Northern Oil and Gas Inc NOG

Energy Oil & Gas E&P

Northern Oil and Gas, Inc. is a real asset company that focuses on acquiring and investing in non-operated minority working and mineral interests in the hydrocarbon producing basins within the contiguous United States. Its business is crude oil and natural gas exploration, development, and production with operations in the United States. Its 300,000-acre portfolio is distributed across the Williston, Permian and Appalachia Basins. Its portfolio comprises 300,000 acres of low-breakeven land with over 10,000 wells. Diversified by basin and across commodity type, its wells are operated by over 100 public and private operators. It engages in oil and natural gas exploration and production by participating on a proportionate basis alongside third-party interests in wells drilled and completed in spacing units that include its acreage. It acquires wellbore-only working interests in wells. It owns the Utica and Northern Delaware Basin assets. It also owns Point Assets in the Delaware Basin.

NYSE:NOG - Post by User

Northern Oil and Gas Inc

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Comment by PWIB123on Apr 06, 2019 12:57pm

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Post# 29591959

RE:RE:RE:RE:RE:Avoid

What leverage ratio are you using? The company historically was highly leveraged, but it is in no way highly leveraged today. Company just reported in latest earnings report that goal is to keep debt-to-EBITDA below 2x at all times. Debt-to-EBITDA finished the year at 2.3x TTM and 1.7x based on the last quarter annualized. The next statement made in the earnings report was, "We would expect that the current levels of activity in the strip, for this to continue to ratchet down throughout the end of this year and beyond."

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