NOG - Northern Oil And Gas: Expecting Close To $500 Million In 2024 Free Cash Flow
2024-02-24 06:45:48 ET
Summary
- Northern Oil and Gas is projected to generate $489 million in 2024 free cash flow at the current strip.
- Production is shifting towards the Permian, with more spending being devoted there and its recent bolt-on Northern Delaware Basin acquisition.
- The Williston Basin is still a significant secondary investment focus though, attracting around 35% of Northern's 2024 capex budget.
- Northern expects wider oil and gas differentials for 2024, although it noted that it was attempting to be conservative with its guidance.
Northern Oil and Gas ( NOG ) appears capable of generating close to $500 million in free cash flow in 2024 at current strip based on its guidance . Northern increased its quarterly dividend to $0.40 per share , which should leave $328 million of its free cash flow (after dividend payments) for other uses....
Northern Oil And Gas: Expecting Close To $500 Million In 2024 Free Cash Flow