Stable Business and Strong Outlook
NOG's business remains solid with stable activity and a strong exit expected into 2026. The company is achieving high-quality, low breakeven activity and has a disciplined approach to capital allocation.
Increased Annual Production Guidance
Due to operational outperformance, NOG increased its annual production guidance while tightening CapEx for the year. Expected returns remain well above the hurdle rate.
Record Gas Volumes
Gas production reached record volumes of approximately 352 MMcf per day, up 15% from Q3 2024 and up 3% from Q2 2025.
Strong Liquidity Position
NOG may exit 2025 with potentially more than $300 million of additional liquidity compared to the beginning of 2025, with further reduction in interest rates and substantial increase in liquidity.
Active Business Development
Q3 was one of the busiest periods in company history for business development, with over 14 large asset transactions and 200 ground game opportunities screened.