Deleveraging StrategyAnalyst maintains a Buy rating, seeing NOG deleveraging through 2025 reaching 1.2x net debt to TTM EBTIDA, positioning the company as a liquidity provider for SMID cap E&Ps.
Mergers And AcquisitionsThe potential deal makes strategic sense for both companies, allowing GRNT to overcome its equity overhang while NOG continues to grow its free cash flow capacity.
Natural Gas ProductionNOG continues to benefit from its natural gas position with production coming in between 315 – 319 mmcfd, above consensus of 300 mmcfd.