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MINNEAPOLIS–(BUSINESS WIRE)–Mar 12, 2021– Northern Oil and Gas, Inc. (NYSE American: NOG) (“Northern”) today announced the company’s fourth quarter and full year 2020 results. MANAGEMENT COMMENTS “Northern enters 2021 in an enviable position,” commented Nick O’Grady, Northern’s Chief Executive Officer. “The fourth quarter showed the durability of our strategy, the cash generating power of our asset base, and our commitment to focusing on return on capital employed. The flexibility and dynamic nature of our non-operated business model have never been so clear. We enter 2021 as a multi-basin company, dedicated to the allocation of capital into the highest return projects, with a reinvigorated capital structure that should provide for growth opportunities and a clear path to our ultimate goal: to responsibly return capital to shareholders.” FINANCIAL RESULTS Fourth quarter Adjusted Net Income was $35.7 million or $0.64 per diluted share, up from $21.5 million or $0.50 per diluted share in the prior year. Fourth quarter GAAP net loss was $146.2 million or $3.21 per diluted share. Adjusted EBITDA in the fourth quarter was $94.3 million. Full year 2020 Adjusted Net Income was $96.0 million or $1.82 per diluted share. Full year 2020 GAAP net loss was $921.3 million or […]
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