Quarterly ResultApr 28, 2026, 04:33 PM
NOG Q1 Production +10%; GAAP Net Loss $522.8M; Adjusted EBITDA $342.5M
AI Summary
Northern Oil & Gas, Inc. reported a 10% increase in Q1 2026 total production to 148,303 Boe per day, with natural gas production up 33%. The company posted a GAAP net loss of $522.8 million, primarily due to non-cash derivative losses and an impairment charge, but achieved Adjusted EBITDA of $342.5 million and Adjusted Net Income of $74.7 million. NOG also completed the Ohio Utica acquisition for $464.6 million and a common stock offering raising $227.9 million.
Key Highlights
- Total Q1 production increased 10% YoY to 148,303 Boe per day.
- Record natural gas production rose 33% YoY to 448,444 Mcf per day.
- Reported GAAP net loss of $522.8 million, including $521.4M non-cash derivative loss.
- Achieved Adjusted EBITDA of $342.5 million, a 21% decrease YoY.
- Generated $30.4 million in Free Cash Flow.
- Closed Ohio Utica acquisition for $464.6 million in February 2026.
- Completed common stock offering, raising $227.9 million in net proceeds.
- Declared a cash dividend of $0.45 per share.