Northern Oil & Gas Ups Production and Spending Guidance

August 1, 2024--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--After reporting an increase in quarterly production, mostly in oil, U.S. shale player Northern Oil & Gas Incorporated (NYSE:NOG) (NOG) (Minnetonka, Minnesota) revised most of its metrics, from capital expenditures to production, higher for the year. NOG reported second quarter production of 123,342 barrels of oil equivalent per day (BOE/d), a 3% increase from first-quarter levels and 36% higher year-on-year. Net oil production accounted for 57% of the output and was 1% lower than first-quarter 2024 levels, but 27% higher than during the second quarter of 2023. Other companies featured: XCL Resources