Northern Oil And Gas (NOG)
NYSE:NOG
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Earnings Data
Report Date
Jul 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.92Last Year’s EPS
1.37Same Quarter Last Year
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized operational momentum — record quarterly production (+6% sequential), a record ground game (41 deals, >5,100 acres), a strengthened balance sheet (>$1.2B liquidity, $230M equity raise), and an improved M&A/backlog pipeline (> $10B reviewed). These positive signals were offset by large noncash accounting hits (≈$521M MTM loss on derivatives and a $268M impairment), continued weak gas realizations (≈72% of benchmark) driven by Permian takeaway constraints, and guidance uncertainty due to geopolitical volatility. On balance, management portrayed durable financial insulation from hedges, ongoing organic growth initiatives, and selective M&A optionality, while acknowledging headline negatives that are largely noncash or expected to be transitory if strips hold.Company Guidance
Record Quarterly Production
Total average daily production exceeded 148,000 BOE/d, a company record and up ~6% sequentially. Oil-to-gas mix was ~50/50, with Appalachia and Williston delivering particularly strong performance.
Ground Game and Leasing Momentum
Q1 set a new quarterly record with 41 transactions, adding >5,100 net acres and 6 net wells. Management also noted adding over 70 net locations in the last year through leasing, enhancing inventory and optionality.
Strong Organic and Balanced CapEx Deployment
Quarterly CapEx (ex non-budgeted acquisitions) was $270 million, with ~$227 million to organic development. Spend split was balanced across basins: 31% Permian, 27% Appalachia, 24% Williston, 17% Uinta.
Improved M&A Pipeline and Backlog Quality
Management is evaluating >$10 billion of assets across 8 large transactions and reported that the backlog has improved in both size and quality, with higher-quality oil assets coming to market.
Financial Resilience — Liquidity & Capital Markets Activity
Liquidity of >$1.2 billion available with an additional $175 million untapped; completed a nearly $230 million equity offering late in Q1, enhancing balance sheet flexibility and runway.
Outperformance vs Internal Estimates
Despite macro volatility, NOG outperformed internal estimates on production and EBITDA for the quarter, and emphasized hefty free cash flow generation even while adding inventory.
Hedge Program Provides Financial Insulation
While spot gas differentials are weak, management noted material protection from basis hedges: Permian gas realizations inclusive of Waha basis hedges were $1.86/Mcf (53%) versus a negative ~-$0.02/Mcf (-1%) included in corporate spot realizations, insulating cash flow for the rest of the year.
Operational Inventory and Activity Visibility
Ended quarter with 43.7 net wells in process and 9.2 net AFEs. Well proposal consents remained steady at 216 (within the 200–230 range seen in 2025), and management expects to narrow 2026 guidance ranges by Q2.
NOG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NOG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 28, 2026 | $27.56 | $27.95 | +1.42% |
Feb 25, 2026 | $26.09 | $25.87 | -0.87% |
Nov 06, 2025 | $19.77 | $20.86 | +5.51% |
Jul 31, 2025 | $26.74 | $23.76 | -11.12% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Northern Oil And Gas (NOG) report earnings?
Northern Oil And Gas (NOG) is schdueled to report earning on Jul 30, 2026, Before Open (Confirmed).
What is Northern Oil And Gas (NOG) earnings time?
Northern Oil And Gas (NOG) earnings time is at Jul 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NOG EPS forecast?
NOG EPS forecast for the fiscal quarter 2026 (Q2) is 0.92.