Michael Reger, Chairman and Chief Executive Officer of Northern Oil and Gas (NYSE MKT: NOG), presented today at EnerCom’s The Oil & Gas Conference® 20.
Northern Oil and Gas, Inc. is an independent energy company. The Company is engaged in the acquisition, exploration, exploitation, development and production of crude oil and natural gas properties. Its principal business is crude oil and natural gas exploration, development and production with operations in North Dakota and Montana that primarily target the Bakken and Three Forks formations in the Williston basin of the United States.
In the second quarter of 2015, Northern Oil and Gas averaged 16,610 BOEPD – an increase of 8% compared to Q2’14. The company plans on maintaining flat year-over-year production levels despite a 2015 capital plan of $140 million, which is 74% below 2014’s budget.
During the company’s breakout session, management was asked the following questions:
- You mentioned non-consent wells. What are those potential wells? How does that work?
- Can you talk about water handling?
- You partnered with some private operators, such as Slawson Exploration. What’s your reasoning behind this?
- What are your thoughts on hedging in 2017?
- Will there any material and/or leasing changes in this drilling downcycle?
- Are you going to reduce production in the current environment?
- Can you talk about your IRR hurdles?
- Have you considered buying back shares?
- How is your borrowing base determined?
- If you’re not drilling new wells, will you hedge on current production or on all of your production?
- If the oil price doesn’t change, how will you manage your future hedges?
- In what capacity can you oversee the completion pace of your program?
- What have you seen on land costs?
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