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Re: Enterprising Investor post# 286

Tuesday, 05/09/2017 1:39:30 AM

Tuesday, May 09, 2017 1:39:30 AM

Post# of 576
Northern Oil & Gas +10% on Q1 earnings beat, strong production results

Northern Oil & Gas (NOG +10.3%) surges by more than 10% after beating analyst estimates for Q1 earnings as revenue more than doubled from year-ago levels.

NOG says it produced just under 1.2M boe/day, or an average of 13,299 bbl/day, and new wells added in Q1 averaged 1,485 boe/day during their first 30 days in operation, a 34% increase over new wells during the same period last year.

NOG says its ability to allocate capex to the highest return wells is allowing it to maintain production levels despite dramatic capex reductions since 2015.

Separately, investor Bahram Akradi discloses an increased active stake in NOG to 8.58% from 7.5% prior.
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