Northern Q3 Earnings Beat on Strong Production, Sales Miss
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Northern Oil and Gas (NOG) reported strong Q3 earnings due to robust production, although sales fell short of expectations. The company projects annual oil production of 73,000-76,000 barrels per day and total production of 120,000-124,000 Boe/d in 2024.
November 13, 2024 | 1:30 pm
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Northern Oil and Gas (NOG) reported better-than-expected Q3 earnings driven by strong production levels, though sales did not meet expectations. The company forecasts significant production growth in 2024.
The strong earnings report is likely to positively impact NOG's stock price in the short term, as it indicates robust production capabilities. However, the sales miss may temper some of the enthusiasm. The positive production outlook for 2024 further supports a favorable view.
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