Northern Oil And Gas ( (NOG) ) has released its Q1 earnings. Here is a breakdown of the information Northern Oil And Gas presented to its investors.
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Northern Oil and Gas, Inc. is a real asset company focused on acquiring and investing in non-operated minority working and mineral interests in the premier hydrocarbon-producing basins within the contiguous United States.
In the first quarter of 2025, Northern Oil and Gas reported record production levels and significant financial growth. The company achieved a record total quarterly production of 134,959 barrels of oil equivalent per day, marking a 13% increase from the previous year.
Key financial metrics for the quarter included a GAAP net income of $139 million and an adjusted EBITDA of $434.7 million, reflecting a 12% increase from the first quarter of 2024. The company also generated $135.7 million in free cash flow, up 41% from the previous quarter. Notably, Northern Oil and Gas completed several strategic acquisitions, including a significant purchase in Upton County, Texas.
Looking ahead, Northern Oil and Gas remains committed to its strategic focus on flexibility and value creation. The company reaffirms its annual guidance, anticipating production levels between 130,000 and 135,000 barrels of oil equivalent per day for 2025, while maintaining a robust capital expenditure plan to adapt to changing market conditions.