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11/5/2021 Northern Oil and Gas , Inc. Announces Third Quarter 2021 Results and Updates Guidance NOG HIGHLIGHTS • Third quarter total production of 57,647 Boe per day , up 98 % from the third quarter of 2020 • Oil production of 34,035 Bbl per day , up 52 % from the third quarter of 2020 • Third quarter GAAP cash flow from operations of $ 94.4 million . Excluding changes in net working capital , cash flow from operations was $ 122.3 million , up 253 % from the third quarter of 2020 • Total capital expenditures of $ 63.2 million during the third quarter , excluding the closing of our previously- announced Permian acquisition on August 2 , 2021 • Free Cash Flow ( non - GAAP ) of $ 55.4 million , post - preferred stock dividends . See " Non - GAAP Financial Measures " below • Announced $ 154.0 million Williston Basin acquisition in October ; closed on the acquisition of Permian Basin properties on August 2 , 2021 • Updated 2021 guidance includes increased annual production , reduced unit costs , reduced capital expenditures and improved pricing differentials MINNEAPOLIS -- ( BUSINESS WIRE ) -- Northern Oil and Gas , Inc. ( NYSE American : NOG ) ( " Northern " ) today announced the company's third quarter results and provided updated 2021 guidance . MANAGEMENT COMMENTS " The third quarter again demonstrated Northern's stellar business execution , " commented Nick O'Grady , Northern's Chief Executive Officer . " We delivered record free cash flow yet again and closed a significant Permian acquisition in the third quarter . In October , we announced the signing of another meaningfully accretive transaction , as we relentlessly seek to increase shareholder value . We see significant additional opportunities to further benefit shareholders and remain dedicated to building a diversified , low - leverage entity , with steadily increasing cash returns . " THIRD QUARTER FINANCIAL RESULTS Oil and natural gas sales for the third quarter were $ 259.7 million , up 15 % over the second quarter . Third quarter GAAP net income , inclusive of a $ 71.8 million non - cash net mark - to - market loss on derivatives , was $ 12.6 million or $ 0.19 per diluted share . Third quarter Adjusted Net Income was $ 64.1 million or $ 0.84 per diluted share , which was 1