Northern Oil And Gas (NOG) Tops Q1 EPS by 8c

Northern Oil And Gas (NYSE: NOG) reported Q1 EPS of $0.62, $0.08 better than the analyst estimate of $0.54. Revenue for the quarter came in at $21.4 million versus the consensus estimate of $133.74 million.

“The first quarter performance was above our internal expectations across all metrics as our core Williston & Permian properties continued to deliver,” commented Nick O’Grady, Northern’s Chief Executive Officer. “The Company generated $41.7 million of Free Cash Flow, approximately 6% of our total quarter end market capitalization — in a single quarter. I am also very excited that we were able to continue to improve our liquidity and balance sheet with the completion of our financings in February. These transactions along with the continued growth of our business should provide us with sufficient cash flow to continue our strategy of making additional accretive acquisitions, reducing debt and providing returns to our stockholders. Our first ever quarterly dividend is the culmination of a tireless multi-year effort to put the Company in a position to return cash to its stockholders. As we achieve our targets, we believe we can provide meaningful cash returns to investors over the coming years.”

For earnings history and earnings-related data on Northern Oil And Gas (NOG) click here.

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