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)

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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. 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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"}}}