Investor Presentaiton
Hedge Profile-SWAPS
NOG continues to execute a strategy built around the safeguard of returns during a commodity down-cycle, while retaining
flexibility to capture the opportunistic upside
CRUDE OIL DERIVATIVE SWAPS
NATURAL GAS DERIVATIVE SWAPS
Contract
Barrels per Day
Period
(BBL/d)
Total Hedged
Volumes (BBL)
Weighted Average
Price ($/BBL)
Contract Million British Thernal Units per
Period
Day (mmBTU/d)
Total Hedged
Volumes (mmBTU)
Weighted Average
Price ($/mmBTU)
2023
Q3
20,870
1,920,013
$76.73
Q3
105,678
9,722,370
$3.861
Q4
20,224
1,860,576
$75.67
Q4
105,619
9,716,958
$3.815
Avg./Total
20,547
3,780,589
$76.21
Avg./Total
105,649
19,439,328
$3.838
2024
Q1
10,497
955,203
$76.02
Q1
103,974
9,461,616
$3.614
Q2
10,583
963,017
$75.10
Q2
104,350
9,495,805
$3.485
Q3
11,451
1,053,456
$73.60
Q3
103,048
9,480,457
$3.486
Q4
7,299
671,469
$70.42
Q4
68,945
6,342,909
$3.479
Avg./Total
9,954
3,643,145
$74.05
Avg./Total
95,029
34,780,787
$3.519
2025
Q1
1,308
117,749
$67.92
Q1
11,500
1,035,000
$3.791
Q2
1,089
99,133
$68.01
Q2
5,055
460,000
$4.000
Q3
1,004
92,394
$67.94
Q3
5,000
460,000
$4.000
Q4
966
88,911
$67.81
Q4
3,315
305,000
$4.000
Avg./Total
1,091
398,187
$67.92
Avg./Total
6,192
2,260,000
$3.904
2026
Q1
430
38,726
$63.25
Q1
0
0
Q2
430
39,157
$62.74
Q2
0
0
Q3
430
39,587
$62.28
Q3
0
0
Q4
430
39,587
$61.70
Q4
0
0
Avg./Total
430
157,057
$62.49
Avg./Total
0
0
Hedges as of July 31, 2023. This table does not include volumes subject to swaptions, basis swaps, puts, and call options, which could increase the amounts of volumes hedged at the option Investor Presentation September 2023 | 42 NOG
1)
of NOG's counterparties.
For additional information, see Note 11 to our financial statements included in our Form 10-Q filed with the SEC for the period ended June 30, 2023.View entire presentation