(RTTNews) - Northern Oil and Gas Inc. (NOG: News ) reported that its first-quarter net income was $8.8 million in the first quarter of 2012, compared to net loss of $7.1 million in the first quarter of 2011. Net income per share was $0.14, compared to a loss of $0.11 in the first quarter of 2011. Non-GAAP net income was $14.4 million or $0.23 per share, compared to $5.9 million or $0.09 per share for the first quarter of 2011. The company noted that the increase in non-GAAP net income is primarily due to continued addition of crude oil and natural gas production from new wells and higher realized commodity prices in 2012 compared to 2011. Oil and Gas Sales for the quarter increased to $65.14 million from $27.04 million in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.24 per share on revenues of $65.35 million for the quarter. Analysts' estimates typically exclude special items. Click here to receive FREE breaking news email alerts for NORTHERN OIL & GAS, INC. and others in your portfolio by RTT Staff Writer For comments and feedback: contact editorial@rttnews.com

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