Northern Oil and Gas recently closed acquisitions in the Utica Shale and Delaware Basin. (Source: Shutterstock)
Non-op E&P Northern Oil and Gas (NOG), fresh off closing deals in the Utica Shale and Delaware Basin, has announced a $0.40 per share dividend, an 18% year-over-year increase.
NOG’s board declared a cash dividend payable on April 30 to stockholders of record as of the close of business on March 28.
“At the same time, through our practice of systematic hedging, we are protecting our underwritten returns. With an improved hedge profile, strong balance sheet and significant free cash flow, we have great options to deliver growth and value in multiple forms,” NOG CFO Chad Allen said in a press release.
With a current dividend yield of approximately 5% and a moderated commodity price environment, NOG plans to prioritize investments and potential share repurchases in 2024 to maximize shareholder returns, Allen said.
NOG also released details on its hedging program for 2024 through 2026.
Recommended Reading
Energy Transition in Motion (Week of Oct. 4, 2024)
2024-10-04 - Here is a look at some of this week’s renewable energy news, including the startup of a solar module manufacturing facility with an annual 2-gigawatt capacity.
RWE Breaks Ground on Battery Storage Project Trio in Texas
2024-10-03 - The Crowned Heron 1, Crowned Heron 2 and Cartwheel 1 projects will have a combined power capacity of 450 MW, RWE says.
Energy Transition in Motion (Week of Sept. 6, 2024)
2024-09-06 - Here is a look at some of this week’s renewable energy news, including $7.3 billion in clean energy funding for rural Americans.
Energy Transition in Motion (Week of Oct. 11, 2024)
2024-10-11 - Here is a look at some of this week’s renewable energy news, including nearly $7.9 million in bids for geothermal leases in Nevada.
RWE Pushes 1 GW of US Battery Energy Storage Projects to Boost Grid
2024-10-23 - As utility-scale battery energy storage projects boost grid reliability, RWE Clean Energy is adding projects in the U.S.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.