NOG declares $0.34 quarterly dividend (+13%), Q4 production hit by weather, $95.5M buyback remains

NORTHERN OIL & GAS, INC.

2022-FY EPS reported $8.92 revenue$1,570,535,000

Cash dividend of $0.34 per share, 13% increase over prior quarter, payable April 28 to holders of record March 30.
Management intends to recommend further 9% increase to $0.37 for Q2 2023, two quarters ahead of stated plan.
Q4 production impacted ~10,000 Boe/day by severe weather in Williston and Permian; full-year 2022 production est. 75,250-75,550 Boe/day.
Q4 repurchased 1,103,178 shares at avg $29.92; full-year common+preferred repurchases reduced diluted share count by ~5% (4.5M shares).
Retired $25.8M of 8.125% senior notes at avg 96.7% of par; $95.5M remaining on common stock repurchase authorization.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NORTHERN OIL & GAS, INC. reported preliminary financial results for the fourth quarter 2022.

Period: the fourth quarter 2022
Result: preliminary results

Exact text from the filing

Total acquisition and development capital expenditures are expected to be in the range of $143-145 million for the fourth quarter.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NORTHERN OIL & GAS, INC. reported preliminary financial results for the full year 2022.

Period: the full year 2022
Result: preliminary results

Exact text from the filing

Despite weather related outages, the Company expects total 2022 production in the range of 75,250 to 75,550 Boe per day, in line with prior guidance.

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Source: SEC EDGAR

accession 0001104485-23-000035

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