Northern Oil and Gas Shares Rise on Bigger Buyback, Reaffirmed Guidance

Dow Jones

Jul 13

Northern Oil and Gas shares rose after the company increased its share-repurchase authorization and reiterated its 2026 production and capital expenditure guidance.

Shares were recently up 6.3% at $19.68 in late Monday morning trading. The stock is down 28% over the past three months.

NOG said its board lifted the common stock repurchase program to about $243 million and that it bought back 2.95 million shares in the second quarter at an average price of $20.37, offsetting shares issued in the Duvernay joint development acquisition that closed June 1.

The company reaffirmed its full-year production and said shut-in Permian volumes tied to weak Waha gas pricing were returning as the quarter ended. Second-quarter oil production is expected to average 67.5 to 68.25 thousand barrels a day, with record gas volumes despite curtailments. Capital spending for the quarter is seen at $190 million to $200 million.

NOG also reported ground-game deals adding over 2,300 net acres and 6.2 net wells in the quarter, and estimated second-quarter unrealized hedge gains of $155 million to $160 million and realized hedge losses of $85 million to $90 million.

Write to Doc Louallen at Doc.Louallen@wsj.com

(END) Dow Jones Newswires

July 13, 2026 11:49 ET (15:49 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The stock is down 28% over the past three months. \n</p>\n<p>\n  NOG said its board lifted the common stock repurchase program to about $243 million and that it bought back 2.95 million shares in the second quarter at an average price of $20.37, offsetting shares issued in the Duvernay joint development acquisition that closed June 1. \n</p>\n<p>\n  The company reaffirmed its full-year production and said shut-in Permian volumes tied to weak Waha gas pricing were returning as the quarter ended. Second-quarter oil production is expected to average 67.5 to 68.25 thousand barrels a day, with record gas volumes despite curtailments. Capital spending for the quarter is seen at $190 million to $200 million. \n</p>\n<p>\n  NOG also reported ground-game deals adding over 2,300 net acres and 6.2 net wells in the quarter, and estimated second-quarter unrealized hedge gains of $155 million to $160 million and realized hedge losses of $85 million to $90 million. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Doc Louallen at Doc.Louallen@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 13, 2026 11:49 ET (15:49 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NOG","symbol_name":"Northern Oil & Gas","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2651014806","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2651014806","pubTimestamp":1783957740,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Northern Oil and Gas shares rose after the company increased its share-repurchase authorization and reiterated its 2026 production and capital expenditure guidance.Shares were recently up 6.3% at $19.68 in late Monday morning trading. 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The stock is down 28% over the past three months. \n\n\n  NOG said its board lifted the common stock repurchase program to about $243 million and that it bought back 2.95 million shares in the second quarter at an average price of $20.37, offsetting shares issued in the Duvernay joint development acquisition that closed June 1. \n\n\n  The company reaffirmed its full-year production and said shut-in Permian volumes tied to weak Waha gas pricing were returning as the quarter ended. Second-quarter oil production is expected to average 67.5 to 68.25 thousand barrels a day, with record gas volumes despite curtailments. Capital spending for the quarter is seen at $190 million to $200 million. \n\n\n  NOG also reported ground-game deals adding over 2,300 net acres and 6.2 net wells in the quarter, and estimated second-quarter unrealized hedge gains of $155 million to $160 million and realized hedge losses of $85 million to $90 million. \n\n\n \n\n\n  Write to Doc Louallen at Doc.Louallen@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 13, 2026 11:49 ET (15:49 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}