Investor Presentaiton
Investment Activity Update
High quality bolt-on plays starting to emerge while capitalizing on larger ground game opportunities in the interim.
1)
Opportunity Set
M&A landscape still
variable but quality
opportunities emerging
NOG's capital and solutions
remain sought-after
Variety of structures (Non-
Op packages, Joint
Development, Co-Bids)
Wide range of partners
Identifying plays to benefit
NOG across a variety of
time frames
Ground Game
Evaluated over 400
ground game opportunities
YTD
Completed 8 ground game
deals in Q3, 31 deals YTD
Deals closed across
Permian and Williston
Added 5.7 Net Wells
and 514 Net Acres in Q31
Added 24.9 Net Wells and
1,823 Net Acres YTD1
Bolt-On
Closed Novo acquisition
Prospective 2023 bolt-on
opportunities have to clear
a high bar
Remaining disciplined on
return requirements
Reviewing non-operated
assets and operator
partnerships
Includes current and future well locations.
Investor Presentation November 2023 | 15 NOGView entire presentation