NOG - Northern Oil & Gas, Inc. (NYSE: NOG)

Threepeat! NOG is honored to be named 2024 End Buyer of the Year for the third year in a row. Thanks to Tim Pawul and the Minerals & Royalties Authority LLC for a great night. Cheers to the NOG team for all the hard work to get us here. Thanks to our operating partners as well!

Congratulations to our Chief Legal Officer extraordinaire - Erik Romslo who was just recognized by Twin Cities Business as one 2024's Notable General Counsels! Erik is a NOG VIP navigating our Company thorough a multitude of M&A contracts, governance and SEC changes and he's a pretty good golfer to boot! Way to go Erik! We appreciate you! Erik Romslo #byinvestorsforinvestors Read about it here: https://lnkd.in/g-BJAPpm

NOG's CEO Nick O'Grady and President Adam Dirlam sat down with Tim Pawul for their third Minerals & Royalties podcast to talk about 2024, the Uinta and the future of NOG.

NOG in the news...

NOG, as part of the recently announced XCL joint acquisition in the Uinta Basin, through its AMI agreement, will exercise the option to purchase additional Uinta assets alongside its operating partner for an unadjusted purchase price of $17.5 million. For a mere 3.5% of its Uinta transaction value, the option exercise increases NOG's estimated Uinta acreage by nearly 70% and undeveloped inventory by approximately 20%. https://lnkd.in/eVn2NQYb

It's official. NOG raises its dividend for the 12th time in 14 quarters. The increase to $0.42 for the quarter represents 11% year over year and 5% sequentially with the yield at current trading levels at a healthy 4.5%. We are dedicated to increasing cash returns to our investors as the business grows, and NOG has the luxury of having such options given its rich free cash flow and myriad of future growth possibilities. https://lnkd.in/eDdCbGix

NOG reported strong 2q results today, with record production and other metrics. The Company continues to be poised for standout growth both this year and looking towards 2025, yet it continues to generate peer leading return on capital employed. “NOG’s results continue to underscore its role as the definitive national working interest franchise, diversified by region and commodity mix, with low leverage, strong free cash flow, and growing cash returns,” commented Nick O’Grady, NOG’s Chief Executive Officer. “Our cash flow and production are at record levels, and we have increased our shareholder returns. At the same time, we continue to find both organic and inorganic paths to growth for our investors positioning NOG as a superior investment alternative for the long term. As we reinforce through our financial results and through our corporate actions, we are unrivaled in our niche and continue to press our advantage. We remain highly aligned with and motivated to continue to deliver for our investors in the future.” https://lnkd.in/gHQdivTn

“Last night we announced our fifth joint acquisition and our second venture with Vital Energy. These large acquisitions have been game changers for NOG. They allow us to deploy larger amounts of capital at one time at highly attractive returns and afford us a seat at the table allowing us to have a say on how our capital is deployed. They streamline our operations and enable us to be highly capital efficient,” commented Nick O’Grady, NOG’s Chief Executive Officer. “Point and XCL are both highly accretive and self-funding. Our optimism and visibility on free cash flow generation has prompted us to recommend a 5% increase to our current dividend with the potential for a further increase during our annual dividend review. NOG is well positioned to defend its position as the non-operating partner of choice and to continue to generate value for our stakeholders.”

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