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Northern O&G Sees Operators Tapping Core of the Bakken
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Northern Oil and Gas, Inc. announced 2015 second quarter results.
2015 2Q Highlights:Production averaged 16,610 barrels of oil equivalent per day, for a total of 1,511,554 Boe, an 8% increase over the second quarter of 2014 Oil and gas sales, including settled derivatives (hedges), totaled $94.0 million Northern added 68 gross (6.9 net) wells to production during the second quarter Approximately 2.9 million barrels of oil are hedged for the next four calendar quarters at an average price of approximately $90.00 per barrel Enhanced liquidity position with $185 million of net proceeds from the May 2015 senior notes offering $7.3 million weighted average AFE cost for wells consented to during the second quarter, down 21% from 2014
Northern's Chairman and Chief Executive Officer, Michael…
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