Skip to main content Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. Investor Presentation | Shale Experts
Loading...
Pm

Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc.

Northern Oil and Gas, Inc. · Jun 1, 2021 · 34 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 1
    NYSE American: NOG JUNE 2021 PERMIAN ACQUISITIONS NYSE American: NOG
  2. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 2
    NYSE American: NOG I. PERMIAN ACQUISITION SUMMARY II. NORTHERN VALUE PROPOSITION III. APPENDIX: SUPPLEMENTAL INFO Northern Oil & Gas, Inc. - November 2020 4
  3. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 3
    NORTHERN ESTABLISHES SCALE IN THE PERMIAN BASIN NYSE American: NOG Acquisition Highlights Summary Transaction Stats Total Purchase Price: 102.2 Million Continues to establish Northern as the premier multi-basin Net Acreage: 2,900…
  4. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 4
    PERMIAN TRANSACTION OVERVIEW NYSE American: NOG Agreement to acquire non-operated interests in the core of the Permian Basin for a cash purchase price of 102.2MM (the Permian Transaction transaction) Summary Effective date for…
  5. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 5
    HIGHLY ECONOMIC INVENTORY UNDERPINNED BY AN ESTABLISHED PRODUCTON BASE AND HIGH QUALITY OPERATORS NYSE American: NOG Inventory of 23.1 net undrilled locations with highly attractive returns North Eddy Stats(3) 33.97 B/E WTI(2) Gross…
  6. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 6
    PERMIAN BASIN CONTINUES TO LEAD THE RECOVERY NYSE American: NOG Permian Basin is leading U.S. Shale into the recovery while oil supply growth is expected to remain muted across the rest of the Lower 48 Permian Completion Activity…
  7. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 7
    ATTRACTIVE IMPLIED VALUATION METRICS NYSE American: NOG Production Operating Cash Flow & Cum. Free Cash Flow 40MM 100MM Production 2,200 Boe/d 3,700 Boe/d 6,500 Boe/d Forecasted Forecasted (Boe/d) Operating CF NTM Operating Cum. FCF…
  8. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 8
    SETTING THE STAGE FOR FUTURE CONSOLIDATION NYSE American: NOG Northern is the natural consolidator of non-operated working interest across the Lower 48 Have executed on over 1.3 billion in accretive acquisitions since 2018 Believe we…
  9. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 9
    2021 GUIDANCE ADJUSTMENTS DECREASE TO BASE CAPEX NYSE American: NOG 35MM of CapEx expected on the acquired Permian assets through the remainder of 2021 Capex on Northerns legacy assets reduced 15-20 MM due to improved capital…
  10. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 10
    ONGOING LEVERAGE REDUCTION WILL DRIVE A HIGHER DIVIDEND NYSE American: NOG Northern is committed and well positioned to return capital to shareholders via dividend growth Our dividend growth strategy is correlated to our corporate…
  11. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 11
    NYSE American: NOG I. Q1 TAKEAWAYS AND GUIDANCE II. NORTHERN VALUE PROPOSITION III. APPENDIX: SUPPLEMENTAL INFO 13
  12. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 12
    NEW NORTHERN: DIVERSIFIED HIGH RETURN NON-OP E&P FRANCHISE NYSE American: NOG Northerns Marcellus acquisition creates a national non-op franchise, with a significantly larger base footprint and production diversified across three…
  13. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 13
    THE NORTHERN INVESTMENT PROPOSITION NYSE American: NOG National non-op franchise principled ROCE (1) leader (25.4% in Q1:21) diversified by commodity and geography Strong expected Free Cash Flow(2): 150MM in 2021 and 800MM through…
  14. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 14
    THE NEW NORTHERN OIL AND GAS NYSE American: NOG Northern is the pre-eminent E&P with focus on non-operated model offering superior returns and free cash flow generation Exposure to set of leading operators in Williston and Permian (75%…
  15. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 15
    SHALE 3.0 PARADIGM IDEAL FOR ACTIVE NON-OP MODEL NYSE American: NOG Capital Constrained E&Ps reassessing their Non-Op Positions SHALE 3.0 Operators commit to CAPEX levels no more than 70-80% of cash flow. A growth-driven shale…
  16. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 16
    BENEFITS OF NORTHERNS NON-OPERATOR MODEL NYSE American: NOG HIGH RETURN WAY TO PLAY E&P SPACE Peer leading cost structure & Corporate ROCE Unit G&A costs 50% less than operating peers Scalable Model: NOG has only 26 employees…
  17. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 17
    RETURNS METRICS CONTINUE TO LEAD THE PACK NYSE American: NOG High Return Business Driven by Low G&A Burden Peer-Leading ROCE (2021) Raymond James E&P Research Coverage 35% 30% 25% Non-operator model allows us to 20% 15% run a…
  18. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 18
    GROUND GAME DIFFERENTIATED HIGH RETURN OPPORTUNTIES NYSE American: NOG Another Year of Highly Accretive Full Cycle Return Opportunities 2021 Ground Game Wells in Process Acquisitions Free Cash Flow Derivation (MM) 2021 2022 2023 2024…
  19. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 19
    NORTHERN COMMITTED TO GOOD GOVERNANCE NYSE American: NOG ENVIRONMENTAL SOCIAL GOVERNANCE Operators are selected for Northern employees Separate CEO and Chairman environmental and safety provided free health care roles records and…
  20. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 20
    DIVERSIFIED BASE & PARTNERED WITH BASIN LEADERS NYSE American: NOG Leverage to some of the best performing operators in multiple basins % OF NET PRODUCING WELLS BY OPERATOR OTHERS…
  21. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 21
    TOP-TIER BAKKEN; EARLY PERMIAN RESULTS IMPRESS NYSE American: NOG High-grading of well locations has led to improved well recoveries across both basins Consistent Williston Basin Productivity Permian Basin Productivity 300,000…
  22. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 22
    NON-OP OF SCALE WITH IMPROVING COST STRUCTURE NYSE American: NOG Participation in high quality wells with stable AFE costs generates consistent production & higher IRRs Organic Net Wells added to Production Production (mBoe/d)…
  23. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 23
    CURRENT BAKKEN SNAPSHOT NYSE American: NOG Portfolio of high-quality acreage in the heart of the basin with interests in over 7,000 gross Bakken/Three Forks oil wells NET ACREAGE SUMMARY 9% 9% 8% 182,610 NET ACRES 91% 91%…
  24. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 24
    STRONG BAKKEN INVENTORY DRIVES NAV UPSIDE NYSE American: NOG Undeveloped Locations By Operator Undeveloped Locations By Reservoir OTHERS 111.8 155.1 TF3 41.6 86.2 TF2 25.6 113.6 28.6 BKKN 32.3 320.5 78.4 46.2 TF1 73.5…
  25. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 25
    2020 PUD WELLS EXCEEDING RESERVE AUDITOR EXPECTATIONS NYSE American: NOG 220 220 2020 Internal Type Curve 200 200 180 180 160 160 Cumulative Oil Production (mbbls) 140 140 Well Count 120 Performance of wells 120…
  26. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 26
    Q1:21 FINANCIAL & OPERATING HIGHLIGHTS NYSE American: NOG Q1:21 Earnings Highlights Q1 Free Cash Flow(1) Dividend Established Strong Free Cash Flow from Another High Return Quarter Free Cash Flow +43% QoQ. Capex decreased 22%…
  27. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 27
    ACCELERATING DELEVERAGING WHILE MAINTAING LIQUIDITY NYSE American: NOG ( in millions) 950 million of funded debt (100% of Weighted Avg. Maturity: 2.4 years total) due by 2024 BB Capacity: 128 million Q420 Net Debt / LTM EBITDA:…
  28. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 28
    NYSE American: NOG I. Q1 TAKEAWAYS AND GUIDANCE II. NORTHERN VALUE PROPOSITION III. APPENDIX: SUPPLEMENTAL INFO 30
  29. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 29
    NORTHERNS SENIOR MANAGEMENT TEAM NYSE American: NOG Nicholas OGrady: Chief Executive Officer Nicholas OGrady has served as Chief Executive Officer since January 2020, following 18 months as the Companys Chief Financial Officer. Mr.…
  30. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 30
    HEDGE PROFILE NYSE American: NOG Northern continues to execute a strategy built around the safeguard of returns during a commodity down-cycle, while retaining flexibility to capture the opportunistic upside CRUDE OIL DERIVATIVE PRICE…
  31. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 31
    HISTORICAL OPERATING & FINANCIAL INFORMATION NYSE American: NOG HISTORICAL OPERATING INFORMATION YEAR ENDED DECEMBER 31, THREE MONTHS ENDED, 2015 2016 2017 2018 2019 2020 March 31, 2020 March 31, 2021 PRODUCTION Oil (MBbls) 5,168.7…
  32. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 32
    NON-GAAP RECONCILIATIONS: ADJUSTED EBITDA & OTHER NYSE American: NOG Adjusted EBITDA by Year (in thousands) 2015 2016 2017 2018 2019 2020 Net Income (Loss) (975,355) (293,494) (9,194) 143,689 (76,318) (906,041) Add: Interest…
  33. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 33
    NON-GAAP RECONCILIATIONS: ROCE & RECYCLE RATIO NYSE American: NOG Q1:21 Return on Capital Employed (ROCE) EBIT: 270.2MM (Q1:21 annualized) + Adj. EBITDA: 98.77MM Capital - DD&A: 31.22MM EBIT Employed = 25.4% Capital Employed:…
  34. Northern Oil Permian Acquisitions June 2021 – Northern Oil and Gas, Inc. – slide 34
    NON-GAAP RECONCILIATIONS: FREE CASH FLOW NYSE American: NOG Q1:21 Free Cash Flow (FCF) (in thousands) 1Q21 Net Cash Provided by Operating Activities 62,766 Exclude: Changes in Working Capital and Other Items 20,814 Less: Capital…

From the store

Browse maps, data & reports in the Shale Experts store