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
• 1Q2018: 5 cents; adjusted, 17 cents vs estimates of 12 cents per share
• 1Q2017: 27 cents
• 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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