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Last $7.08 USD
Change Today +0.03 / 0.43%
Volume 1.6M
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

northern oil and gas inc (NOG) Snapshot

Open
$6.98
Previous Close
$7.05
Day High
$7.21
Day Low
$6.89
52 Week High
06/23/14 - $17.43
52 Week Low
12/16/14 - $4.79
Market Cap
436.2M
Average Volume 10 Days
1.9M
EPS TTM
$0.85
Shares Outstanding
61.6M
EX-Date
--
P/E TM
8.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for NORTHERN OIL AND GAS INC (NOG)

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northern oil and gas inc (NOG) Details

Northern Oil and Gas, Inc., an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the United States. It primarily holds interest in the Bakken and Three Forks formations in the Williston Basin of North Dakota and Montana. As of December 31, 2014, the company owned working interests in 2,338 gross producing wells consisting of 2,337 wells targeting the Bakken and Three Forks formations, as well as 1 exploratory well targeting other formation; and had proved reserves of 100.7 million barrels of oil equivalent. Northern Oil and Gas, Inc. is based in Wayzata, Minnesota.

23 Employees
Last Reported Date: 02/27/15

northern oil and gas inc (NOG) Top Compensated Officers

Co-Founder, Chairman and Chief Executive Offi...
Total Annual Compensation: $858.0K
Chief Financial Officer
Total Annual Compensation: $450.0K
Executive Vice President, General Counsel and...
Total Annual Compensation: $286.0K
Executive Vice President of Land
Total Annual Compensation: $55.0K
Executive Vice President of Corporate Develop...
Total Annual Compensation: $250.0K
Compensation as of Fiscal Year 2014.

northern oil and gas inc (NOG) Key Developments

Northern Oil and Gas, Inc. Announces Proposed Private Offering of $200 Million of Senior Notes

Northern Oil and Gas, Inc. announced that, subject to market conditions, it intends to offer $200 million in aggregate principal amount of senior notes due 2020 in a private placement to eligible purchasers. The notes will be Northern Oil's general unsecured obligations. Northern Oil intends to use the net proceeds of this offering to repay borrowings outstanding under its revolving credit facility and for general corporate purposes. The notes are being offered only to qualified institutional buyers in reliance on the exemption from registration set forth in Rule 144A under the Securities Act of 1933, as amended, and outside the United States to non-U.S. persons in reliance on the exemption from registration set forth in Regulation S under the Securities Act. The notes have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act and applicable state securities or blue sky laws and foreign securities laws.

Northern Oil and Gas, Inc. Announces Pricing of 8.000% Senior Notes Offering

Northern Oil and Gas, Inc. announced that it priced its private offering to eligible purchasers of $200 million in aggregate principal amount of its 8.000% senior notes due 2020 at an offering price equal to 95.000% of par. The notes will be company's general unsecured obligations. The company intends to use the net proceeds of approximately $184.9 million, after deducting initial purchasers discounts and offering expenses, to repay borrowings outstanding under its revolving credit facility and for other general corporate purposes. The offering is expected to close on May 18, 2015, subject to the satisfaction of customary closing conditions. The notes are being offered only to qualified institutional buyers in reliance on the exemption from registration set in Rule 144A under the Securities Act of 1933, as amended and outside the United States to non-U.S. persons in reliance on the exemption from registration set in Regulation S under the Securities Act. The notes have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act and applicable state securities or blue sky laws and foreign securities laws.

Northern Oil and Gas, Inc. Announces Unaudited Earnings and Production Results for the First Quarter Ended March 31, 2015; Reports Impairment of Oil and Natural Gas Properties for the First Quarter Ended March 31, 2015; Provides Capital Expenditure Guidance and Reaffirms Production Guidance for the Year 2015

Northern Oil and Gas, Inc. announced unaudited earnings and production results for the first quarter ended March 31. 2015. For the quarter, the company reported total revenues of $76,124,638 compared to $82,125,307 a year ago. Loss from operations was $353,482,367 compared to income from operations of $20,558,066 a year ago. Loss before income taxes was $365,218,572 compared to income before income taxes of $10,689,763 a year ago. Net loss was $229,738,572 or $3.79 per basic and diluted share compared to net income of $6,589,763 or $0.11 per basic and diluted share a year ago. Adjusted net income was $ 5,985,675 or $0.10 per basic and diluted share compared to $11,431,328 or $0.19 per basic and diluted share a year ago. Adjusted EBITDA was $67,521,660 compare d to $65,107,200 a year ago. The company incurred $41.3 million of capital expenditures on drilling and completion and capitalized workover costs. Net loss in the first quarter of 2015 was impacted by a non-cash impairment of oil and natural gas properties, net of tax, totaling $226.7 million and a non-cash loss on the mark-to-market of derivative instruments, net of tax, of $9.0 million. The increase in Adjusted EBITDA is primarily due to the continued addition of crude oil and natural gas production from new wells, which was partially offset by lower realized commodity prices in 2015 compared to 2014. Adjusted net income was negatively impacted during the quarter by the significant deterioration of oil, natural gas and NGL prices. CapEx was $45 million. Free cash flow was $10 million. For the quarter, the company reported total production of 1,528,919 Boe compared to 1,195,866 Boe a year ago. The year-over-year production growth was primarily driven by improved economics and recoveries on the 41.5 net wells entered to production over the last 12 months. Total average daily production was 16,988 Boe compared to 13,287 Boe a year ago. For the quarter, the company reported impairment of oil and natural gas properties of $360,428,962. The company’s guidance remains unchanged from that disclosed on February 26, 2015, which calls for 2015 production to be flat with 2014, on a significantly reduced capital budget of $140 million. Capital expenditures will trend higher in the first half of the year as wells in process reduce throughout the remainder of the year.

 

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Industry Analysis

NOG

Industry Average

Valuation NOG Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.1x
Price/Book 0.8x
Price/Cash Flow 5.1x
TEV/Sales NM Not Meaningful
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