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Market Watch 666 For 25July 2021
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Median home prices up, properties for sale down sharply
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First Quarter Highlights:
Averaged net production of approximately 1.8 bcfe per day for the quarter, of which 89% was natural gas
Adjusted EBITDAX
Decreased average well cost
(2) to approximately $564 per lateral foot during the quarter, resulting in capital expenditures incurred of $148 million
Generated $54 million of free cash flow
(1) during the quarter
Eliminated all debt maturities until Q2 2024 with the retirement of our Convertible Notes in March 2021 and the redemption of our Senior Notes due 2022 in April 2021
Borrowing base reaffirmed at $1.85 billion in April 2021
Reiterating annual production, free cash flow and capital guidance for 2021
(1) A non-GAAP financial measure. See the Non-GAAP reconciliations included in this press release for the definition of, and other important information regarding, this non-GAAP financial measure.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Northern Oil and Gas, Inc. Announces First Quarter 2021 Results
May 7, 2021 GMT
MINNEAPOLIS (BUSINESS WIRE) May 7, 2021
Northern Oil and Gas, Inc. (NYSE American: NOG) (“Northern”) today announced the company’s first quarter results.
MANAGEMENT COMMENTS
“The first quarter performance was above our internal expectations across all metrics as our core Williston & Permian properties continued to deliver,” commented Nick O’Grady, Northern’s Chief Executive Officer. “The Company generated $41.7 million of Free Cash Flow, approximately 6% of our total quarter end market capitalization in a single quarter. I am also very excited that we were able to continue to improve our liquidity and balance sheet with the completion of our financings in February. These transactions along with the continued growth of our business should provide us with sufficient cash flow to continue ou
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