Northern Oil and Gas “provided an update regarding first quarter hedging results and stock repurchases. The Company periodically enters into derivative agreements to hedge a portion of its commodity pricing exposure. For the first quarter of 2024, realized gains on derivatives are expected to be $19.1 million. Unrealized mark-to-market losses on derivatives are expected to be $146.2 million for the quarter. The Company allocated capital in the first quarter of 2024 to common stock repurchases. NOG repurchased 549,356 shares of its common stock at a weighted average price of $36.42 per share, repurchased prior to the most recent dividend record date. For comparative purposes, the average closing price of NOG’s common stock during March 2024 was $37.71, and the final closing price at quarter end was $39.68. As of the end of the first quarter, the Company had $67.5 million of availability remaining on its existing common stock repurchase authorization.”
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