Thursday, August 8, 2013

NOG Earnings, 2Q13

Press release here.
  • 10,896 boepd
  • net income: $0.23/share
  • 182,400 net acres in the Williston Basin and Three Forks
  • during 2Q13 acquired 4,476 net acres at an average cost of $1,057/acre
  • 61% of total acreage and 71% of ND acreage held by production or by operations
  • lower net well additions in 1H13 will result in lower full year new well additions/production
2Q13 vs 2Q12
  • oil production up a measly 1%
  • natural gas production up 51% (more NG lines going in, no doubt)
  • average sale price for crude oil: up 10% ($77 to $85)
  • average production expenses up a whopping 36%
So, how did the market react?

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