Workflow
Northern Oil and Gas(NOG) - 2025 Q1 - Quarterly Results
NOGNorthern Oil and Gas(NOG)2025-04-16 20:31

Financial Performance - NOG paid approximately 42millionindividendsduringQ12025,withadeclareddividendof42 million in dividends during Q1 2025, with a declared dividend of 0.45 per share, representing a 7% increase over the prior quarterly dividend[8]. - Total shareholder returns, including stock repurchases and dividends, amounted to approximately 57.0millionyear−to−date[8].−PreliminaryfinancialinformationforQ12025issubjecttocompletionoffinancialclosingproceduresandmaydifferfromactualresults[10].HedgingandDerivatives−Unrealizedmark−to−marketgainsonderivativesforQ12025wereestimatedat57.0 million year-to-date[8]. - Preliminary financial information for Q1 2025 is subject to completion of financial closing procedures and may differ from actual results[10]. Hedging and Derivatives - Unrealized mark-to-market gains on derivatives for Q1 2025 were estimated at 9.0 – 10.0million,whilerealizedhedgegainswereestimatedat10.0 million, while realized hedge gains were estimated at 11.0 - 12.0million[2].−Thecompanyhashedgedanaverageofover50,600Bblperdayofoilataswappriceaveragingover12.0 million[2]. - The company has hedged an average of over 50,600 Bbl per day of oil at a swap price averaging over 73.70 and over 197,200 MMBtu per day of natural gas at a swap price averaging over 4.05fortheremainderof2025[3].−ForQ22025,NOGhascrudeoilswapstotaling2,877,658Bblatanaveragepriceof4.05 for the remainder of 2025[3]. - For Q2 2025, NOG has crude oil swaps totaling 2,877,658 Bbl at an average price of 74.41 and natural gas swaps totaling 8,111,664 MMBtu at an average price of 3.96[4][5].−Thecompanyhassignificanthedgesinplacefor2026,includingover25,500Bblperdayofoiland155,700MMBtuperdayofnaturalgashedgedforQ12026[3].−Thecompanyhasenteredintovariousfinancialderivativeinstrumentstolockinfuturecommodityprices,enhancingitscapitalprogramprotection[3].ShareRepurchase−Thecompanyrepurchased499,100sharesatanaveragepriceof3.96[4][5]. - The company has significant hedges in place for 2026, including over 25,500 Bbl per day of oil and 155,700 MMBtu per day of natural gas hedged for Q1 2026[3]. - The company has entered into various financial derivative instruments to lock in future commodity prices, enhancing its capital program protection[3]. Share Repurchase - The company repurchased 499,100 shares at an average price of 30.07 during Q1 2025, totaling a year-to-date repurchase value of $15.0 million[8]. Strategic Focus - NOG's strategy focuses on acquiring and investing in non-operated minority working and mineral interests in premier hydrocarbon producing basins within the contiguous United States[9].