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Dec 31, 2024
Northern Oil and Gas Q4 2024 Earnings Report
Northern Oil and Gas reported solid financial performance in Q4 2024, with revenue growth, increased production, and higher adjusted earnings.
Key Takeaways
Northern Oil and Gas (NOG) reported Q4 2024 earnings with revenue of $545.5 million, net income of $71.7 million, and adjusted net income of $111.8 million. Adjusted EPS came in at $1.11 per share. The company produced 131,777 Boe per day, marking a 15% increase year-over-year. Free cash flow was $96.4 million, and NOG closed an acquisition of Uinta Basin assets for $511.3 million.
Q4 revenue increased slightly to $545.5 million, up from $543.4 million last year.
Net income stood at $71.7 million, with adjusted EPS at $1.11.
Production reached 131,777 Boe per day, a 15% increase year-over-year.
Declared a dividend of $0.45 per share, a 12.5% increase from Q1 2024.
Forward Guidance
NOG expects production to range between 130,000 and 135,000 Boe per day in 2025, with capital expenditures between $1.05 billion and $1.2 billion. The company anticipates continued expansion, driven by acquisitions and increased drilling activity.
Positive Outlook
- Production is expected to increase to 130,000 - 135,000 Boe per day.
- Continued investment in high-value assets and joint ventures.
- Expected capital expenditure range of $1.05B - $1.2B for 2025.
- Strong free cash flow expected to support shareholder returns.
- Dividend increased to $0.45 per share, reflecting confidence in future earnings.
Challenges Ahead
- Potential headwinds from fluctuating oil and gas prices.
- Higher operating costs due to inflationary pressures.
- Uncertainty in crude takeaway capacity in the Uinta Basin.
- Regulatory risks related to environmental and drilling policies.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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