Investor Presentaiton
Enhanced Liquidity Position
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 $500MM of 8.75% Senior Notes due 2031 in May 2023 to term out borrowings on its credit facility
.
Issued Common Stock in May 2023, raising ~$225 million of net proceeds to fund Forge acquisition and for general corporate purposes
• Borrowing base expanded to $1.8 billion with an elected commitment of $1.25 billion (August 2023)
• Focus on achieving long-term leverage target of 1.0x Net Debt/ EBITDA through free cash flow generation
06/30/23
($ in millions)
$1.8 Billion Borrowing base with a $0.0 balance
on the revolver(1)
$705.1
$500
$500
2023
2024
2025
2026
2027
2028
2029
2030
2031
Pro Forma Revolver Capacity (1) Senior Notes
New Senior Notes
1) Revolver capacity as of 6/30/2023, proforma for August 2023 borrowing base.
Investor Presentation September 2023 | 25 NOGView entire presentation