NOG's 3Q13 Earnings

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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.