Northern Oil And Gas Reiterates 2024 Annual Production Guidance And Capital Expenditure Guidance
Portfolio Pulse from Benzinga Newsdesk
Northern Oil and Gas has reiterated its 2024 annual production and capital expenditure guidance. The company reported an average production volume of 121.6 – 121.8 MBoe per day for Q3 2024, with fewer well completions but increased refrac activity and strong well performance.
October 24, 2024 | 8:31 pm
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Northern Oil and Gas has maintained its 2024 production and capital expenditure guidance, with Q3 production averaging 121.6 – 121.8 MBoe per day. The company experienced fewer well completions but offset this with increased refrac activity and strong well performance.
The reiteration of production and capital expenditure guidance suggests stability and confidence in the company's operations. The strong well performance and increased refrac activity indicate operational efficiency, which is positive for the company's short-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100