MPDC

NOG Provides Fourth Quarter 2023 Operations Update and Preliminary 2024 Guidance

Retrieved on: 
Thursday, February 15, 2024
Energy, Natural Resources, Mining, Minerals, Oil, Gas, Permian, Ground game, Acquisition, NYMEX, Weather, Natural gas, Growth, D&C, Dislocation, Freezing, TILS, Forge, Acceleration, Public expenditure, NOG, Henry Hub, MPDC, Video game

Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced a fourth quarter 2023 operations update, also highlighting elective Ground Game acquisitions, and preliminary 2024 guidance.

Key Points: 
  • Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced a fourth quarter 2023 operations update, also highlighting elective Ground Game acquisitions, and preliminary 2024 guidance.
  • Fourth quarter 2023 production estimated to be 114.4 Mboe per day, resulting in annual production toward the high end of NOG’s guidance range
    Production volumes in the fourth quarter of 2023 are estimated to have averaged 114.4 Mboe per day.
  • Consequently, NOG incurred approximately $50 million of capital in the fourth quarter that was previously planned for 2024.
  • NOG expects first quarter 2024 production volumes to be slightly lower than the fourth quarter of 2023.

NOG Provides Update on 2023 Guidance and Preliminary Second Quarter Financial and Operational Update

Retrieved on: 
Wednesday, July 26, 2023
Oil, Gas, Energy, Well, Permian, TIL, NOG, MPDC, G&A, Public expenditure, Forge, TILS, Acquisition, DD, Growth, Boe, Curtailment (electricity), Airline, Video game, Risk management, Mascot

Production from the Forge and Novo acquisitions are reflected in the updated 2023 guidance, based on June 30 and August 15 (estimated) closings, respectively.

Key Points: 
  • Production from the Forge and Novo acquisitions are reflected in the updated 2023 guidance, based on June 30 and August 15 (estimated) closings, respectively.
  • The Company and its operating partners are adjusting 2023 activity and shifting select development into late 2023 and early 2024.
  • A portion of TIL deferrals relate to the Mascot project, where NOG and its partner have modified the completion schedule.
  • NOG expects capital expenditures for the second half of 2023 to be equally weighted by quarter.

NOG Announces Closing of Upsized Acquisition in Core Midland Basin Development Project

Retrieved on: 
Monday, January 9, 2023
Oil, Gas, Energy, Petro, Oil, MPDC, Acquisition, Mascot, NOG, NYSE, Hand, Bank

Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced the closing of its acquisition of non-operated properties in the core of the Midland Basin.

Key Points: 
  • Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced the closing of its acquisition of non-operated properties in the core of the Midland Basin.
  • On January 5, 2023, NOG closed on its previously announced acquisition of non-operated interests in the Mascot Project from Midland Petro D.C. Partners, LLC (“MPDC”).
  • The closing cash settlement is net of preliminary and customary purchase price adjustments and remains subject to post-closing settlements between NOG and MPDC.
  • NOG funded the acquisition with cash on hand, operating free cash flow and borrowings from NOG’s revolving credit facility.

NOG Announces Investment in Core Midland Basin Development Project

Retrieved on: 
Wednesday, October 19, 2022
Oil, Gas, Energy, Permian, MPDC, NOG, Securities Act of 1933, Citigroup Global Markets Japan, Kirkland & Ellis, Terrorism, Partner, Program, Acquisition, Legislation, Securities Exchange Act of 1934, Wells, Phrase, Public expenditure, Forward-looking statement, LLP, COVID-19, Financial adviser, Risk management

The properties have incurred minimal legacy vertical drilling relative to typical Midland Basin properties.

Key Points: 
  • The properties have incurred minimal legacy vertical drilling relative to typical Midland Basin properties.
  • The Mascot Project is operated by Permian Deep Rock Oil Company, an affiliate of MPDC, which is a David H. Arrington-owned business based in Midland, Texas.
  • NOG and MPDC have formulated a joint operating agreement with a plan to fully develop the units, completing the drilling project in 2024.
  • The effective date for the transaction is August 1, 2022, and NOG expects to close the transaction in January 2023.

Andros Capital Partners Closes $150 Million Permian Basin Drilling Joint Venture

Retrieved on: 
Wednesday, August 25, 2021
Oil, Gas, Energy, Petro, Permian, LLC, Program, Vinson & Elkins, Partner, MPDC, Oak Hill Capital Partners, LLP, Partnership, Willkie Farr & Gallagher, Oil, Andros Capital Partners LLC, Midland-Petro D.C. Partners, LLC, ANDROS CAPITAL PARTNERS LLC, MIDLAND-PETRO D.C. PARTNERS, LLC

Andros Capital Partners LLC (Andros) today announced it has closed a joint venture with Midland-Petro D.C. Partners, LLC (MPDC) under which Andros affiliate Andros Permian LLC will fund approximately $150 million to participate in a development drilling program targeting the highly productive Spraberry and Wolfcamp formations in Midland County, Texas.

Key Points: 
  • Andros Capital Partners LLC (Andros) today announced it has closed a joint venture with Midland-Petro D.C. Partners, LLC (MPDC) under which Andros affiliate Andros Permian LLC will fund approximately $150 million to participate in a development drilling program targeting the highly productive Spraberry and Wolfcamp formations in Midland County, Texas.
  • This transaction underscores Andros commitment to investing in high-quality assets in partnership with talented operators.
  • It also highlights our ability to construct a creative capital solution to enable our partner to advance their strategic objectives.
  • Andros Capital Partners is a private investment firm based in Houston, Texas.