Acquisition Overview - Agreement to acquire a 49% interest in Ohio Utica upstream and midstream assets for $588 million[3, 10] - The acquisition includes approximately 35,000 net acres with over 100 identified gross locations[4, 10] - The asset includes over 140 miles of gathering pipelines and approximately 90 miles of water delivery systems[4, 10] - Expected to close by the end of Q1 2026, with an effective date of July 1, 2025[5, 10] Production and Financial Projections - 2026 net production is estimated at approximately 65 MMcfe per day, with an anticipated growth rate of over 30% CAGR through the end of the decade[4, 10] - Projected cash flow from operations for CY2026 is approximately $100 million net to NOG, with substantial growth projected[10] - Average annual capital spending of approximately $100 million is expected on the asset through the end of the decade[10] Strategic Rationale - The acquisition strategically positions NOG to benefit from global demand growth for gas driven by LNG, AI, and continued growth in power[10, 12] - The integrated midstream system enhances margins, improving combined asset operating costs by over $0.70/mcfe[15] - The midstream cash flows are expected to grow by 140% by the end of the decade[10]