Northern Oil and Gas, Inc. Announces First Quarter 2019 Results and Increases 2019 Production Guidance
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Northern Oil And Gas (NOG) Misses Q1 EPS by 5c; Increases 2019 Production Guidance
May 9, 2019 4:37 PM EDTNorthern Oil And Gas (NYSE: NOG) reported Q1 EPS of $0.07, $0.05 worse than the analyst estimate of $0.12.
Production increased 92% over the prior year, averaging 34,598 barrels of oil equivalent (Boe) per day; strong well performance driving an increase in 2019 production guidance with no change to capital spending guidance.Drilling and development capital expenditures totaled $74.0 million, a 5% reduction versus the prior quarter.Cash flow from operations, excluding an $11.4 million net increase from changes in working capital, was $87.5 million.Northern spent $15.1 million on share repurchases in the quarter... More