Earnings summaries and quarterly performance for NORTHERN OIL & GAS.
Executive leadership at NORTHERN OIL & GAS.
Board of directors at NORTHERN OIL & GAS.
Research analysts who have asked questions during NORTHERN OIL & GAS earnings calls.
NH
Noah Hungness
Firm Not Mentioned in Transcript
4 questions for NOG
Also covers: CHRD, CNX, GPOR +9 more
CM
Charles Meade
Johnson Rice & Company L.L.C.
3 questions for NOG
Also covers: APA, BRY, COP +17 more
NP
Noel Parks
Tuohy Brothers
3 questions for NOG
Also covers: BE, BEEM, BLNK +19 more
PD
Paul Diamond
Citigroup
3 questions for NOG
Also covers: AR, CHRD, CRK +9 more
PJ
Phillips Johnston
Capital One Securities, Inc.
3 questions for NOG
Also covers: CHRD, COP, CRC +8 more
Scott Hanold
RBC Capital Markets
3 questions for NOG
Also covers: APA, CHRD, CIVI +13 more
John Freeman
Raymond James Financial
2 questions for NOG
Also covers: APA, AR, CRGY +9 more
ND
Neal Dingmann
Truist Securities
2 questions for NOG
Also covers: APA, CHRD, CIVI +33 more
Recent press releases and 8-K filings for NOG.
NOG Provides Post-Transaction Hedge Profile Update
NOG
Guidance Update
New Projects/Investments
M&A
- Northern Oil and Gas (NOG) provided an update on its hedge profile following its recently announced Ohio Utica joint acquisition.
- As of December 17, 2025, NOG has over 35,400 Bbl per day of oil hedged with a swap price exceeding $68.70 and a weighted average collar floor of $63.84.
- For 2026, NOG has approximately 267,500 MMBtu per day of natural gas hedged, representing about 60% of Q3 2025 annualized natural gas production pro forma for the Utica transaction.
- For 2027, the company has an average of 124,315 MMBtu per day of natural gas hedges in place, representing about 30% of Q3 2025 annualized natural gas production pro forma for the Utica transaction.
Dec 17, 2025, 12:00 PM
Northern Oil and Gas Announces Acquisition of Ohio Utica Shale Assets
NOG
M&A
New Projects/Investments
- Northern Oil and Gas, Inc. (NOG) and Infinity Natural Resources, Inc. have jointly agreed to acquire upstream and midstream assets in Ohio for a combined $1.2 billion, with NOG acquiring 49% for $588 million.
- The acquisition, which has an effective date of July 1, 2025, is expected to close in early 2026.
- NOG's interest includes approximately 35,000 net acres with exposure to dry gas, rich gas, and condensate production, along with over 100 gross identified undeveloped locations.
- NOG expects 2026 production net to them of approximately 65 million cubic feet equivalent per day, with volumes anticipated to more than triple by decade’s end.
Dec 8, 2025, 12:14 PM
Northern Oil and Gas Announces Joint Acquisition of Ohio Utica Assets
NOG
M&A
New Projects/Investments
- Northern Oil and Gas, Inc. (NOG) is partnering with Infinity Natural Resources to acquire the Ohio Utica assets from Antero Resources and Antero Midstream for a combined unadjusted purchase price of $1.2 billion.
- NOG's non-operated interest will represent a 49% undivided ownership in the Utica Assets for $588 million in cash. Of this, 67% is allocated to upstream assets and 33% to midstream assets.
- The acquired assets are estimated to produce ~65 MMcfe per day (92% gas) net to NOG in 2026, with an anticipated 30%+ compound annual growth rate through the end of the decade. They are expected to generate $100 million in cash flow from operations net to NOG in 2026, with ~19% generated by midstream assets.
- The transaction has an effective date of July 1, 2025, and is expected to close by the end of the first quarter of 2026. NOG plans to fund its share using cash flow from operations, cash on hand, and borrowings under its Reserves Based Lending Facility.
Dec 8, 2025, 12:06 PM
NOG Announces Ohio Utica Joint Acquisition
NOG
M&A
New Projects/Investments
- NOG has agreed to acquire a 49% interest in a high-quality Ohio Utica Upstream and Midstream asset for $588 million.
- The transaction, with an effective date of July 1, 2025, is anticipated to close by the end of Q1 2026.
- The acquired asset is expected to contribute approximately 65 MMcfe per day of net production to NOG in 2026, with an anticipated 5-year production CAGR of over 30%.
- NOG projects approximately $100 million in cash flow from operations for CY2026 net to NOG from this asset.
Dec 8, 2025, 12:00 AM
NOG Announces Ohio-Utica Joint Acquisition
NOG
M&A
New Projects/Investments
- Northern Oil and Gas (NOG) announced a joint acquisition with Infinity Natural Resources for $1.2 billion, with NOG's interest being 49% or $588 million. This transaction is NOG's largest in company history.
- The acquired Ohio-Utica assets include 35,000 net acres for NOG, over 100 gross identified undeveloped locations, and an expected 65 million cubic feet per day equivalent of first-year production.
- The asset is characterized by a low decline rate, is rich in liquids, and is projected to grow at a 30-plus% CAGR well past the end of the decade, with an estimated break-even price below $2 per MMBTU.
- The acquisition also includes an integrated midstream system with over 140 miles of gathering pipelines and 600 million cubic feet per day throughput capacity, which is expected to reduce near-term capital needs, improve control, and lower break-even costs by $0.70-plus per MCF.
- This transaction significantly strengthens NOG's Appalachian portfolio, increasing its net acreage in the region to over 90,000 acres, representing a 60% increase.
Dec 8, 2025, 12:00 AM
Northern Oil and Gas, Inc. enters into new Revolving Credit Facility
NOG
Debt Issuance
New Projects/Investments
- On November 5, 2025, Northern Oil and Gas, Inc. (NOG) entered into a Fourth Amended and Restated Credit Agreement, establishing a new Revolving Credit Facility.
- This new facility replaces the company's prior revolving credit facility and has a maturity date of November 5, 2030.
- The initial elected commitment amount under the Revolving Credit Facility is $1.6 billion, with an initial Borrowing Base of $1.8 billion.
- The facility includes financial covenants requiring a ratio of total net debt to EBITDAX of no more than 3.50 to 1.00 and a current ratio of not less than 1.00 to 1.00.
Nov 10, 2025, 9:28 PM
NOG Reports Q3 2025 Financial and Operational Results, Updates 2025 Guidance
NOG
Earnings
Guidance Update
M&A
- NOG reported Q3 2025 Adjusted EBITDA of $387.1 million, a 12% decrease quarter-over-quarter, and Free Cash Flow of $118.9 million.
- Average daily production reached 131.1 Mboe/d, representing an 8% increase year-over-year but a 2% decrease quarter-over-quarter.
- The company updated its 2025 annual production guidance to 132,500 – 134,000 Boe/day and narrowed its total budgeted capital expenditures to $950 - $1,025 million.
- NOG completed a $98.3 million acquisition of royalty and mineral interests in Utah and closed $59.8 million in Ground Game deals during the quarter.
Nov 7, 2025, 2:00 PM
NOG Announces Third Quarter 2025 Results and Updated Guidance
NOG
Earnings
Guidance Update
Debt Issuance
- Northern Oil and Gas, Inc. reported a GAAP net loss of $129.1 million for Q3 2025, primarily due to a $318.7 million non-cash impairment charge, while achieving Adjusted EBITDA of $387.1 million and $118.9 million in Free Cash Flow.
- Total quarterly production for Q3 2025 was 131,054 Boe per day (55% oil), an 8% increase from the third quarter of 2024, with oil volumes at 72,348 Bbl per day.
- The company raised its 2025 annual production guidance to a range of 132,500 - 134,000 Boepd and tightened capital expenditure guidance to $950 - $1,025 million.
- NOG issued $725.0 million of 7.875% Senior Notes due 2033 and repurchased $684.9 million of 8.125% Senior Notes due 2028, extending its weighted average debt maturity, and amended its Revolving Credit Facility on November 5, 2025, to extend maturity to 2030 and lower borrowing costs.
Nov 6, 2025, 9:11 PM
Northern Oil and Gas Announces Third Quarter 2025 Results
NOG
Earnings
Guidance Update
Debt Issuance
- Northern Oil and Gas (NOG) reported a GAAP net loss of $129.1 million for the third quarter of 2025, primarily driven by a $318.7 million non-cash impairment charge, while Adjusted EBITDA was $387.1 million.
- Total quarterly production increased 8% from Q3 2024 to 131,054 Boe per day (55% oil), and the company raised its 2025 annual production guidance to 132,500 - 134,000 Boepd.
- NOG generated $118.9 million in Free Cash Flow and tightened its 2025 capital expenditure guidance to a range of $950 - $1,025 million.
- The company issued $725.0 million of 7.875% Senior Notes due 2033 to repurchase $684.9 million of 8.125% Senior Notes due 2028, and amended its Revolving Credit Facility to extend its maturity to 2030.
- A cash dividend of $0.45 per share was declared in November 2025, payable January 30, 2025.
Nov 6, 2025, 9:05 PM
Northern Oil and Gas Provides Q3 2025 Update with Increased Production Guidance and Acquisitions
NOG
Guidance Update
M&A
New Projects/Investments
- Northern Oil and Gas (NOG) completed a $98.3 million Uinta Basin royalty and mineral acquisition in August 2025, expected to be accretive to key financial metrics.
- The company also deployed $59.8 million in ground game acquisitions during Q3 2025, adding approximately 2,500 net acres and 5.8 net wells across its basins.
- NOG is increasing its 2025 annual production guidance to 75,000 – 76,500 Bopd for oil and 132,500 – 134,000 Boepd for total volumes, driven by better than expected well performance.
- The company is tightening its annual capital expenditure guidance range to $950 – $1,025 million and expects Q3 2025 total capital expenditures to be approximately $272 million.
- NOG expects to record a non-cash impairment charge of $310 to $330 million in Q3 2025 due to lower recent average oil prices, which will not impact cash flows.
Oct 21, 2025, 8:20 PM
Quarterly earnings call transcripts for NORTHERN OIL & GAS.
Ask Fintool AI Agent
Get instant answers from SEC filings, earnings calls & more