NOG: 4Q21 And Full Year 2021

Link here. 

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