Investor Presentaiton
Hedge Profile-COLLARS and PUTS
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 COLLARS & PUTS
Contract
Period
Total Ceiling Total Floor
Barrels
Barrels
Barrels per
Day Ceiling
Barrels per
Day Floor
Ceiling
(BBL)
(BBL)
(BBL/d)
(BBL/d)
($/BBL)
Weighted
Average Price Average Price
Floor
($/BBL)
Weighted
Contract
Period
Total Ceiling
Million British
Thermal Units
NATURAL GAS DERIVATIVE COLLARS & PUTS
Total Floor Million
British Thermal
Million British
Million British
Weighted
Weighted
Thermal Units per Thermal Units per Average Price Average Price
Units
Day Ceiling
Day Floor
Ceiling
Floor
(mmBTU)
(mmBTU)
(mmBTU/d)
(mmBTU/d)
($/mmBTU)
($/mmBTU)
2023
Q4
Avg./Total
2,291,252
2,291,252
1,991,676
24,905
21,649
$86.02
$72.74
Q4
6,052,500
6,052,500
65,788
65,788
$6.470
$3.909
1,991,676
24,905
21,649
$86.02
$72.74
Avg./Total
6,052,500
6,052,500
65,788
65,788
$6.470
$3.909
2024
Q1
2,332,147 1,680,928
25,628
18,472
$84.55
$70.20
Q1
4,725,000
4,725,000
51,923
51,923
$5.214
$3.294
Q2
2,242,137 1,600,017
24,639
17,583
$84.24
$69.50
Q2
5,062,500
5,062,500
55,632
55,632
$4.495
$3.053
Q3
1,104,056 952,256
12,001
10,351
$80.77
$69.02
Q3
5,520,000
5,520,000
60,000
60,000
$4.743
$3.063
Q4
1,045,749 871,800
11,367
9,476
$81.73
$69.10
Q4
6,336,586
6,336,586
68,876
68,876
$5.146
$3.103
Avg./Total
6,724,089
5,105,001
18,372
13,948
$83.26
$69.57
Avg./Total
21,644,086
21,644,086
59,137
59,137
$4.906
$3.122
2025
Q1
413,286
314,849
4,592
3,498
$79.20
$67.84
Q2
273,171
199,233
3,002
2,189
$75.49
$67.63
Q3
234,994
161,970
2,554
1,761
$75.76
$67.88
Q4
208,511
135,487
2,266
1,473
$76.87
$67.63
0000
Q1
7,416,417
7,416,417
82,405
82,405
$5.543
$3.158
Q2
6,931,297
6,931,297
76,168
76,168
$5.218
$3.159
Q3
6,567,569
6,567,569
71,387
71,387
$5.284
$3.161
Q4
5,778,723
5,778,723
62,812
62,812
$5.437
$3.152
Avg./Total
1,129,962
811,539
3,096
2,223
$77.22
$67.76
Avg./Total
26,694,006
26,694,006
73,134
73,134
$5.372
$3.158
2026
Q1
43,226
39,289
480
437
$70.25
$62.50
Q1
4,048,249
4,048,249
44,981
44,981
$5.657
$3.133
Q2
43,707
39,727
480
437
$70.25
$62.50
Q2
4,184,706
4,184,706
45,986
45,986
$5.657
$3.133
Q3
44,187
40,163
480
437
$70.25
$62.50
Q3
4,184,706
4,184,706
45,486
45,486
$5.657
$3.133
Q4
44,187
40,163
480
437
$70.25
$62.50
Q4
2,774,642
2,774,642
30,159
30,159
$5.657
$3.133
Avg./Total
175,307
159,342
480
437
$70.25
$62.50
Avg./Total
15,192,303
15,192,303
41,623
41,623
$5.657
$3.133
1)
Hedges are as of November 20, 2023. This table does not include volumes subject to swaptions and call options, which could increase the amounts of
volumes hedged at the option 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 year ended September 30, 2023.
Investor Presentation November 2023 | 40 NOGView entire presentation