NOG: 4Q13 And Full Year 2013 Earnings

Press release here.

Full year:

• annual production increased 19% to 12,261 average boe per day
• fourth quarter production increased 28% year-over-year to 13,946 average boe per day
• proved reserves increased 25% to 84.2 million boe, a reserve replacement ratio of 370%
• added 531 gross (40.0 net) wells to production; total producing wells to 1,758 gross (146.2 net)
• currently participating in an additional 252 gross (18.8 net) wells drilling or awaiting completion as of January 31, 2014
• income per common share was $0.85 in 2013, compared to $1.15 in 2012

4Q13:

Net income was $17.4 million in the fourth quarter of 2013, compared to $19.6 million in the fourth quarter of 2012.  Diluted net income per common share decreased to $0.28 in the fourth quarter of 2013, compared to $0.31 in the fourth quarter of 2012.