NOG anticipates no material changes to its initial guidance. Given the recent volatility in commodity markets and NOG‘s focus on returns, NOG will remain flexible and adapt as appropriate. NOG would expect potential increases in Ground Game capital allocation as a percentage of the total in the event that commodity prices materially weaken, and would expect total completions, spuds and total capital spending to move in tandem with overall commodity prices. NOG continues to expect approximately 130,000 – 135,000 Boe per day of production in 2025. NOG currently expects total capital spending in the range of $1,050 – $1,200 million for 2025, with approximately 66% of its 2025 budget to be spent on the Permian, 20% on the Williston, 7% on the Appalachian and 7% on the Uinta.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NOG:
- Northern Oil and Gas reports Q1 adjusted EPS $1.33, consensus $1.04
- Northern Oil and Gas price target lowered to $29 from $41 at BofA
- Northern Oil And Gas (NOG) Q1 Earnings Cheat Sheet
- Northern Oil and Gas price target lowered to $35 from $47 at Raymond James
- Northern Oil and Gas provides update on hedging results and shareholder returns