Watch List: NOG

[dan_s]

We are working on a Company Profile and forecast model for NOG. We should have it posted to website this weekend. Check the "Watch List" Tab for companies we have our eye on for inclusion in next year's Sweet 16. Available to our Premium Members only. - Dan

WAYZATA, Minn., Nov. 8, 2010 /PRNewswire-FirstCall/ -- Northern Oil and Gas, Inc. (NYSE/Amex: NOG) ("Northern Oil") today announced record quarterly production volumes, as well as record quarterly revenues and operating income, excluding the impact of unrealized hedging losses.

THIRD QUARTER 2010 RESULTS

Northern Oil's production volumes for the third quarter of 2010 were a quarterly record of 250,129 barrels of oil equivalent ("BOE"), representing a 45% increase compared to the second quarter of 2010 and a 182% increase compared to the third quarter of 2009. These results exceeded previous guidance of a 30% to 35% quarter-over-quarter production increase and represents Northern Oil's eleventh consecutive quarterly increase in production.

Third quarter 2010 production consisted of 96% crude oil and approximately 4% associated natural gas. Northern Oil exited the third quarter of 2010 with production volumes of approximately 3,406 BOE per day. During the third quarter of 2010, production was added from approximately 5.75 net wells. Northern Oil has maintained a 100% drilling success rate in the Williston Basin Bakken and Three Forks trends since the company's inception.