NOG In The News -- February 3, 2021

Four links:

• NOG announces pricing of senior notes: $550 million of new 8.125% senior notes due 2028;
  
• NOG announces "transformational" acquisition in the Marcellus shale:
• seller: Reliance Marcellus, LLC
• complements NOG's existing 183,000 Williston and Permian net acres with 64,000 net acres in Appalachia;
• purchase price of $175 million
• back-of-the-envelope: $175 million / 64,000 net acres = $2,700 / acre
• EQT: the largest and one of the lowest cost natural gas producers in the US will operate 95% of the assets after its recent acquisition of Chevron's Appalachian properties
• much more at the link
• NOG announces public offering of common stock:
• 12.5 million shares with option up to an additional 1.875 million shares
• prices them at $9.75 / share;  $120 million - $140 million;
  
• NOG announces proposed aggregate $500 million private offering of senior notes:
• offer in a private placement, $500 million in senior notes
• to use cash raised to fund a portion of the cash purchase of non-operatednatural gas assets in the Appalachian Basin from Reliance Marcellus LLC, and other borrowings;

Note: there will be content and typographical errors in this note, and items are greatly abbreviated for my interest only. If this is important to you, go to the source.

NOG is tracked here. 

Subject to change:

Earnings announcement (estimated/not yet announced) for NOG: Mar 11, 2021.

 

According to Zacks Investment Research, based on 5 analysts' forecasts, the consensus EPS forecast for the quarter is $0.64. The reported EPS for the same quarter last year was $0.5.

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