Northern Oil and Gas reports Q1 adjusted EPS $1.33, consensus $1.04

Reports Q1 revenue $577M, consensus $545.73M. “The first quarter highlighted the strengths of NOG‘s business model and strategic decisions,” commented Nick O’Grady, NOG’s Chief Executive Officer. “We continue to improve our margins, generate prodigious free cash flow, reduce leverage and add value through shareholder returns and Ground Game acquisitions. The inherent flexibility of the non-operated model and our broad basin and production mix will allow for dynamic capital allocation to adjust for any changes in the commodity pricing backdrop, while our robust hedge book keeps our cash flows insulated, providing optionality to capitalize on value creation opportunities in any environment.”