NOG: "Best in Show" -- Cash Margins -- The Bakken, North Dakota, USA

Link here.

This growth has also yielded "best in show" cash margins. NOG isn't posting growth for the sake of growth either as they have managed to eke out the best cash field margins (Revenue per BOE less LOE, G&A, and Production Taxes) among their Bakken Player peers. Or thought about another way, they're the low cost player of the pack, far lower than a Kodiak or an Oasis, both operators in the play.

As I've said many times, NOG has a very interesting and a very unique business model. Following the debacle that was Newfield, this is very reassuring.