Investor Presentation June 2023
NON-GAAP Reconciliations: ROCE & Recycle Ratio
Q1-23 Return on Capital Employed (ROCE)
EBIT(1)
Capital
Employed
=
42.0%
EBIT(1): $923.4MM (Q1 23 annualized)
• + Adj. EBITDA(1): $325.5MM
•
- DD&A: $94.6MM
Capital Employed: $2,198.3MM (Avg. of Q1 22/23)
• + Total Assets: $2,683.7MM (Avg. of Q1 22/23)
• - Current Liabilities: $485.4MM (Avg. of Q1 22/23)
Q1-23 Adjusted Return on Capital Employed (ROCE) - Excludes impairment charges post Q2 20
EBIT(1)
Capital
Employed
=
27.5%
•
EBIT(1): $848.3MM (Q1 23 annualized)
•
•
+ Adj. EBITDA(1): $325.5MM
- DD&A: $113.4MM
Capital Employed: $3,080.6MM (Avg. of Q1 22/23)
• + Total Assets: $3,565.8MM (Avg. of Q1 22/23)
⚫ - Current Liabilities: $485.2MM (Avg. of Q1 22/23)
Q1-23 Recycle Ratio
Cash
Margin
Note: Numbers may be off due to rounding.
DD&A
||
3.4x
•
Cash Margin: $40.63/Boe
• + Realized avg. commodity price: $55.94/Boe
⚫ - Cash Costs: $15.31/Boe (2)
DD&A Rate: $12.03/Boe
1)
Adjusted EBIT and Adjusted EBITDA are non-GAAP measures. See reconciliation on prior slides.
Investor Presentation June 2023 | 33 NOG
2)
Incorporates Adjusted Cash G&A of $0.94/Boe, which excludes certain acquisition related expenses. Adjusted Cash G&A is a non-GAAP financial measure. See reconciliation on prior slides.View entire presentation