Northern Oil & Gas posts transcript of Q2 2026 earnings call
NOG•Outlook and valuation comments
The CEO said asset value was above $7 billion versus a $4.6 billion enterprise value. For 2026, adjusted EBITDA is seen at $1.4 billion to $1.5 billion, with free cash flow of $375 million to $500 million.
Q2 2026 earnings call transcript posted
Northern Oil & Gas posted a second-quarter 2026 earnings call transcript. CEO Nicholas L. O’Grady, President Adam Dirlam, and CFO Chad Allen joined the call.
- Adjusted EBITDA rose 17% sequentially.
- Free cash flow jumped over 400% from Q1.
- Total production rose 9% year over year.
Operational update and shareholder returns
Permian volumes were curtailed on weak Waha economics. Management cited improving conditions, with volumes returning, including 3 net turn-in-lines for Q3.
Shareholder returns included repurchasing 2,950,000 shares at $20.37. The board lifted buyback capacity to about $243 million, and the dividend was set at $0.45.
