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Northern Oil Estimates 15% Production Drop YOY
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Northern Oil and Gas, Inc. announced 2016 second quarter results.
Key Points: Northern continues to expect 2016 total production to be down approximately 15% compared to 2015 production levels Highlights: Production increased 2.8% sequentially and averaged 13,933 barrels of oil equivalent per day, for a total of 1,267,860 Boe Oil and gas sales, including cash from settled derivatives, totaled $62.5 million Production expenses, including production taxes, for the second quarter declined 11% per Boe compared to the second quarter of 2015 Capital expenditures totaled $16.5 million during the second quarter, a reduction of 50.5% compared to the second quarter of 2015 Quarter-end liquidity totaled $221.7 million, composed of $3.7 million in cash and $218.0 million of revolving credit…- ✓ Full news archive — U.S., Canada & international coverage
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