% more than Q2 2012.

During Q3 2012, NOG had approximately 149 gross (10.9 net) wells completed and placed into production. As of September 30, 2012, NOG was producing from a total of 1,104 gross (98.5 net) wells.

As of Sept. 30, 2012, NOG was participating in an additional 153 gross (10.1 net) wells that were drilling, completing or awaiting completion

NOG is moving in a 52-week range of $14.40 - $28.00. Shares have fallen 25% in the last 12 months.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities


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