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2Q22 Earnings Presentation – Northern Oil and Gas, Inc.

Northern Oil and Gas, Inc. · Aug 3, 2022 · 24 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. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 1
    NYSE: NOG Q2:22 EARNINGS PRESENTATION NYSE: NOG
  2. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 2
    NYSE: NOG I. Q2 HIGHLIGHTS AND 2022 GUIDANCE II. NOG VALUE PROPOSITION III. APPENDIX: SUPPLEMENTAL INFO 2
  3. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 3
    Q2:22 FINANCIAL & OPERATING HIGHLIGHTS NYSE: NOG Q2:22 Earnings Highlights Record EBITDA, Growth, Exceptional Returns Q2 Free Cash Flow(1) Dividend Growth Record Adjusted EBITDA. 272.5MM in Q2, up 105% YoY 114.3MM +32% Increase…
  4. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 4
    YTD FCF AND SHAREHOLDER RETURNS AT A GLANCE NYSE: NOG NOG Continues a Balanced Approach Reduce Share Count, Debt, and Highest Cost of Capital Securities and Pay Rich Dividends YTD Free Cash Flow 260.3 million 57.5MM Face Value of…
  5. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 5
    Q2:22 PRODUCTION & CAPEX BREAKDOWN NYSE: NOG NOGs Commodity, Capital Expenditures and Production Mix Continue to Become More Diversified and Balanced Q2 2022 PRODUCTION BY REGION (Boe) Q2 2022 PRODUCTION BY COMMODITY (Boe) 18% Region…
  6. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 6
    UPDATED 2022 GUIDANCE NYSE: NOG Annual Production Guidance Raised in June; Oil and Gas Pricing Differentials Improved; LOE increased to account for higher NGL Prices and Pending Acquisition Annual Production (2-stream, Boe per day)…
  7. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 7
    NYSE: NOG I. Q2 HIGHLIGHTS AND 2022 GUIDANCE II. NOG VALUE PROPOSITION III. APPENDIX: SUPPLEMENTAL INFO 7
  8. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 8
    THE NOG INVESTMENT PROPOSITION NYSE: NOG National Non-Op Franchise Principled ROCE(1) Leader (37.6% in Q2:22) Diversified by Commodity and Geography Strong Expected Free Cash Flow(2): 500 MM Target in 2022 Return of Capital…
  9. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 9
    A DIVERSIFIED HIGH RETURN NON-OP E&P FRANCHISE NYSE: NOG NOGs acquisitions have created a high return national non-op franchise that is benefitting from economies of scale Going forward, NOG is positioned to continue to capitalize on…
  10. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 10
    A DIFFERENTIATED E&P GROWTH PLATFORM NYSE: NOG NOG continues to build scale as the largest dedicated public non-operated working interest company PRODUCTION CONTINUES TO RAMP WHILE MAINTAINING PEER-LEADING LOW CASH G&A(1) Material…
  11. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 11
    CREATING VALUE WITH FREE CASH FLOW NYSE: NOG Superior Investment Proposition: NOG has Consensus EPS Growth of 105% year-over-year(1), has a current annualized dividend yield of 3.5%(1), has reduced the diluted share count by over 3%…
  12. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 12
    PENDING WILLISTON BASIN ACQUISITION NYSE: NOG Williston Locator Map Key Statistics Price: 170 Million with 5 million earn-out potential(1) NTM Production: 2,500 Boepd (2-stream, 83% oil) Net Acreage: 3,500 Net Locations: 9.2 PDP/…
  13. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 13
    BALANCE SHEET & LIQUIDITY ENHANCEMENT CONTINUES NYSE: NOG Liquidity remains strong Company continues to generate substantial Free Cash Flow New Reserves Based Lending Facility: NOGs borrowing base redetermination is complete New…
  14. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 14
    NYSE: NOG I. Q2 HIGHLIGHTS AND 2022 GUIDANCE II. NOG VALUE PROPOSITION III. APPENDIX: SUPPLEMENTAL INFO 14
  15. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 15
    BEST-IN-CLASS BAKKEN; PERMIAN RESULTS IMPRESS NYSE: NOG Strong and consistent productivity from NOGs two largest basins by revenue Williston Basin Productivity Permian Basin Productivity 350,000 2017 Cum (1) 400,000 (1) (1) 325,000…
  16. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 16
    GROUND GAME A HIGH RETURN NOG EXCLUSIVE NYSE: NOG Another Year of Highly Accretive Full Cycle Return Opportunities 2022 Ground Game Wells in Process Acquisitions Free Cash Flow Derivation (MM) 2022 2023 2024 2025 100 Net Wells…
  17. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 17
    BENEFITS OF NOGS NON-OPERATED MODEL NYSE: NOG HIGH RETURN WAY TO PLAY E&P SPACE Low cost structure & High corporate ROCE Unit G&A costs less than operating peers Scalable Model: NOG has just 32 employees SHALE 3.0 BENEFICIARY…
  18. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 18
    ESG IS FRONT AND CENTER WITH EVERYTHING WE DO NYSE: NOG NOGs Current Top Ten Public Operators Represent a Whos Who of ESG Stewardship EQT CLR OVV CHRD COP EOG HES DVN ERF XOM Dedicated ESG Section of Website Board-Level Oversight…
  19. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 19
    HEDGE PROFILE - SWAPS NYSE: NOG NOG 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 SWAPS…
  20. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 20
    HEDGE PROFILE COLLARS NYSE: NOG NOG 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 COLLARS…
  21. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 21
    HISTORICAL OPERATING & FINANCIAL INFORMATION NYSE: NOG Historical Operating Information Years Ended December 31, 2019 2020 2021 2Q21 2Q22 Production Oil (MBbls) 11,325.4 9,361.1 12,288.4 3,034.4 3,801.7 Natural Gas and NGLs (Mmcf)…
  22. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 22
    NON-GAAP RECONCILIATIONS: ADJUSTED EBITDA & OTHER NYSE: NOG Adjusted EBITDA by Year (in thousands) 2019 2020 2021 Net Income (Loss) (76,318) (906,041) 6,361 Add: Interest Expense 79,229 58,503 59,020 Income Tax Provision (Benefit)…
  23. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 23
    NON-GAAP RECONCILIATIONS: ROCE & RECYCLE RATIO NYSE: NOG Q2:22 Return on Capital Employed (ROCE) EBIT: 871.0MM (Q2:22 annualized) + Adj. EBITDA: 272.5MM - DD&A: 54.8MM Capital EBIT Employed = 74.2% Capital Employed: 1,173.6MM…
  24. 2Q22 Earnings Presentation – Northern Oil and Gas, Inc. – slide 24
    NON-GAAP RECONCILIATIONS: FREE CASH FLOW NYSE: NOG Free Cash Flow (FCF) (in thousands) 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 Net Cash Provided by Operating Activities 62,766 106,186 94,413 133,102 154,034 210,239 Exclude: Changes in…

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