Highlights:
- fourth quarter production of 64,155 Boe per day (59.2% oil), an increase of 11% from the third quarter of 2021
- fourth quarter GAAP cash flow from operations of $133.1 million. Excluding changes in net working capital, cash flow from operations was $158.0 million, an increase of 29% from the third quarter of 2021
- total capital expenditures of $83.7 million during the fourth quarter, excluding previously-announced non-budgeted acquisitions
- free Cash Flow (non-GAAP) of $70.7 million during the fourth quarter, post-preferred stock dividends, increased 28% from the third quarter of 2021. See “Non-GAAP Financial Measures” below
- initiates 2022 production guidance of 70,000 - 75,000 Boe per day, with $350 - $415 million total planned capital expenditures
- closed Veritas acquisition in the Permian Basin, largest acquisition in NOG’s history, on January 27, 2022
- announced a Base Dividend Growth plan in December 2021, highlighted by planned 20% average dividend growth per quarter through 2023
- retired $7.2 million in face value of Convertible Preferred Stock
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