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By expanding its footprint in the Uinta Basin, Northern Oil and Gas (NOG) continues to solidify its status as a premier non-operated oil and gas company, poised for long-term success.
DENVER , June 27, 2024 /PRNewswire/ -- SM Energy Company (the "Company" or "SM Energy") (NYSE: SM) today announces that it has entered into an agreement to acquire the Uinta Basin oil and gas assets owned by certain entities affiliated with XCL Resources, LLC ("XCL"), a private company backed by EnCap Investments L.P. ("EnCap") and Rice Investment Group ("Rice"), for an unadjusted purchase price of $2.55 billion.
Northern (NOG) expects to spend in the range of $240-$260 million in the second quarter. The total budget for 2024 is projected to be between $825 million and $900 million.
Northern Oil and Gas (NOG) came out with quarterly earnings of $1.28 per share, beating the Zacks Consensus Estimate of $1.15 per share. This compares to earnings of $1.76 per share a year ago.
Northern Oil and Gas (NOG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Northern (NOG) expects production in the 115,000-120,000 boe/d range for full-year 2024.
Northern Oil and Gas, Inc. (NOG) Q4 2023 Earnings Call Transcript
While the top- and bottom-line numbers for Northern Oil and Gas (NOG) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Northern (NOG) closes the previously announced acquisition deals for Utica and Northern Delaware Basin assets, strengthening NOG's presence in major U.S. shale regions.
Domestic oil prices have been volatile, but Northern Oil and Gas, Inc. remains undervalued with a high dividend yield. Northern Oil and Gas is the largest publicly traded non-operated E&P and has assets in North Dakota, Pennsylvania, and the Permian Basin. Despite a recent earnings miss, the company's EBITDA and dividend have increased, and analysts expect earnings and dividends to continue rising.