Reports Q3 revenue $753.64M, consensus $542.84M. Reports Q3 production 121,815 Boe/d, up 19% y/y. “During the third quarter we generated record oil volumes and free cash flow despite limited completion activity and a period of weaker commodity prices. Importantly, we notched multiple achievements on the business front executing on acquisitions of two high-quality growth assets,” commented Nick O’Grady, NOG‘s Chief Executive Officer. “We closed our $220 million Point transaction on time and on schedule, yet our net debt changed by only approximately $50 million during the quarter, a testament to the power of our cash generation and the strength of our asset base. On October 1, we closed on XCL, our largest and most accretive acquisition to date. With these two assets now closed and D&C activity building, we look forward to continuing to generate differentiated returns and growth for our investors.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on NOG:
- Is NOG a Buy, Before Earnings?
- Northern Oil and Gas estimates Q3 production 121.6-121.8 MBoe/d
- Northern Oil and Gas resumed with a Buy at Jefferies
- Northern Oil and Gas Expands with Strategic Uinta Basin Acquisition
- Northern Oil and Gas price target lowered to $44 from $55 at Truist
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
