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Northern O&G's Bakken Ops Hit by Weather Woes in 1Q

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Northern O&G's Bakken Ops Hit by Weather Woes in 1Q

Northern Oil and Gas, Inc. has reported 2014 first quarter results.

Highlights:

  • First quarter 2014 production of 1,195,866 barrels of oil equivalent, or 13,287 average Boe per day, a 20% increase over the first quarter of 2013
  • Oil and gas sales were $96.8 million, a 16% increase over the first quarter of 2013
  • Northern spud 142 gross (13.8 net) wells during the quarter, bringing wells drilling or awaiting completion to a record 298 gross (24.4 net) wells as of March 31, 2014
  • Northern repurchased 1,018,897 shares of its common stock during the first quarter of 2014 at an average price of $13.46 per share

Northern's Adjusted Net Income for the first quarter of 2014 was $11.4 million, or $0.19 per…

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