NOG Anticipates ~115,000-120,000 Boe Per Day Of Production In 2024, An Increase Of ~20% At The Midpoint From 2023 Levels. NOG Currently Expects Total Capital Spending In The Range Of $825M-$900M For 2024
Portfolio Pulse from Benzinga Newsdesk
NOG (Northern Oil and Gas, Inc.) projects a significant production increase to 115,000-120,000 Boe per day in 2024, up ~20% from 2023. The company plans to allocate $825M-$900M in capital spending for 2024, focusing on the Permian, Williston, and Appalachian regions. This budget will cover various expenses including production, taxes, and operational costs, aiming for efficient growth and operational excellence.
February 22, 2024 | 9:09 pm
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NOG anticipates a 20% increase in production for 2024, with capital expenditures between $825M-$900M, focusing on key regions. This strategic investment is expected to enhance operational efficiency and drive growth.
The anticipated increase in production and the substantial capital investment in strategic regions indicate a positive outlook for NOG's operational efficiency and growth potential. This is likely to be viewed favorably by investors, potentially leading to a positive short-term impact on NOG's stock price.
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