Investor Presentaiton
Forge Closed - High Quality Acreage in the Permian Basin
DELAWARE ASSET LOCATOR MAP
LEA
DDY
KEY STATISTICS
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Purchased 30.0% undivided interest in Forge assets for $167.9 million
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Acreage: 10,200 net acres primarily located in Ward and Reeves Counties, TX
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PDP Wells (Net): 30.5
GAINES
DAWSON BORDEN
ANDREWS
MARTIN HOWARD
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.
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LOVING
WINKLER
ECTOR MIDLAND GLASSCOCK
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REEVES
Future Locations (Net): 2.3 wells-in-process and ~20 high-value net undeveloped locations
Closed on June 30, 2023
Expected to contribute incremental average production of ~3,750 Boe per day post-closing for
the remainder of 2023
OPERATOR
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NOG co-purchased the Forge assets with Vital Energy. Vital, with a 70% interest in the Forge
assets, will serve as operator on substantially all the properties
NOG & Vital enhanced joint operating agreement to provide enhanced line-of-sight to
development
FINANCIAL HIGHLIGHTS
CRANE
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Expected to be accretive to key financial metrics
UPTO
EAGAN
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Strong free cash flow profile
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Lower unit costs and higher oil cuts than NOG corporate average
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Executed hedges for a significant portion of the production
PECOS
NOG
Forge Leasehold
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Horizontal Producers 2021-2023
2023 capital expenditures of $17M expected post-closing
Investor Presentation September 2023 | 15 NOGView entire presentation