NOG -- 1Q24

Locator: 47109B.

1Q24 highlights:

• record quarterly production of 119,436 Boe per day (59% oil), increases of 4% from the fourth quarter of 2023 and 37% from the first quarter of 2023 
• GAAP net income of $11.6 million, Adjusted Net Income of $130.5 million and Adjusted EBITDA of $387.0 million.
• cash flow from operations of $392.1 million. Ccash flow from operations was $352.5 million, an increase of 19% from the first quarter of 2023 
• generated $54.0 million of free cash flow.
• closed on previously announced acquisition of non-operated interests across 3,000 net acres in the Northern Delaware Basin 
• after the closing of the Northern Delaware acquisition in the first quarter, NOG paid $40 million in common stock dividends, repurchased $20 million of common stock, and repaid approximately $50 million of debt 

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