NORTHERN OIL AND GAS INC (NOG)
Energy · Independent Oil and Gas Exploration and Production · NYSE
A diversified, non-operated oil and gas producer participating in thousands of wells across premier US shale basins, pursuing value through minority working interests and strategic acquisitions.
What NORTHERN OIL AND GAS INC does
Northern Oil and Gas is an independent energy company engaged in the acquisition, exploration, development, and production of oil and natural gas properties in the United States as a non-operator. The company holds diversified, non-operated minority working and mineral interests primarily across the Williston Basin, Permian Basin, Appalachian Basin, and Uinta Basin. As of December 31, 2025, the company had 11,702 gross producing wells with over 100 operating partners, producing approximately 140,064 Boe per day.
Themes: ["Oil and gas exploration and production","Non-operated upstream energy","Multi-basin diversification strategy","Unconventional shale plays","Strategic acquisitions in energy"]
Fundamentals
- Price$18.79 as of 2026-07-09 close
- Market cap$2.1B as of 2026-07-10
- 1-year return-38.8% as of 2026-07-09 close
- P/E52.97 as of 2026-07-10
- Net margin-33.2% as of 2026-07-10
- Gross margin+66.8% as of 2026-07-10
- ROE-29.1% as of 2026-07-10
- Debt / equity1.43 as of 2026-07-10
- Revenue growth (YoY)-22.7% as of 2026-07-10
- Revenue CAGR (3y)+16.4% SEC XBRL
- Beta0.77 as of 2026-07-10
Dividend: yield +9.6%; pays a dividend.
Key risks (from latest filing)
["Significant exposure to commodity price volatility for oil and natural gas, which directly impacts revenues and profitability (company is currently unprofitable with -33.17% net margin)","Heavy reliance on numerous operating partners (100+) with no single operator representing more than 11% of production; operational risks are dependent on partners' execution and financial stability","Asset impairment risk demonstrated by $268.3 million impairment charge in Q1 2026, indicating downward pressure on property valuations"]
Competitors & peers
- EOG Resources
- ConocoPhillips
- Pioneer Natural Resources
- Continental Resources
- Diamondback Energy
- Devon Energy
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.