Northern Oil and Gas Adds To Its Permian Position

Summary

  • Northern Oil and Gas made a $110 million Midland Basin acquisition.
  • It has also spent over $100 million on preferred and common share repurchases during 2022.
  • Northern is now projected to end 2022 with $1.02 billion in net debt, which would give it 0.9x leverage.
  • Northern appears to have reasonable upside in a long-term (after 2023) $75 WTI oil scenario.
  • Looking for more investing ideas like this one? Get them exclusively at Distressed Value Investing. Learn More »

Oil Pumps And Rig At Sunset By The Sea

imaginima

Northern Oil and Gas (NYSE:NOG) continues to grow through acquisitions, this time paying $110 million to Laredo Petroleum (LPI) for non-operated (mostly operated by SM Energy (SM)) working assets in the Midland Basin (Howard County). This acquisition combined with Northern's spending on preferred

Free Trial Offer

We are currently offering a free two-week trial to Distressed Value Investing. Join our community to receive exclusive research about various energy companies and other opportunities along with full access to my portfolio of historic research that now includes over 1,000 reports on over 100 companies.

This article was written by

11.53K Followers
Aaron Chow, aka Elephant Analytics has 15+ years of analytical experience and is a top rated analyst on TipRanks. Aaron previously co-founded a mobile gaming company (Absolute Games) that was acquired by PENN Entertainment. He used his analytical and modeling skills to design the in-game economic models for two mobile apps with over 30 million in combined installs. He is the author of the investing group Distressed Value Investing, which focuses on both value opportunities and distressed plays, with a significant focus on the energy sector. Learn more>>

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

About NOG Stock

SymbolLast Price% Chg
Market Cap
PE
Yield
Rev Growth (YoY)
Short Interest
Prev. Close
Compare to Peers

More on NOG

Related Stocks

SymbolLast Price% Chg
NOG
--