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8/5/2021 Northern Oil and Gas , Inc. Announces Second Quarter 2021 Results and Updates Guidance NOG HIGHLIGHTS • Second quarter total production of 54,623 Boe per day , up 42 % sequentially from the first quarter of 2021 • Oil production of 33,346 Bbl per day , up 14 % sequentially from the first quarter of 2021 • Second quarter GAAP cash flow from operations of $ 106.2 million . Excluding changes in net working capital , cash flow from operations was $ 118.4 million , up 42 % from the first quarter of 2021 • Total capital expenditures of $ 68.4 million during the second quarter , excluding the closing of the Marcellus acquisition on April 1 , 2021 • Free Cash Flow ( non - GAAP ) of $ 46.2 million , post - preferred stock dividends . See " Non - GAAP Financial Measures " below • Completed a 5.75 million share common stock offering to fund the acquisition of over $ 100 million in core Permian Basin acquisitions that signed during the second quarter , the last and largest of which closed on August 2 , 2021 • The Board of Directors has declared Northern's second quarterly common stock dividend of $ 0.045 per share , a 50 % increase from the prior quarter , payable October 29 , 2021 to stockholders of record on September 30 , 2021 • Updated 2021 guidance includes increased annual production and reduced capital expenditures MINNEAPOLIS -- ( BUSINESS WIRE ) -- Northern Oil and Gas , Inc. ( NYSE American : NOG ) ( " Northern " ) today announced the company's second quarter results . MANAGEMENT COMMENTS " This was one of the strongest operational and financial quarters on record for the Company , " commented Nick O'Grady , Northern's Chief Executive Officer . " Year - to - date Northern has executed on several large bolt - on acquisitions and significantly improved its balance sheet . With the active management of our portfolio , we have driven substantial production and cash flow growth . Our focus on return on capital and high - quality operators and acreage is showing up directly on the bottom line . Our long term plan remains unchanged : building a diversified , low - leverage entity with the ability to deliver substantial cash returns . The opportunity set for value creation in front of us is stronger than ever . " SECOND QUARTER FINANCIAL RESULTS 1