Northern Oil And Gas (NYSE: NOG) reported Q1 EPS of $0.27, which may not compare to the analyst estimate of ($0.02). Revenue for the quarter came in at $65.82 million versus the consensus estimate of $47.75 million.

• Production totaled 1,196,924 barrels of oil equivalent ("Boe") for the first quarter, averaging 13,299 Boe per day.
• Northern's first quarter 2017 producing well additions have a 30 day initial production average of 1,485 Boe per day, a 34% increase over the 2016 additions.
• Northern\'s 2016 producing well additions are tracking a 1 million Boe average type curve, a 59% increase over the 2015 additions.
• Northern has participated in 27 gross wells since the beginning of 2016 with completions that used at least 10 million pounds of proppant; these wells are tracking a 1.2 million Boe average type curve.
• Northern completed the semi-annual redetermination under its revolving credit facility with the borrowing base established at $325 million. Based on this new borrowing base, Northern had available liquidity of $196.5 million as of March 31, 2017.

Northern's GAAP net income for the first quarter of 2017 was $16.9 million. Adjusted net income for the quarter was a loss of $0.1 million. Adjusted EBITDA for the quarter was $29.6 million.

"Northern's ability to allocate our capital expenditures to the highest return wells is allowing us to maintain production levels despite our dramatic reduction in capital expenditures since 2015," commented Northern\'s Interim CEO and CFO, Tom Stoelk. "Increased well productivity is being aided by the enhanced completion designs, which is improving returns as we execute on our capital allocation focused business plan. As the weather improves, an increase in completions is expected to drive production growth during the second half of 2017."

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