NOG Q4 production 114.4 Mboe/d, guides 20% YoY growth in 2024 on flat capex

NORTHERN OIL & GAS, INC.

2023-FY EPS reported $10.03 revenue$2,166,259,000

Q4 2023 production 114.4 Mboe/d (+12% QoQ); 2023 annual ~98.8 Mboe/d (high end of guidance).
Q4 capex ~$260M, including $25M Ground Game acquisitions; 2024 capex budget $825-$900M.
Preliminary 2024 guidance: production 115,000-120,000 boe/d; oil 70,000-73,000 bbl/d; ~20% YoY growth.
Mascot project: 17 gross wells TIL early Q2 2024, another 12 in Q3; ~10% well cost reduction expected.
Q1 2024 production expected slightly lower than Q4 due to weather, seasonal slowdown, Mascot curtailments.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.7

NORTHERN OIL & GAS, INC. updated its 2024 guidance (initiated).

Period: 2024
Guidance: initiated
Result: guidance update

Exact text from the filing

NOG Provides Fourth Quarter 2023 Operations Update and Preliminary 2024 Guidance

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Earnings Releases SEC 8-K Item 2.02 confidence 0.7

NORTHERN OIL & GAS, INC. updated its fourth quarter of 2023 guidance (initiated).

Period: fourth quarter of 2023
Guidance: initiated
Result: preliminary results

Exact text from the filing

On February 15, 2024, Northern Oil and Gas, Inc. issued a press release that includes preliminary financial and operating information for the fourth quarter of 2023, among other matters.

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Source: SEC EDGAR

accession 0001104485-24-000039

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