NOG Q3 preliminary: capex $215-218M; ground game adds 5.7 net locations; D&C record 74.2 wells

NORTHERN OIL & GAS, INC.

2023-Q3 EPS reported $5.97 revenue$1,372,742,000

Q3 capital expenditures expected $215-218M, driven by Ground Game success and acceleration of organic development.
Ground Game: 8 transactions in Q3 adding 5.7 net drilling locations and 514 net acres; YTD 31 deals.
Gross consents up 35% sequentially; net wells turned in-line 22.6 vs 13.8 in Q2 (up 64%).
DD&A rate expected $14.20-$14.25/Boe, up from Q2 due to Novo acquisition.
Mark-to-market loss on derivatives ~$205M; net settled gain ~$5M; added hedges for 2.4 MMBoe oil and 10.9 MMBtu gas.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NORTHERN OIL & GAS, INC. reported preliminary financial results for third quarter of 2023.

Period: third quarter of 2023
Result: preliminary results

Exact text from the filing

On October 25, 2023, Northern Oil and Gas, Inc. issued a press release including preliminary financial and operating updates for the third quarter of 2023.

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Source: SEC EDGAR

accession 0001104485-23-000182

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