2019 Q1 Form 10-Q Financial Statement
#000110448519000073 Filed on May 10, 2019
Income Statement
Concept | 2019 Q1 | 2018 Q4 | 2018 Q1 |
---|---|---|---|
Revenue | -$6.934M | $443.2M | $66.61M |
YoY Change | -110.41% | 1097.75% | 1.21% |
Cost Of Revenue | $24.67M | $35.12M | $12.49M |
YoY Change | 97.52% | 75.58% | -22.43% |
Gross Profit | -$31.60M | $408.1M | $54.13M |
YoY Change | -158.38% | 2300.47% | 8.9% |
Gross Profit Margin | 92.08% | 81.25% | |
Selling, General & Admin | $6.051M | $4.976M | $1.700M |
YoY Change | 255.94% | 60.51% | -52.78% |
% of Gross Profit | 1.22% | 3.14% | |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $45.13M | $48.29M | $18.60M |
YoY Change | 142.66% | 174.4% | 45.31% |
% of Gross Profit | 11.83% | 34.36% | |
Operating Expenses | $88.37M | $88.39M | $40.71M |
YoY Change | 117.09% | 117.37% | 24.98% |
Operating Profit | -$95.31M | $354.8M | $25.91M |
YoY Change | -467.9% | -9795.53% | -22.08% |
Interest Expense | $19.55M | -$34.60M | $23.11M |
YoY Change | -15.4% | 65.56% | 41.73% |
% of Operating Profit | -9.75% | 89.2% | |
Other Income/Expense, Net | -$11.86M | -$136.6M | -$22.94M |
YoY Change | -48.31% | 527.65% | 40.7% |
Pretax Income | -$107.2M | $218.2M | $2.965M |
YoY Change | -3714.23% | -959.2% | -82.5% |
Income Tax | $0.00 | -$55.00K | $0.00 |
% Of Pretax Income | -0.03% | 0.0% | |
Net Earnings | -$107.2M | $218.3M | $2.965M |
YoY Change | -3714.23% | -1015.32% | -82.5% |
Net Earnings / Revenue | 49.25% | 4.45% | |
Basic Earnings Per Share | -$0.29 | $0.58 | $0.05 |
Diluted Earnings Per Share | -$0.29 | $0.58 | $0.05 |
COMMON SHARES | |||
Basic Shares Outstanding | 371.4M shares | 385.7M shares | 65.22M shares |
Diluted Shares Outstanding | 371.4M shares | 65.38M shares |
Balance Sheet
Concept | 2019 Q1 | 2018 Q4 | 2018 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $3.944M | $2.358M | $89.50M |
YoY Change | -95.59% | -97.69% | 1527.27% |
Cash & Equivalents | $3.944M | $2.358M | $89.47M |
Short-Term Investments | |||
Other Short-Term Assets | $30.80M | $128.5M | $5.500M |
YoY Change | 460.05% | 4331.0% | -25.68% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $90.51M | $96.35M | $51.28M |
Other Receivables | $1.205M | $1.205M | $800.0K |
Total Short-Term Assets | $126.5M | $228.4M | $147.0M |
YoY Change | -13.98% | 49.53% | 205.09% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $1.241B | $1.203B | $510.7M |
YoY Change | 142.96% | 154.16% | 30.67% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $10.37M | $10.22M | $5.998M |
YoY Change | 72.85% | 86.16% | -26.81% |
Total Long-Term Assets | $1.269B | $1.275B | $517.5M |
YoY Change | 145.3% | 165.95% | 29.02% |
TOTAL ASSETS | |||
Total Short-Term Assets | $126.5M | $228.4M | $147.0M |
Total Long-Term Assets | $1.269B | $1.275B | $517.5M |
Total Assets | $1.396B | $1.504B | $664.5M |
YoY Change | 110.06% | 137.82% | 47.91% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $154.3M | $55.02M | $95.15M |
YoY Change | 62.21% | -40.94% | 48.2% |
Accrued Expenses | $1.823M | $83.24M | $6.608M |
YoY Change | -72.41% | 1213.01% | 39.96% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $226.1M | $231.5M | $147.9M |
YoY Change | 52.8% | 87.36% | 67.0% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $839.2M | $830.2M | $980.8M |
YoY Change | -14.43% | -15.22% | 19.1% |
Other Long-Term Liabilities | $381.0K | $105.0K | $24.50M |
YoY Change | -98.44% | -22.35% | 235.62% |
Total Long-Term Liabilities | $381.0K | $105.0K | $1.005B |
YoY Change | -99.96% | -22.35% | 21.0% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $226.1M | $231.5M | $147.9M |
Total Long-Term Liabilities | $381.0K | $105.0K | $1.005B |
Total Liabilities | $1.083B | $1.074B | $1.153B |
YoY Change | -6.09% | -4.39% | 25.44% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$904.0M | -$796.9M | -$937.6M |
YoY Change | -3.58% | -15.28% | 2.53% |
Common Stock | $1.217B | $1.227B | $448.8M |
YoY Change | 171.1% | 172.77% | 1.01% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $312.8M | $429.9M | -$488.8M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $1.396B | $1.504B | $664.5M |
YoY Change | 110.06% | 137.82% | 47.91% |
Cashflow Statement
Concept | 2019 Q1 | 2018 Q4 | 2018 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$107.2M | $218.3M | $2.965M |
YoY Change | -3714.23% | -1015.32% | -82.5% |
Depreciation, Depletion And Amortization | $45.13M | $48.29M | $18.60M |
YoY Change | 142.66% | 174.4% | 45.31% |
Cash From Operating Activities | $98.91M | $117.8M | $45.52M |
YoY Change | 117.28% | 1492.51% | 53.18% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $5.000K | -$164.4M | $22.00K |
YoY Change | -77.27% | 275.41% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | ||
YoY Change | |||
Cash From Investing Activities | -$77.91M | -$164.4M | -$58.02M |
YoY Change | 34.28% | 275.41% | 186.23% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $15.11M | $0.00 | |
YoY Change | -100.0% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -$19.41M | -64.03M | -$210.0K |
YoY Change | 9142.38% | -148.58% | -97.98% |
NET CHANGE | |||
Cash From Operating Activities | $98.91M | 117.8M | $45.52M |
Cash From Investing Activities | -$77.91M | -164.4M | -$58.02M |
Cash From Financing Activities | -$19.41M | -64.03M | -$210.0K |
Net Change In Cash | $1.586M | -110.6M | -$12.71M |
YoY Change | -112.48% | -215.94% | 1213.97% |
FREE CASH FLOW | |||
Cash From Operating Activities | $98.91M | $117.8M | $45.52M |
Capital Expenditures | $5.000K | -$164.4M | $22.00K |
Free Cash Flow | $98.90M | $282.3M | $45.50M |
YoY Change | 117.37% | 451.32% | 53.11% |
Facts In Submission
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CY2018Q1 | nog |
Gain Loss On Contingent Consideration
GainLossOnContingentConsideration
|
0 | USD |
CY2019Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
12000 | USD |
CY2018Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
167000 | USD |
CY2019Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-11857000 | USD |
CY2018Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-22940000 | USD |
CY2019Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-107162000 | USD |
CY2018Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
2965000 | USD |
CY2019Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
CY2018Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
CY2019Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-107162000 | USD |
CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
2965000 | USD |
CY2019Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.29 | |
CY2018Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.05 | |
CY2019Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.29 | |
CY2018Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.05 | |
CY2019Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
371448566 | shares |
CY2018Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
65215148 | shares |
CY2019Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
371448566 | shares |
CY2018Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
65382772 | shares |
CY2019Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-107162000 | USD |
CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
2965000 | USD |
CY2019Q1 | nog |
Depletion Depreciation Amortization And Accretion
DepletionDepreciationAmortizationAndAccretion
|
45134000 | USD |
CY2018Q1 | nog |
Depletion Depreciation Amortization And Accretion
DepletionDepreciationAmortizationAndAccretion
|
18631000 | USD |
CY2019Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
1301000 | USD |
CY2018Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
1363000 | USD |
CY2019Q1 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
-746000 | USD |
CY2018Q1 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
117000 | USD |
CY2019Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | USD |
CY2018Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | USD |
CY2019Q1 | nog |
Gain Loss On Contingent Consideration
GainLossOnContingentConsideration
|
1392000 | USD |
CY2018Q1 | nog |
Gain Loss On Contingent Consideration
GainLossOnContingentConsideration
|
0 | USD |
CY2019Q1 | us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
1742000 | USD |
CY2018Q1 | us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
0 | USD |
CY2019Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2751000 | USD |
CY2018Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
-820000 | USD |
CY2019Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
21000 | USD |
CY2018Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
40000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-5939000 | USD |
CY2018Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
4338000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-178000 | USD |
CY2018Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
723000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
5783000 | USD |
CY2018Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1890000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
426000 | USD |
CY2018Q1 | us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
13981000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-907000 | USD |
CY2018Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
354000 | USD |
CY2019Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
98908000 | USD |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
45521000 | USD |
CY2019Q1 | us-gaap |
Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
|
69786000 | USD |
CY2018Q1 | us-gaap |
Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
|
52893000 | USD |
CY2019Q1 | us-gaap |
Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
|
8122000 | USD |
CY2018Q1 | us-gaap |
Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
|
5107000 | USD |
CY2019Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
5000 | USD |
CY2018Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
22000 | USD |
CY2019Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-77913000 | USD |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-58022000 | USD |
CY2019Q1 | nog |
Advances On Revolving Credit Facility
AdvancesOnRevolvingCreditFacility
|
53000000 | USD |
CY2018Q1 | nog |
Advances On Revolving Credit Facility
AdvancesOnRevolvingCreditFacility
|
0 | USD |
CY2019Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
46000000 | USD |
CY2018Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
0 | USD |
CY2019Q1 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
70000 | USD |
CY2018Q1 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
21000 | USD |
CY2019Q1 | nog |
Payments For Debt Derivative Exchange Settlements
PaymentsForDebtDerivativeExchangeSettlements
|
894000 | USD |
CY2018Q1 | nog |
Payments For Debt Derivative Exchange Settlements
PaymentsForDebtDerivativeExchangeSettlements
|
0 | USD |
CY2019Q1 | us-gaap |
Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
|
9778000 | USD |
CY2018Q1 | us-gaap |
Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
|
0 | USD |
CY2019Q1 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
15108000 | USD |
CY2018Q1 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
0 | USD |
CY2019Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
558000 | USD |
CY2018Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
188000 | USD |
CY2019Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-19409000 | USD |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-210000 | USD |
CY2019Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
1586000 | USD |
CY2018Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-12710000 | USD |
CY2018Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2358000 | USD |
CY2017Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
102183000 | USD |
CY2019Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3944000 | USD |
CY2018Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
89473000 | USD |
CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
429865000 | USD |
CY2019Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
3000 | USD |
CY2019Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
|
0 | USD |
CY2019Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2832000 | USD |
CY2019Q1 | nog |
Restricted Stock Surrenders Tax Obligations Value
RestrictedStockSurrendersTaxObligationsValue
|
558000 | USD |
CY2019Q1 | nog |
Stock Repurchased During Period Value Net Of Contingent Consideration Settlements
StockRepurchasedDuringPeriodValueNetOfContingentConsiderationSettlements
|
15108000 | USD |
CY2019Q1 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
2887000 | USD |
CY2019Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-107162000 | USD |
CY2019Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
312760000 | USD |
CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-490841000 | USD |
CY2018Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
0 | USD |
CY2018Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
|
1000 | USD |
CY2018Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
-712000 | USD |
CY2018Q1 | nog |
Restricted Stock Surrenders Tax Obligations Value
RestrictedStockSurrendersTaxObligationsValue
|
188000 | USD |
CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
2965000 | USD |
CY2018Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-488776000 | USD |
CY2019Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
ORGANIZATION AND NATURE OF BUSINESS<div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:120%;">Northern Oil and Gas, Inc. (the “Company,” “Northern,” “our” and words of similar import), a Delaware corporation, is an independent energy company engaged in the acquisition, exploration, exploitation, development and production of crude oil and natural gas properties.</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:120%;">The Company’s common stock trades on the NYSE American market under the symbol “NOG”</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">.</span></div><div><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:120%;">Northern’s principal business is crude oil and natural gas exploration, development, and production with operations in North Dakota and Montana that primarily target the Bakken and Three Forks formations in the Williston Basin of the United States.</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:120%;">The Company acquires leasehold interests that comprise of non-operated working interests in wells and in drilling projects within its area of operations.</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">For the three months ended March 31, 2019, crude oil accounted for 82% of the Company’s total production and 93% of its oil and gas sales.</span></div> | |
CY2019Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:120%;">The preparation of financial statements under GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to proved crude oil and natural gas reserve</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">s</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:120%;">, estimates relating to certain crude oil and natural gas revenues and expenses, fair value of derivative instruments, </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">fair value of contingent consideration, acquisition date fair values of assets acquired and liabilities assumed, </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:120%;">impairment of oil and natural gas properties, </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">asset retirement obligations </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:120%;">and deferred income taxes. Actual results may differ from those estimates.</span> | |
CY2019Q1 | nog |
Revenuefrom Contractwith Customer Numberof Revenue Sources
RevenuefromContractwithCustomerNumberofRevenueSources
|
2 | revenue_source |
CY2019Q1 | nog |
Numberof Geographic Areasinwhich Entity Operates
NumberofGeographicAreasinwhichEntityOperates
|
1 | geographic_area |
CY2019Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-107162000 | USD |
CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
2965000 | USD |
CY2019Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
371449000 | shares |
CY2018Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
65215000 | shares |
CY2019Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares |
CY2018Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
168000 | shares |
CY2019Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
371449000 | shares |
CY2018Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
65383000 | shares |
CY2019Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.29 | |
CY2018Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.05 | |
CY2019Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.29 | |
CY2018Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.05 | |
CY2019Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
16929000 | USD |
CY2018Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
7631000 | USD |
CY2019Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
0 | USD |
CY2018Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
0 | USD |
CY2019Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
133872000 | USD |
CY2018Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
85068000 | USD |
CY2019Q1 | nog |
Capitalized Asset Retirement Obligations
CapitalizedAssetRetirementObligations
|
226000 | USD |
CY2018Q1 | nog |
Capitalized Asset Retirement Obligations
CapitalizedAssetRetirementObligations
|
184000 | USD |
CY2019Q1 | nog |
Compensation Capitalizedon Oiland Gas Properties
CompensationCapitalizedonOilandGasProperties
|
84000 | USD |
CY2018Q1 | nog |
Compensation Capitalizedon Oiland Gas Properties
CompensationCapitalizedonOilandGasProperties
|
54000 | USD |
CY2019Q1 | nog |
Noncash Or Part Noncash Acquisition Contingent Consideration Settlements
NoncashOrPartNoncashAcquisitionContingentConsiderationSettlements
|
2887000 | USD |
CY2018Q1 | nog |
Noncash Or Part Noncash Acquisition Contingent Consideration Settlements
NoncashOrPartNoncashAcquisitionContingentConsiderationSettlements
|
0 | USD |
CY2019Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
133900000 | USD |
CY2018 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
129500000 | USD |
CY2019Q1 | nog |
Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
|
8400000 | USD |
CY2019Q1 | nog |
Anticipated Timing Of Inclusion Of Cost In Amortization Calculation
AnticipatedTimingOfInclusionOfCostInAmortizationCalculation
|
P5Y | |
CY2019Q1 | nog |
Lease Amount Expired
LeaseAmountExpired
|
700000 | USD |
CY2018Q1 | nog |
Lease Amount Expired
LeaseAmountExpired
|
3800000 | USD |
CY2019Q1 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
843878000 | USD |
CY2019Q1 | us-gaap |
Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
|
-12491000 | USD |
CY2019Q1 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
17139000 | USD |
CY2019Q1 | us-gaap |
Long Term Debt
LongTermDebt
|
839229000 | USD |
CY2018Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
835140000 | USD |
CY2018Q4 | us-gaap |
Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
|
-13237000 | USD |
CY2018Q4 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
18173000 | USD |
CY2018Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
830203000 | USD |
CY2019Q1 | nog |
Stock Shares Authorized
StockSharesAuthorized
|
680000000 | shares |
CY2019Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
675000000 | shares |
CY2019Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2019Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | shares |
CY2019Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2018Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
378333000 | shares |
CY2017Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
66792000 | shares |
CY2019Q1 | us-gaap |
Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
|
5635000 | shares |
CY2018 | us-gaap |
Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
|
7360000 | shares |
CY2019Q1 | us-gaap |
Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
|
0 | shares |
CY2018 | us-gaap |
Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
|
63000 | shares |
CY2019Q1 | us-gaap |
Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
|
3160000 | shares |
CY2018 | us-gaap |
Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
|
3295000 | shares |
CY2019Q1 | nog |
Stock Issued During Period Shares Debt Exchange Agreements
StockIssuedDuringPeriodSharesDebtExchangeAgreements
|
0 | shares |
CY2018 | nog |
Stock Issued During Period Shares Debt Exchange Agreements
StockIssuedDuringPeriodSharesDebtExchangeAgreements
|
136064000 | shares |
CY2019Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
0 | shares |
CY2018 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
96926000 | shares |
CY2019Q1 | us-gaap |
Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
|
0 | shares |
CY2018 | us-gaap |
Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
|
83731000 | shares |
CY2019Q1 | nog |
Stock Issued During Period Shares Sharebased Compensation Legal Settlement
StockIssuedDuringPeriodSharesSharebasedCompensationLegalSettlement
|
1168000 | shares |
CY2018 | nog |
Stock Issued During Period Shares Sharebased Compensation Legal Settlement
StockIssuedDuringPeriodSharesSharebasedCompensationLegalSettlement
|
0 | shares |
CY2019Q1 | us-gaap |
Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
|
221000 | shares |
CY2018 | us-gaap |
Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
|
267000 | shares |
CY2019Q1 | us-gaap |
Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
|
5000 | shares |
CY2018 | us-gaap |
Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
|
911000 | shares |
CY2019Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
376800000 | shares |
CY2018Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
378333000 | shares |
CY2019Q1 | nog |
Stock Issued During Period Shares Sharebased Compensation Legal Settlement
StockIssuedDuringPeriodSharesSharebasedCompensationLegalSettlement
|
1200000 | shares |
CY2011Q2 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
150000000.0 | USD |
CY2019Q1 | us-gaap |
Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
|
5600000 | shares |
CY2019Q1 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
16300000 | USD |
CY2019Q1 | nog |
Stock Repurchased During Period Value Settlement Of Contingent Consideration Liabilities
StockRepurchasedDuringPeriodValueSettlementOfContingentConsiderationLiabilities
|
1200000 | USD |
CY2019Q1 | nog |
Sharebased Compensation Expense Capitalized In Oil And Natural Gas Properties
SharebasedCompensationExpenseCapitalizedInOilAndNaturalGasProperties
|
84000 | USD |
CY2018Q1 | nog |
Sharebased Compensation Expense Capitalized In Oil And Natural Gas Properties
SharebasedCompensationExpenseCapitalizedInOilAndNaturalGasProperties
|
54000 | USD |
CY2019Q1 | us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
2751000 | USD |
CY2018Q1 | us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
-886000 | USD |
CY2019Q1 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
0 | USD |
CY2018Q1 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
0 | USD |
CY2019Q1 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-21237000 | USD |
CY2018Q1 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
620000 | USD |
CY2019Q1 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
-4657000 | USD |
CY2018Q1 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
137000 | USD |
CY2019Q1 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
-25894000 | USD |
CY2018Q1 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
757000 | USD |
CY2019Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
CY2018Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
CY2019Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
149600000 | USD |
CY2018Q4 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
76252000 | USD |
CY2019Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
46385000 | USD |
CY2019Q1 | us-gaap |
Long Term Debt
LongTermDebt
|
839200000 | USD |
CY2019Q1 | nog |
Capitalized Asset Retirement Obligations
CapitalizedAssetRetirementObligations
|
200000 | USD |
CY2019Q1 | nog |
Cash Received Paid On Derivatives
CashReceivedPaidOnDerivatives
|
12546000 | USD |
CY2018Q1 | nog |
Cash Received Paid On Derivatives
CashReceivedPaidOnDerivatives
|
-8130000 | USD |
CY2019Q1 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
-152169000 | USD |
CY2018Q1 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
-12141000 | USD |
CY2019Q1 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
-139623000 | USD |
CY2018Q1 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
-20271000 | USD |
CY2019Q1 | us-gaap |
Derivative Assets
DerivativeAssets
|
36417000 | USD |
CY2018Q4 | us-gaap |
Derivative Assets
DerivativeAssets
|
177713000 | USD |
CY2019Q1 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
10873000 | USD |
CY2018Q4 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
0 | USD |
CY2019Q1 | us-gaap |
Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
|
57508000 | USD |
CY2019Q1 | us-gaap |
Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
|
21091000 | USD |
CY2019Q1 | us-gaap |
Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
|
36417000 | USD |
CY2019Q1 | us-gaap |
Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
|
31964000 | USD |
CY2019Q1 | us-gaap |
Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
|
21091000 | USD |
CY2019Q1 | us-gaap |
Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
|
10873000 | USD |
CY2018Q4 | us-gaap |
Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
|
178477000 | USD |
CY2018Q4 | us-gaap |
Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
|
764000 | USD |
CY2018Q4 | us-gaap |
Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
|
177713000 | USD |
CY2018Q4 | us-gaap |
Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
|
764000 | USD |
CY2018Q4 | us-gaap |
Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
|
0 | USD |
CY2018Q4 | us-gaap |
Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
|
764000 | USD |