Friday, August 5, 2016

NOG Reports Earnings; NOG Cut CAPEX By 50% Year-Over-Year -- August 5, 2016

From their press release:
  • production increased 2.8% sequentially and averaged 13,933 barrels of oil equivalent per day, for a total of 1,267,860 boe 
  • oil and gas sales, including cash from settled derivatives, totaled $62.5 million
  • production expenses, including production taxes, for the second quarter declined 11% per boe compared to the second quarter of 2015
  • capital expenditures totaled $16.5 million during the second quarter, a reduction of 50.5% compared to the second quarter of 2015 
  • quarter-end liquidity totaled $221.7 million, composed of $3.7 million in cash and $218.0 million of revolving credit facility availability
Across the board, Bakken CAPEX has been cut about 50% year-over-year. 

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