NOG Reports 2Q19; Beats -- August 1, 2019

NOG reports. Remember, forecast, 11 cents. Actual results for 2Q19:

• production increased 66% year-over-year
• cash flow: $93 million, a 7% increase over the first quarter
• CAPEX: a 3% decrease over first quarter
• 2Q19 production: 3.2 million boe; averaging 34,965 boepd; 66% increase year-over-year
• net income: 12 cents (a beat)
• adjusted: 12 cents

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No need to look at share price today; WTI dropped over 7%. Bad day for oil bulls.

NOG is tracked here.

Compare with earnings / production one year ago:

2Q18 earnings: adjusted earnings, 9 cents; beats by one cent; raises full year production guidance by 60% over 2017; 2Q18 production exceedes expectations, increased 53% y/y and 17% sequentially; now averaging 21,046 boepd; exited the quarter with 16.4 net wells in production; added 8.1 organic net wells; three acquisitions this year: Salt Creek; Pivotal; and W Energy; Salt Creek closed June 4, 2018;