Locator: 48548NOG.
NOG 1Q25 results: link here.
- record total quarterly production; 135K BOEPD
- oil: 79K BOPD
- ratio: 58.3% oil
- Bakken gets gassier as it matures; reported record Appalachian volumes (gas play); Uinta volumes up 15% from prior quarter (SM Energy operator)
- financials:
- cash flow up 10% from 1Q24
- free cash flow up 41% from 4Q24
- transactions: added over 1,000 net mineral acres; 1.1 net wells for $4.8 million ($4,800 / acre)
- repurchased 499,100 shares of common stock at average price of $30.07 / share
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More Bakken News
WTI: $60.18.
Active rigs: 25.
Seven new permits, #41856 - #41862, inclusive:
- Operators: CLR, Phoenix Operating, Devon (5),
- Fields: Upland oil field (Divide); Big Stone oil field (Williams); Briar Creek (Williams)
- Comments:
- Devon has permits for five Finn wells, NESE 12-152-104;
- to be sited 2270 FSL and 581 / 701 FEL
- Phoenix Operating has a permit for a Willer well, NWNW 28-159-98,
- to be sited 512 FL and 850 FWL;
- CLR has a permit for a Schilke well, lot 1, section 19-161-96,
- to be sited 403 FL and 526 FWL;
Two permits renewed:
- BR: two Gorhman permits, Bailey, oil field, Dunn County;
One producing well (a DUC) reported as completed:
- 41137, 0, CLR, Shadowcat 1-31H, Divide County;
