Jul. 13 at 3:44 PM
$NOG The second half is different:
1. The Financial Penalty is Gone. The Past (H1): Earlier this year, NOG was trapped in bad financial contracts. When oil spiked, they lost
$85M to
$90M because they were legally forced to sell their oil cheaply. Today (H2): Those bad contracts have expired. Management officially confirmed today that higher oil prices will no longer trigger heavy cash penalties. NOG can finally keep the extra profit from rising prices.2. High Profits on Unhedged Oil30% to 40% Exposure: NOG purposely leaves a large portion of its oil production completely unhedged (exposed to market prices). Instant Cash Boost: Because of the renewed U.S.–Iran conflict driving prices up today, NOG gets to sell all of those unhedged barrels at premium, peak-market prices, sending pure profit straight to its bank account.3. More Cash to Fight the Low Stock Price. Fueling Buybacks: NOG will expanded
$243 million stock buyback program, purchasing its own cheap stock.