Investor Presentaiton
Enhanced Liquidity Position - Pro Forma for Recent Capital Raise
NOG has methodically managed its debt structure and maturity wall. High quality asset base has driven increases
to credit facility as well as attracting new members to the syndicate.
.
Issued Common Stock in October 2023, raising ~$290.6 million of net proceeds for general corporate purposes
Borrowing base expanded to $1.8 billion with an elected commitment of $1.25 billion (August 2023)
Expecting to achieve long-term leverage target of 1.0x Net Debt / EBITDA during the first half of 2024
.
• NOG has approximately $1.2 billion in liquidity, post-offering
09/30/23
($ in millions)
$1.8 Billion Borrowing base with a $93.4 balance
on the revolver(1)
2023
2024
2025
2026
! $1,800
$93.4
2027
Pro Forma Revolver Capacity (1) Senior Notes
1) Revolver outstanding balance and capacity as of 9/30/2023, pro forma for the $290.6 million in proceeds from the October equity capital raise.
$705.1
$500
$500
2028
2029
2030
2031
Q3 2023 Earnings Presentation 22 NOGView entire presentation