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Monday, May 7, 2018

Monday, May 7, 2018 -- NOG Releases Earnings -- Beats Forecasts On Bottom Line

Blogging may be a bit minimal for awhile. I'll be traveling this week but I think I will have plenty of time to blog. We'll see.

Enerplus reported three nice Antelope-Sanish wells; XTO with two more DUCs.

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NOG Releases 1Q18 Results, Guidance

Link here.
  • daily production increased 35% year-over-year; increased 7.5% sequentially; ~ 18,000 boepd
  • ended the quarter with 19 net wells in process; added 5.8 net wells to production; added 6.5 wells to drilling and completing list
  • raising full year guidance (2018) by 26 - 30% over 2017 vs prior guidance of 18 - 22% (estimates do not include the recently announced Salt Creek acquisition  -- see link)
  • production expenses per boe: 
    • 1Q2018: $7.71
    • 1Q2017: $9.75
  • G&A expense
    • 1Q2018: $1.03
    • 1Q2017: $3.02
  • net income  
    • 1Q2018: $2.965 million
    • 1Q2017: $16.941 million
  • net income per share
  • In early morning trading after results released: NOG up almost 11%
Disclaimer: I make a lot of simple arithmetic errors. I often see things that do not exist; I read quickly and miss important points. Sometimes it takes me days (maybe even weeks) to see where I was wrong.

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