NYSE American: NOG ENERCOM DENVER NYSE American: NOG
DISCLAIMER NYSE American: NOG Forward Looking Statements This presentation contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933,…
DISCLAIMER (Cont.) NYSE American: NOG Industry and Marketing Data Although all information and opinions expressed in this presentation, including market data and other statistical information (including estimates and projections…
NYSE American: NOG I. NORTHERN VALUE PROPOSITION II. 2021 GROUND GAME & M&A REVIEW III. Q2:21 HIGHLIGHTS & GUIDANCE IV. APPENDIX: SUPPLEMENTAL INFO Northern Oil & Gas, Inc. - November 2020 4
NORTHERNS NON-OP FRANCHISE SHINES IN A SHALE 3.0 WORLD NYSE American: NOG Lean business model (0.77/G&A) drives ROCE (1) leadership (23.2% in Q2:21) 250MM of high return, accretive non-op deals done YTD. Robust deal pipeline…
DIVERSIFIED HIGH RETURN NON-OP E&P PORTFOLIO NYSE American: NOG Northerns Marcellus and Permian acquisitions create a national non-op franchise, with a significantly larger base footprint and production diversified across three leading…
PARTNERED WITH BASIN LEADERS NYSE American: NOG Leverage to some of the best performing operators in multiple basins % OF NET PRODUCION WELLS BY OPERATOR OTHERS…
BENEFITS OF NORTHERNS NON-OPERATED 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…
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…
SCALING THE BUSINESS 4X AND REDUCING LEVERAGE NYSE American: NOG 8.0 x 60.0 54.6 7.0 x 6.8 x 50.0 6.0 x Production (Mboepd) 40.0 Total Debt / Adj. EBITDA 5.0 x 38.4 38.6 33.1 4.0 x 30.0 25.6 3.0 x 2.7 x 2.5 x…
MAJOR BALANCE SHEET UPGRADE ACHIEVED IN 2021 NYSE American: NOG ( in millions) 950 million of funded debt (100% of total) due by 2024 12/31/20 128 532 288 65 65 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Revolver…
LEVERAGE REDUCTION DRIVES 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 deleveraging…
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…
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 with 2021 exiting with…
NYSE American: NOG I. NORTHERN VALUE PROPOSITION II. 2021 GROUND GAME & M&A REVIEW III. Q2:21 HIGHLIGHTS & GUIDANCE IV. APPENDIX: SUPPLEMENTAL INFO Northern Oil & Gas, Inc. - November 2020 15
GROUND GAME A HIGH RETURN NOG EXCLUSIVE 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 50 Net…
RELIANCE MARCELLUS ACQUISITION (2/3 ANNOUNCED) NYSE American: NOG Northern agreed to acquire a non-operated interest in Appalachia natural gas assets from Reliance Marcellus, LLC Transaction (Reliance) for an unadjusted cash purchase…
ENTRY INTO ATTRACTIVE BASIN WITH A LEADING LOW COST OPERATOR EQT NYSE American: NOG Non-operated interests in the Reliance / EQT Participation and Development Agreement (PDA) Average, blended working interest of 27% EQT announced…
MARCELLUS DEAL- PV22 VALUATION WITH MEANINGFUL UPSIDE NYSE American: NOG In addition to operational improvements and capital efficiencies future performance is expected to benefit from operational expertise from EQT 250MM in Potential…
PERMIAN ACQUISITIONS (6/16 ANNOUNCED) NYSE American: NOG Acquisition Highlights Summary Transaction Stats Unadjusted Purchase Price: 102.2 Million Continues to establish Northern as the premier multi-basin Net Acreage: 2,900 Permian…
PERMIAN - 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…
NYSE American: NOG I. NORTHERN VALUE PROPOSITION II. 2021 GROUND GAME & M&A REVIEW III. Q2:21 HIGHLIGHTS & GUIDANCE IV. APPENDIX: SUPPLEMENTAL INFO Northern Oil & Gas, Inc. - November 2020 23
Q2:21 FINANCIAL & OPERATING HIGHLIGHTS NYSE American: NOG Q2:21 Earnings Highlights Q2 Free Cash Flow(1) + Dividend Momentum Record Free Cash Flow Returns Free Cash Flow. Free cash flow hit a record 46.2MM in Q2. NOGs 46.2MM 50%…
2021 WELLS DRIVING EXCEPTIONAL RESULTS NYSE American: NOG 220 2020 YE Internal Type Curve 220 200 200 180 180 160 160 Cumulative Oil Production (mbbls) 140 Daily Production 140 Well Count 120 Performance of wells…
NON-OP OF SCALE WITH IMPROVING COST STRUCTURE NYSE American: NOG Participation in the highest quality wells with stable AFE costs generates consistent production & higher IRRs STEADY DEVELOPMENT ACTIVITY WHILE PRODUCTION CONTINUES TO…
UPDATED 2021 GUIDANCE POST PERMIAN ACQUISTIONS NYSE American: NOG Net/Net: Production Up; CAPEX Down; Cost Structure Trending Lower PRIOR ADJUSTED Annual Production (Boe per day) 47,167 - 53,424* 49,500 - 54,250 Oil % 62 - 64%*…
NYSE American: NOG I. NORTHERN VALUE PROPOSITION II. 2021 GROUND GAME & M&A REVIEW III. Q2:21 HIGHLIGHTS & GUIDANCE IV. APPENDIX: SUPPLEMENTAL INFO Northern Oil & Gas, Inc. - November 2020 28
NOG COMMITTED TO GOOD GOVERNANCE NYSE American: NOG ENVIRONMENTAL SOCIAL GOVERNANCE Operators are selected for Separate CEO and Chairman environmental and safety NOG employees provided roles records free health care and paid…
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.…
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…
HISTORICAL OPERATING & FINANCIAL INFORMATION NYSE American: NOG 2017 2018 2019 2020 June 30, 2020 June 30, 2021 PRODUCTION Oil (MBbls) 4,537.3 7,790.2 11,325.4 9,361.1 1,659.3 3,034.4 Natural Gas and NGLs (Mmcf) 5,187.9 9,224.8…
NON-GAAP RECONCILIATIONS: ADJUSTED EBITDA & OTHER NYSE American: NOG Adjusted EBITDA by Year (in thousands) 2017 2018 2019 2020 Net Income (Loss) (9,194) 143,689 (76,318) (906,041) Add: Interest Expense 70,286 86,005 79,229 58,503…
NON-GAAP RECONCILIATIONS: ROCE & RECYCLE RATIO NYSE American: NOG Q2:21 Return on Capital Employed (ROCE) EBIT: 407.74MM (Q2:21 annualized) + Adj. EBITDA: 132.84MM - DD&A: 30.91MM Capital EBIT Employed = 43.5% Capital Employed:…
NON-GAAP RECONCILIATIONS: FREE CASH FLOW NYSE American: NOG Free Cash Flow (FCF) (in thousands) 1Q21 2Q21 Net Cash Provided by Operating Activities 62,766 106,186 Exclude: Changes in Working Capital and Other Items 20,814 12,204…
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