Northern Oil and Gas(US:NOG)2025-11-07 14:00Financial Performance - Q3 2025 Free Cash Flow was $118.9 million[6] - Average daily production reached 1311 Mboe/d, a year-over-year increase of 8%, but a sequential decrease of 2%[6] - Adjusted EBITDA was $387.1 million, down 6% year-over-year and 12% quarter-over-quarter[6] - Adjusted ROCE was 149%, lower due to pricing[6] - Net Debt to LTM Adj EBITDA ratio was approximately 14x[6] Operational Highlights - Gas volumes increased by 15% year-over-year and 3% quarter-over-quarter[11] - Appalachian volumes reached a record 1359 MMcf per day, a 10% increase quarter-over-quarter[11] - Closed $59.8 million in Ground Game acquisitions, adding over 2,500 net acres and approximately 5.8 net wells[11] - Acquired royalty and mineral interests in Utah for $98.3 million in cash, representing approximately 1,000 net royalty acres[11] Capital Management and Liquidity - Issued $725.0 million of 7.875% notes maturing in 2033[11] - Over $1.2 billion of available liquidity at quarter-end[11] - Renewed revolving credit facility, extending maturity to 2030[11] 2025 Guidance - Annual production guidance updated to 132,500 – 134,000 Boe/day[40] - Annual oil production guidance updated to 75,000 – 76,500 Bbl/day[40] - Total budgeted capital expenditures narrowed to $950 - $1,025 million[40]