NOG Reiterates Capital Expenditure And Production Guidance

Benzinga · Nov 5 16:24

2024 ANNUAL GUIDANCE(1)

NOG is reiterating capital expenditure and production guidance and adjusting certain line items. Production taxes are being adjusted to reflect current expectations for the remainder of the year. Natural gas realizations and oil differentials are being adjusted to reflect results experienced year-to-date. Per unit cash G&A is being lowered as the Company has reduced certain external expenses and continues to benefit from increasing production volumes.

	Prior Guidance	Revised Guidance
Annual Production (Boe per day)	120,000 - 124,000	120,000 - 124,000
Annual Oil Production (Bbls per day)	73,000 - 76,000	73,000 - 76,000
Total Capital Expenditures ($ in millions)	$890 - $970	$890 - $970
Net Wells Turned-in-Line ("TIL")	93.0 - 98.0	93.0 - 98.0
Net Wells Spud	73.0 - 78.0	73.0 - 78.0

Operating Expenses and Differentials:
Production Expenses (per Boe)	$9.15 - $9.40	$9.15 - $9.40
Production Taxes (as a percentage of Oil & Gas Sales)	9.0% - 9.5%	8.5% - 9.0%(2)
Average Differential to NYMEX WTI (per Bbl)	($4.00) - ($4.85)	($4.00) - ($4.50)
Average Realization as a Percentage of NYMEX Henry Hub (per Mcf)	87.5% - 92.5%	90.0% - 95.0%
DD&A Rate (per Boe)	$16.50 - $17.50	$16.50 - $17.50

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NOG Reiterates Capital Expenditure And Production Guidance

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