Northern Oil and Gas(NOG) - 2023 Q2 - Earnings Call Presentation

Financial Performance - Q2 Adjusted EBITDA reached $315.5 million, representing a 16% increase compared to Q2 2022[7, 180] - Q2 Free Cash Flow was approximately $47.6 million, marking a 95% increase year-over-year[11] - Q2 production averaged 90.9 thousand Boe/d, a 25% increase compared to Q2 2022[13, 14] - Adjusted ROCE stood at 22.9% for the second quarter[13, 17] Shareholder Returns & Capital Allocation - Q2 dividend increased to $0.38 per share, reflecting a 52% increase year-over-year[18] - The company completed 13 ground game acquisitions in Q2, adding 16.7 net well locations and 942 net acres[17, 30] - Two joint acquisitions were entered into totaling $662 million to enhance high-quality inventory[17] Operational & Strategic Outlook - 2023 annual production guidance was updated to a range of 96,000 – 100,000 Boe/day[78] - Total budgeted capital expenditures for 2023 were revised to a range of $764 million – $800 million[78, 93] - Revolver capacity is anticipated to expand to $1.8 billion upon the closing of the Novo acquisition[77, 99]