Northern Oil & Gas $(NOG)$ reported Q4 2025 oil and natural gas sales of USD 447.7 million (-17%) and a GAAP net loss of USD 70.7 million (USD 0.73 per diluted share), including a non-cash impairment charge of USD 268.5 million under its full cost ceiling test. Q4 2025 Adjusted Net Income was USD 82.0 million (USD 0.83 per adjusted diluted share) and Adjusted EBITDA was USD 366.5 million. Production in Q4 2025 was 140,064 Boe/d (+6%) with 53% oil, and record natural gas production of 392,163 Mcf/d (+24%); capital expenditures (excluding previously announced non-budgeted acquisitions and other items) were USD 270.2 million and Free Cash Flow (non-GAAP) was USD 43.2 million. For FY 2025, NOG reported oil and natural gas sales of USD 2.1 billion, GAAP net income of USD 38.8 million (USD 0.39 per diluted share), Adjusted Net Income of USD 453.4 million (USD 4.57 per adjusted diluted share), and Adjusted EBITDA of USD 1.6 billion (+1%). FY 2025 production averaged 135,045 Boe/d (+9%). NOG declared a USD 0.45 per share common dividend for Q1 2026 and repurchased 326,301 shares in Q4 2025 at an average price of USD 21.47 per share. Subsequent to quarter-end, NOG closed its Joint Utica Acquisition in February 2026 with a cash closing payment of USD 464.6 million for a 40% stake (Infinity Natural Resources acquired 60%), expanded its revolving credit facility borrowing base to USD 1.975 billion and elected commitments to USD 1.8 billion, and notified holders it will redeem all remaining USD 20.2 million of Senior Notes due 2028 on March 4, 2026 at 100%. NOG also issued 2026 guidance with annual production of 139,000–143,000 Boe/d (low activity) or 144,000–148,000 Boe/d (high activity) and total capital expenditures of USD 850–900 million or USD 1.0–1.1 billion, respectively.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Northern Oil & Gas Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104485-26-000005), on February 25, 2026, and is solely responsible for the information contained therein.
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