**Northern Oil and Gas, Inc. Reports Fiscal Year 2025 Results**
Northern Oil and Gas, Inc. (NOG) has released its financial results for the fiscal year ended December 31, 2025, showcasing a year of growth and strategic development. The company reported total revenues of $2.48 billion, compared to $2.23 billion in the previous year. Net income attributable to common stockholders was $38.8 million, or $0.40 per basic share, a decrease from $520.3 million, or $5.21 per basic share, in 2024. The company's financial performance was significantly impacted by a non-cash full cost ceiling impairment charge of $702.7 million.
Operationally, NOG experienced a 9% increase in total production, averaging 135,045 barrels of oil equivalent (Boe) per day, compared to 124,423 Boe per day in 2024. This growth was primarily driven by strategic acquisitions and successful drilling activities. The company's proved reserves at year-end totaled 384.1 million Boe, a 1% increase from the previous year. NOG continued its strategy of diversifying its risk through non-operated participation in a large number of wells across multiple basins, with 1,195 net producing wells as of December 31, 2025.
Throughout 2025, NOG focused on enhancing shareholder value through both cash dividends and security repurchases. The company returned approximately $230.4 million to stockholders, including $173.4 million in common stock dividend payments and $57.0 million in repurchases of common stock. The company also extended the weighted average maturity on its outstanding indebtedness to 5.4 years, compared to 3.9 years at the end of 2024.
Looking ahead, NOG anticipates capital expenditures between $0.9 billion and $1.1 billion for 2026, which includes development expenditures and smaller "ground game" acquisition activity. The company plans to fund these expenditures through cash generated from operations and available borrowing capacity under its Revolving Credit Facility. NOG's strategy remains focused on growing reserves, production, and free cash flow while maintaining a strong balance sheet. However, the company acknowledges the inherent risks and uncertainties in the oil and gas industry, including commodity price volatility, operational challenges, and regulatory changes, which could impact future performance.
About NORTHERN OIL & GAS, INC.
Northern Oil and Gas, Inc. is an independent energy company specializing in the acquisition, exploration, and production of oil and natural gas in the U.S. It primarily invests as a non-operator in multiple basins, focusing on diversified, low-leverage growth through strategic acquisitions and partnerships. The company emphasizes risk diversification, active hedging, and maintaining a strong financial position within the competitive and heavily regulated oil and gas industry.
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