Lower 48 independent Northern Oil and Gas Inc. has raised its production guidance for 2021 as it expects remaining curtailments to ease amid stronger commodity prices.

Northern Oil and Gas

The company expects to produce 37,750-42,750 boe/d on its properties in the Permian and Williston basins in 2021, with oil making up 78-80% of the mix. 

By comparison, the Minnetonka, MN-based company said Friday it pumped 33,078 boe/d on the assets in 2020. Output was already ticking up in the second quarter, as the company produced 35,738 boe/d, a 23% increase over the previous three months, with oil making up 76% of the mix.

A raft of U.S. oil producers was compelled last summer to curtail production in an effort to stabilize prices as the Covid-19 pandemic weakened global demand.

However, the last of...