Pages

Friday, November 8, 2013

NOG's 3Q13 Earnings

Disclaimer: this is not an investment site. Do not make any investment decisions based on anything you read here or thought you read here. 

This was posted at "Earnings Central" yesterday but I forgot to bring it over here as a stand-alone post. A big "thank you" to Don for reminding me. 

NOG: earnings in-line; beats on revenue;

  • 3Q13 production of 1,200,520 barrels of oil equivalent, or 13,049 average boe per day, a 20% sequential increase over the second quarter of 2013
  • oil and gas sales increased to $107.2 million, a 35% sequential increase over the second quarter of 2013
  • added 147 gross (12.1 net) wells to production during the third quarter of 2013
  • repurchased 2,036,383 shares of its common stock during the third quarter of 2013 at an average price of $12.82 per share
Idle chatter:
NOG is selling for$16.40 today.

16.40 = 12.82 x 2,036,383 = $7.29 million.
Net income for the company in the 3rd quarter was $20 million which puts the $7 million into perspective.
$7 million/63 million shares outstanding = 11 cents/share which puts 3Q13 earnings of 3 cents/share (GAAP), or 32 cents/share, adjusted, diluted shares.
Unless I did the arithmetic wrong.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.