Northern Oil and Gas Inc (NOG) financial statements: income statement, balance sheet and cash flow
Northern Oil and Gas Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Northern Oil and Gas Inc reported revenue of $2.5B and net income of $38.8M.
Income statement
Northern Oil and Gas Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Oil and Gas Sales
$2.1B
—
$1.9B
—
Gain on Commodity Derivatives, Net
$380.7M
—
$259.3M
—
Total Revenues
$2.5B
—
$2.2B
—
Production Expenses
$473.7M
—
$347.0M
—
Production Taxes
$131.3M
—
$160.1M
—
General and Administrative Expenses
$61.3M
—
$46.8M
—
Depletion, Depreciation, Amortization and Accretion
$814.9M
—
$486.0M
—
Impairment of Oil and Gas Assets
$702.7M
—
—
—
Legal Settlement Expenses
$33.1M
—
—
—
Other Expenses
$12.8M
—
$4.4M
—
Total Operating Expenses
$2.2B
—
$1.0B
—
Income From Operations
$245.8M
—
$1.1B
—
Interest Expense
($172.4M)
—
—
—
Gain (Loss) on Unsettled Interest Rate Derivatives, Net
($566.0K)
—
($1.0M)
—
Gain (Loss) on the Extinguishment of Debt, Net
($10.8M)
—
$659.0K
—
Contingent Consideration Gain
$0
—
$10.1M
—
Other Income
$637.0K
—
$4.8M
—
Total Other Expense
($183.1M)
—
($121.1M)
—
Income Before Income Taxes
$62.7M
—
$1.0B
—
Income Tax Expense
$23.9M
—
$77.8M
—
Net Income Attributable to Common Stockholders
$38.8M
—
$923.0M
—
Net Income Per Common Share - Basic (in dollars per share)
$0.40
—
$10.09
—
Net Income Per Common Share – Diluted (in dollars per share)
$0.39
—
$10.03
—
Weighted Average Shares Outstanding - Basic (in shares)
97.7M
—
91.5M
—
Weighted Average Shares Outstanding - Diluted (in shares)
99.3M
—
92.1M
—
Northern Oil and Gas Inc income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Oil and Gas Sales
$675.1M
$544.1M
$485.9M
$578.0M
Gain (Loss) on Commodity Derivatives, Net
$70.2M
($539.1M)
$70.8M
$128.8M
Total Revenues
$745.2M
$5.0M
$556.6M
$706.8M
Production Expenses
$127.1M
$129.7M
$118.3M
$121.4M
Production Taxes
$45.7M
$38.3M
$28.7M
$35.6M
General and Administrative Expenses
$24.5M
$23.2M
$14.1M
$15.6M
Legal Settlement Expense
$0
—
$0
$33.1M
Depletion, Depreciation, Amortization and Accretion
$192.9M
$197.1M
$199.4M
$205.7M
Impairment of Oil and Gas Assets
$0
$268.3M
$318.7M
$115.6M
Other Expenses
$2.5M
$3.3M
$3.3M
$3.6M
Total Operating Expenses
$392.7M
$659.9M
$682.4M
$530.6M
Income (Loss) From Operations
$352.5M
($654.9M)
($125.8M)
$176.2M
Interest Expense, Net
($41.4M)
($42.6M)
($43.0M)
($44.4M)
Gain (Loss) on Unsettled Interest Rate Derivatives, Net
$1.5M
$1.6M
($131.0K)
$1.0K
Loss on Foreign Currency Transactions
($4.7M)
—
—
—
Loss on Extinguishment of Debt
$0
($14.0K)
—
—
Gain on Contingent Consideration
$2.7M
—
—
—
Total Other Expense, Net
($41.9M)
($41.0M)
($43.0M)
($44.4M)
Income (Loss) Before Income Taxes
$310.6M
($695.9M)
($168.8M)
$131.8M
Income Tax Expense (Benefit)
$74.0M
($173.1M)
($39.7M)
$32.2M
Net Income (Loss)
$236.6M
($522.8M)
($129.1M)
$99.6M
Net Income (Loss) Attributable to Common Stockholders
$236.6M
($522.8M)
($129.1M)
$99.6M
Net Income (Loss) Per Common Share – Basic (in dollars per share)
$2.24
-$5.31
-$1.33
$1.02
Net Income (Loss) Per Common Share – Diluted (in dollars per share)
$2.19
-$5.31
-$1.33
$1.00
Weighted Average Common Shares Outstanding – Basic (in shares)
105.9M
98.5M
97.1M
98.1M
Weighted Average Common Shares Outstanding – Diluted (in shares)
108.1M
98.5M
97.1M
99.4M
Balance sheet
Northern Oil and Gas Inc balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and Cash Equivalents
$14.3M
$8.9M
$8.2M
$2.5M
Accounts Receivable, Net
$349.9M
$389.7M
$370.5M
$271.3M
Advances to Operators
$30.0M
$12.3M
$49.2M
$9.0M
Prepaid Expenses and Other
$7.1M
$5.3M
$2.5M
$2.0M
Derivative Instruments
$166.7M
$46.5M
$75.7M
$35.3M
Income Tax Receivable
$18.1M
$38.0M
$3.2M
$338.0K
Total Current Assets
$586.0M
$500.7M
$509.4M
$320.5M
Proved
$11.4B
$10.3B
$8.4B
$6.5B
Unproved
$86.0M
$42.7M
$36.8M
$41.6M
Less – Accumulated Depletion and Impairment
($6.8B)
—
—
—
Total
$4.7B
—
—
—
Other Property and Equipment, Net
$3.2M
—
—
—
Total Property and Equipment, Net
$4.7B
$5.1B
$3.9B
$2.5B
Derivative Instruments
$3.0M
$9.8M
$10.7M
$12.5M
Other Noncurrent Assets
$73.9M
$11.1M
$15.5M
$16.2M
Total Assets
$5.4B
$5.6B
$4.5B
$2.9B
Accounts Payable
$218.6M
$202.9M
$192.7M
$128.6M
Accrued Liabilities
$293.8M
$290.8M
$147.9M
$121.7M
Accrued Interest
$23.0M
$26.0M
$26.2M
$24.3M
Derivative Instruments
$0
$19.9M
$16.8M
$58.4M
Other Current Liabilities
$3.9M
$4.7M
$2.1M
$1.8M
Total Current Liabilities
$539.3M
$544.3M
$385.8M
$345.0M
Long-term Debt, Net
$2.4B
$2.4B
$1.8B
$1.5B
Derivative Instruments
$48.1M
$93.6M
$105.8M
$225.9M
Deferred Tax Liability
$247.6M
$228.0M
$68.5M
—
Asset Retirement Obligations
$50.8M
$45.9M
$38.2M
$31.6M
Other Noncurrent Liabilities
$1.8M
$2.3M
$2.7M
$2.0M
Total Liabilities
$3.3B
$3.3B
$2.4B
$2.1B
Common Stock, par value $0.001; 270,000,000 authorized; 97,265,559 shares outstanding at 12/31/2025 270,000,000 authorized; 99,113,645 shares outstanding at 12/31/2024
499.0K
501.0K
503.0K
487.0K
Additional Paid-In Capital
$1.6B
$1.9B
$2.1B
$1.7B
Retained Earnings
$481.3M
$442.5M
($77.8M)
($1.0B)
Total Stockholders’ Equity
$2.1B
$2.3B
$2.0B
$745.3M
Total Liabilities and Stockholders’ Equity
$5.4B
$5.6B
$4.5B
$2.9B
Northern Oil and Gas Inc balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and Cash Equivalents
$47.6M
$37.0M
$31.6M
$25.9M
Accounts Receivable, Net
$377.8M
$395.3M
$334.0M
$410.2M
Advances, Prepaid Expenses, and Other
$28.0M
—
—
—
Derivative Instruments
$30.9M
$7.7M
$129.2M
$109.3M
Income Tax Receivable
$17.8M
$13.9M
$16.6M
$11.8M
Total Current Assets
$502.1M
$472.9M
$542.5M
$588.4M
Proved
$12.4B
$12.0B
$11.2B
$10.9B
Unproved
$301.8M
$244.3M
$74.7M
$35.3M
Less – Accumulated Depletion and Impairment
($7.4B)
($7.2B)
—
—
Total Oil and Natural Gas Properties, Net
$5.3B
$5.0B
—
—
Other Property and Equipment, Net
$2.4M
$2.8M
—
—
Total Property and Equipment, Net
$5.3B
$5.0B
$4.9B
$5.1B
Derivative Instruments
$9.7M
$4.7M
$1.0M
$1.3M
Deferred Income Taxes
$8.2M
—
—
—
Other Noncurrent Assets, Net
$14.7M
$15.6M
$11.4M
$19.7M
Total Assets
$5.8B
$5.5B
$5.5B
$5.7B
Accounts Payable
$206.3M
$234.9M
$160.3M
$173.9M
Accrued Liabilities and Other
$399.2M
$402.1M
$334.5M
$310.2M
Derivative Instruments
$25.0M
$262.4M
$578.0K
$4.1M
Total Current Liabilities
$630.5M
$899.4M
$495.3M
$488.2M
Long-term Debt, Net
$2.7B
$2.6B
$2.3B
$2.4B
Deferred Tax Liability
$158.3M
$76.4M
$263.2M
$298.7M
Derivative Instruments
$255.9M
$148.2M
$94.1M
$86.2M
Contingent Consideration
$6.6M
—
—
—
Asset Retirement Obligations
$54.9M
$53.3M
$49.4M
$48.4M
Other Noncurrent Liabilities
$1.5M
$1.6M
$1.9M
$2.0M
Total Liabilities
$3.8B
$3.7B
$3.2B
$3.3B
Common Stock, Par Value $0.001; 270,000,000 Shares Authorized; 106,549,128 Shares Outstanding at 6/30/2026 97,265,559 Shares Outstanding at 12/31/2025
509.0K
508.0K
500.0K
500.0K
Additional Paid-In Capital
$1.8B
$1.8B
$1.7B
$1.7B
Retained Earnings
$195.1M
($41.6M)
$552.0M
$681.1M
Accumulated Other Comprehensive Loss
($3.2M)
—
—
—
Total Stockholders’ Equity
$2.0B
$1.8B
$2.2B
$2.4B
Total Liabilities and Stockholders’ Equity
$5.8B
$5.5B
$5.5B
$5.7B
Cash flow statement
Northern Oil and Gas Inc cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net Income
$38.8M
$520.3M
$923.0M
$773.2M
Depletion, Depreciation, Amortization and Accretion
$814.9M
$740.9M
$486.0M
$251.3M
Impairment of Oil and Gas Assets
$702.7M
—
—
$0
Amortization of Debt Issuance Costs
$10.6M
$9.4M
$8.1M
$5.0M
Loss (Gain) on Extinguishment of Debt
$10.8M
$0
($659.0K)
($810.0K)
Amortization of Bond Premium on Long-term Debt
($2.2M)
($1.1M)
($1.5M)
($2.1M)
Deferred Income Taxes
$23.6M
$159.6M
$76.9M
($571.0K)
Unrealized (Gain) Loss on Derivative Instruments
($178.8M)
$21.0M
($200.3M)
($41.2M)
Gain on Contingent Consideration
$0
$0
($10.1M)
($1.9M)
Share-Based Compensation Expense
$15.4M
$12.0M
$5.7M
$5.7M
Other
($508.0K)
$558.0K
$2.4M
$2.0M
Accounts Receivable, Net
$39.7M
($17.4M)
($101.3M)
($74.9M)
Prepaid and Other Expenses
($1.6M)
($1.5M)
($474.0K)
($720.0K)
Accounts Payable and Accrued Liabilities
$14.9M
($4.4M)
($15.2M)
($338.0K)
Accrued Interest
($3.0M)
($227.0K)
$1.7M
$3.6M
Settlement Difference for Asset Retirement Obligations
$0
($3.8M)
—
—
Income Tax Receivable
$20.0M
($34.8M)
—
—
Net Cash Provided By Operating Activities
$1.5B
$1.4B
$1.2B
$928.4M
Acquisitions of and Capital Expenditures on Oil and Natural Gas Properties
($1.3B)
($1.7B)
($1.8B)
($1.4B)
Purchases of Other Property and Equipment
($759.0K)
($128.0K)
($1.2M)
($4.6M)
Net Cash Used For Investing Activities
($1.3B)
($1.7B)
($1.9B)
($1.4B)
Advances on Revolving Credit Facility
$388.0M
$984.0M
$998.2M
$1.3B
Repayments on Revolving Credit Facility
($600.0M)
($455.0M)
($1.2B)
($996.0M)
Purchase of Capped Call
($16.9M)
$0
$0
($36.1M)
Premium Received on Convertible Notes
$11.2M
—
—
—
Issuance of Convertible Notes
$200.0M
$0
$0
$483.0M
Issuance of Senior Notes due 2033
$725.0M
$0
$492.8M
$0
Repurchase of Senior Notes due 2028
($684.9M)
$0
($18.4M)
($24.9M)
Debt Issuance Costs Paid
($26.1M)
($1.9M)
($11.9M)
($7.4M)
Tender Premium Paid on Repurchase of Senior Notes due 2028
($10.3M)
—
—
—
Issuance of Common Stock
$0
$0
$514.7M
$0
Common Stock Dividends Paid
($173.4M)
($162.0M)
($123.9M)
($51.6M)
Repurchases of Common Stock
($57.0M)
($94.5M)
($8.0M)
($54.5M)
Excise Tax on Repurchases of Common Stock
($788.0K)
—
—
—
Restricted Stock Surrenders - Tax Obligations
($2.1M)
($3.8M)
($2.6M)
($2.2M)
Net Cash Provided By (Used In) Financing Activities
($247.5M)
$266.8M
$684.7M
$467.4M
Net Increase in Cash and Cash Equivalents
$5.4M
$738.0K
$5.7M
($7.0M)
Cash and Cash Equivalents – Beginning of Period
$8.9M
$8.2M
$2.5M
$9.5M
Cash and Cash Equivalents – End of Period
$14.3M
$8.9M
$8.2M
$2.5M
Northern Oil and Gas Inc cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net Income (Loss)
($286.2M)
($522.8M)
$109.5M
$238.6M
Depletion, Depreciation, Amortization, and Accretion
$390.0M
$197.1M
$610.8M
$411.4M
Amortization of Debt Issuance Costs
$5.1M
$2.5M
$8.0M
$5.0M
Loss on Extinguishment of Debt
$14.0K
$14.0K
—
—
Amortization of Bond Premium/Discount on Long-term Debt
($1.0M)
($520.0K)
($1.7M)
($676.0K)
Deferred Income Taxes
($97.5M)
($171.2M)
$39.2M
$74.7M
Unrealized Loss on Foreign Currency Transactions
$4.7M
—
—
—
Unrealized Loss (Gain) on Derivative Instruments
$361.9M
$519.9M
($92.7M)
($77.4M)
Gain on Contingent Consideration
($2.7M)
—
—
—
Stock-Based Compensation Expense
$8.1M
$3.7M
$11.4M
$7.4M
Impairment of Oil and Gas Assets
$268.3M
$268.3M
$434.3M
$115.6M
Other
$287.0K
$291.0K
($72.0K)
($48.0K)
Accounts Receivable, Net
($28.0M)
($45.4M)
$55.7M
($20.6M)
Prepaid and Other Expenses
$1.1M
($1.3M)
($1.3M)
($1.0M)
Income Tax Receivable
$267.0K
$4.2M
$21.4M
$26.2M
Accounts Payable, Accrued Liabilities, and Other
$21.0M
$68.9M
—
—
Acquisitions of and Capital Expenditures on Oil and Natural Gas Properties
($1.0B)
($634.6M)
($943.7M)
($591.3M)
Purchases of Other Property and Equipment
($55.0K)
($55.0K)
($719.0K)
($481.0K)
Net Cash Used for Investing Activities
($1.0B)
($634.7M)
($944.4M)
($591.8M)
Advances on Revolving Credit Facility
$784.0M
$480.0M
$288.0M
$173.0M
Repayments on Revolving Credit Facility
($437.0M)
($305.0M)
($519.0M)
($383.0M)
Repurchase of Senior Notes Due 2028
($20.2M)
($20.2M)
—
—
Entry into Additional Capped Call Transactions
$0
—
($16.9M)
($16.9M)
Issuance of Additional Convertible Notes
$0
—
$200.0M
$200.0M
Premium Received on Additional Convertible Notes
$0
—
$11.2M
$11.2M
Debt Issuance Costs Paid
($1.6M)
($1.6M)
($7.6M)
($7.6M)
Issuance of Common Stock
$227.9M
$227.9M
—
—
Repurchases of Common Stock
($50.0M)
$0
($50.0M)
($50.0M)
Common Stock Issuance Costs Paid
($384.0K)
($31.0K)
—
—
Restricted Stock Surrenders - Tax Obligations
($2.8M)
($2.8M)
($1.5M)
($1.5M)
Common Dividends Paid
($91.8M)
($44.5M)
($129.7M)
($86.0M)
Net Cash Provided by (Used for) Financing Activities
$408.0M
$333.8M
($225.6M)
($160.8M)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
($5.5M)
—
—
—
Net Increase (Decrease) in Cash and Cash Equivalents