Northern Oil & Gas Breakout Notes
Brandon Elliot, executive vice president of Northern Oil and Gas, Inc., (ticker: NOG) presented today at EnerCom’s The Oil & Gas Conference® 22.
Northern Oil and Gas is an E&P company producing mainly out of the Williston basin. The company is further utilizing enhanced completions with the intent of growing its production.
During Q2, 2017 Northern grew its production by 4% up to 13,794 BOEPD. It turned 4.3 wells to production during the quarter and, over its Williston and Three Forks development areas, leased 148,571 net acres. Approximately 84% of its acreage was developed, held by production, or held by operations.
During the company’s breakout session, management was asked the following questions:
- Can you talk about your completion design?
- Your net wells are 10% of your gross wells. Will this pattern continue in the future?
- Is keeping the number of 12 wells the target or could you improve performance by increasing the number of wells?
- Do you see Northern to become more non-consent with capital investments?
- How many wells do your review per year?
- Given the amount of acreage, would re-fracking wells show economic benefits?
- What are the important dates related to the revolver?
Northern Oil & Gas presented at EnerCom’s 2017 The Oil & Gas Conference®.
You can listen to the company’s presentation by clicking here.
