Northern Oil and Gas(US:NOG) ZACKSยท2025-05-02 12:10Financial Performance - Northern Oil and Gas (NOG) reported first-quarter 2025 adjusted earnings per share of $1.33, exceeding the Zacks Consensus Estimate of $1.12 and up from $1.28 year-over-year [1] - Oil and natural gas sales reached $577 million, surpassing the Zacks Consensus Estimate of $559 million and increasing from $532 million in the previous year [1] - The company achieved a production record in the Appalachian region, with production of 113.5 million cubic feet equivalent of gas per day [3] Production and Sales - Total production increased by 13% year-over-year to 134,959 barrels of oil equivalent per day (Boe/d), beating the estimate of 131,200 Boe/d [6] - Oil volume was 78,675 Boe/d, up 12% year-over-year, while natural gas production was 337,706 thousand cubic feet per day, up 14% [6] - The average sales price for crude oil was $64.92 per barrel, an 11% decrease from the prior-year quarter [7] Costs and Expenses - Total operating expenses rose to $372.8 million from $344 million in the year-ago period, exceeding the estimate of $366 million [8] - Capital expenditures for the first quarter were reported at $249.9 million, with $245.1 million allocated to drilling and completion [9][10] Cash Flow and Financial Position - Operating cash flow for the quarter was $407.4 million, with free cash flow totaling $135.7 million, a 41% increase from the previous quarter [3][12] - As of March 31, NOG had $33.6 million in cash and cash equivalents and long-term debt of $2.3 billion, resulting in a debt-to-capitalization ratio of 49% [12] Dividends and Share Repurchase - The board declared a cash dividend of 45 cents per share, reflecting a 12.5% increase from the previous year [2] - The company repurchased 499,100 shares of common stock at an average price of $30.07 per share [4] Guidance and Future Outlook - NOG anticipates full-year 2025 production of oil equivalent between 130,000 and 135,000 barrels per day, with oil production expected between 75,000 and 79,000 barrels per day [13] - Total capital expenditures for the year are projected to be between $1,050 million and $1,200 million [14]