Mar. 23 at 4:07 PM
$NOG i think this is the worst E&P I have ever seen. Doesn't go up with oil but moves down with it.
Management is incompetent. Diluting sh and adding debt to forcibly grow in 2023/24 while oil was in clear downtrend just get rugpulled in 2025, stock down 50%. Buying back stock at avg
$36 in 2024 and
$29 in 2025 just to issue many more shares @
$28 in 2026.
Bought NG assets in Dec 2025 when NG was
$5, just few weeks later down 40% to
$3.
Forced to run large hedge book due to overleverage and inability to read oil&gas cycles.