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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