NOG - Northern Oil and Gas bumps up notes buyback updates on Q1 hedging and capital
2023-04-19 09:59:35 ET
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Northern Oil and Gas ( NYSE: NOG ) said Wednesday its unrealized mark-to-market gains on derivatives are expected to be about $140.0 million and realized derivative hedge gains to be about $13.6 million for the first quarter of 2023.
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On March 16, NOG's board increased the notes repurchase authorization by $100.0 million, bringing the total availability under the program to $105.1 million at Q1 end.
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For Q1, NOG said it put aside $26.4 million of capital for repurchasing common stock and senior unsecured notes due 2028.
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Using the allocated capital, NOG bought back 287,751 shares in Q1 at a weighted average price of $27.82 per share.
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Northern Oil and Gas bumps up notes buyback, updates on Q1 hedging and capital