$NOG
NORTHERN OIL & GAS, INC.

2021 Q4 Form 10-Q Financial Statement

#000110448521000128 Filed on November 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021 Q2
Revenue $319.2M $131.5M $24.81M
YoY Change 537.42% 177.9% -147.73%
Cost Of Revenue $75.63M $43.24M $42.70M
YoY Change 103.09% 78.96% 60.29%
Gross Profit $243.6M $88.27M -$17.89M
YoY Change 1797.21% 281.09% -77.24%
Gross Profit Margin 76.31% 67.12% -72.14%
Selling, General & Admin $10.46M $5.490M $7.604M
YoY Change 139.92% 19.22% -20.63%
% of Gross Profit 4.3% 6.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $42.82M $35.89M $30.91M
YoY Change 30.65% 16.57% -15.91%
% of Gross Profit 17.58% 40.65%
Operating Expenses $53.28M $41.38M $38.51M
YoY Change 43.49% 16.91% -64.39%
Operating Profit $190.3M $26.96M -$74.92M
YoY Change -883.3% -112.33% -91.53%
Interest Expense -$15.31M $14.59M $15.02M
YoY Change 16.24% -0.35% 7.64%
% of Operating Profit -8.05% 54.09%
Other Income/Expense, Net -$14.00K -$14.41M -$15.64M
YoY Change -46.15% 0.41% 7.94%
Pretax Income $175.0M $12.55M -$90.56M
YoY Change -223.11% -105.39% -89.93%
Income Tax $233.0K $0.00 $0.00
% Of Pretax Income 0.13% 0.0%
Net Earnings $174.7M $12.55M -$90.56M
YoY Change -222.94% -105.39% -89.93%
Net Earnings / Revenue 54.74% 9.55% -365.1%
Basic Earnings Per Share $0.14 -$1.55
Diluted Earnings Per Share $2.470M $0.13 -$1.55
COMMON SHARES
Basic Shares Outstanding 66.20M shares 65.86M shares 60.69M shares
Diluted Shares Outstanding 66.63M shares 60.69M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.519M $2.006M $4.843M
YoY Change 566.6% 11.26% 163.49%
Cash & Equivalents $9.519M $2.006M $4.843M
Short-Term Investments
Other Short-Term Assets $12.26M $7.530M $3.656M
YoY Change -76.96% -93.82% -97.71%
Inventory
Prepaid Expenses
Receivables $193.6M $158.0M $131.2M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $215.3M $167.6M $139.7M
YoY Change 71.4% -8.8% -31.9%
LONG-TERM ASSETS
Property, Plant & Equipment $1.253B $1.065B $930.1M
YoY Change 70.48% 29.34% -7.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.68M $11.97M $12.63M
YoY Change 4.83% 2.12% -8.16%
Total Long-Term Assets $1.308B $1.076B $952.1M
YoY Change 75.17% 27.88% -10.02%
TOTAL ASSETS
Total Short-Term Assets $215.3M $167.6M $139.7M
Total Long-Term Assets $1.308B $1.076B $952.1M
Total Assets $1.523B $1.244B $1.092B
YoY Change 74.62% 21.31% -13.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $65.46M $65.91M $49.19M
YoY Change 82.85% 223.54% -1.64%
Accrued Expenses $105.6M $100.4M $91.72M
YoY Change 53.76% 43.08% 69.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Total Short-Term Liabilities $327.6M $355.2M $300.8M
YoY Change 79.51% 108.37% 67.86%
LONG-TERM LIABILITIES
Long-Term Debt $803.4M $858.4M $802.0M
YoY Change -8.68% -6.52% -13.22%
Other Long-Term Liabilities $3.110M $4.349M $3.490M
YoY Change 6120.0% 3351.59% 1653.77%
Total Long-Term Liabilities $806.5M $862.8M $805.5M
YoY Change -8.34% -6.06% -12.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $327.6M $355.2M $300.8M
Total Long-Term Liabilities $806.5M $862.8M $805.5M
Total Liabilities $1.308B $1.402B $1.260B
YoY Change 19.38% 26.37% 12.25%
SHAREHOLDERS EQUITY
Retained Earnings -$1.774B -$1.949B -$1.961B
YoY Change -0.36% 18.95% 39.68%
Common Stock $1.989B $1.791B $1.793B
YoY Change 27.75% 15.21% 16.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $215.1M -$157.7M -$168.2M
YoY Change
Total Liabilities & Shareholders Equity $1.523B $1.244B $1.092B
YoY Change 74.62% 21.31% -13.57%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021 Q2
OPERATING ACTIVITIES
Net Income $174.7M $12.55M -$90.56M
YoY Change -222.94% -105.39% -89.93%
Depreciation, Depletion And Amortization $42.82M $35.89M $30.91M
YoY Change 30.65% 16.57% -15.91%
Cash From Operating Activities $133.1M $94.41M $106.2M
YoY Change 82.25% 67.37% 4.53%
INVESTING ACTIVITIES
Capital Expenditures -$229.0M -$160.7M -$169.0M
YoY Change 561.77% 169.65% 98.23%
Acquisitions
YoY Change
Other Investing Activities -$40.65M $9.400M $8.100M
YoY Change 1612.2% -1147.87%
Cash From Investing Activities -$269.6M -$151.3M -$160.9M
YoY Change 684.36% 156.23% 87.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $95.30M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 144.0M 54.03M 56.80M
YoY Change -468.99% 1985.91% -355.32%
NET CHANGE
Cash From Operating Activities 133.1M 94.41M 106.2M
Cash From Investing Activities -269.6M -151.3M -160.9M
Cash From Financing Activities 144.0M 54.03M 56.80M
Net Change In Cash 7.514M -2.837M 2.114M
YoY Change -2103.73% 7780.56% -131.68%
FREE CASH FLOW
Cash From Operating Activities $133.1M $94.41M $106.2M
Capital Expenditures -$229.0M -$160.7M -$169.0M
Free Cash Flow $362.1M $255.1M $275.2M
YoY Change 236.39% 119.91% 47.28%

Facts In Submission

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NORTHERN OIL AND GAS, INC.
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NetIncomeLoss
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CY2021Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3605000 USD
CY2020Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3718000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
11154000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
10986000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-179521000 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
8949000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-236722000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-774904000 USD
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.44
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.97
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-18.53
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.44
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.97
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-18.53
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65856479 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43517074 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60404584 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41812553 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66629566 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43517074 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60404584 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41812553 shares
us-gaap Net Income Loss
NetIncomeLoss
-168367000 USD
us-gaap Net Income Loss
NetIncomeLoss
-763918000 USD
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
98013000 USD
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
129350000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2750000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3999000 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
1543000 USD
us-gaap Gains Losses On Extinguishment Of Debt Before Write Off Of Deferred Debt Issuance Cost
GainsLossesOnExtinguishmentOfDebtBeforeWriteOffOfDeferredDebtIssuanceCost
-13087000 USD
us-gaap Gains Losses On Extinguishment Of Debt Before Write Off Of Deferred Debt Issuance Cost
GainsLossesOnExtinguishmentOfDebtBeforeWriteOffOfDeferredDebtIssuanceCost
-3718000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-130000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-802000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
210000 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-373086000 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
123595000 USD
nog Gain Loss On Contingent Consideration
GainLossOnContingentConsideration
-292000 USD
nog Gain Loss On Contingent Consideration
GainLossOnContingentConsideration
0 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2247000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3182000 USD
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
962205000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-3293000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
172000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
86747000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-48491000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
975000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-268000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
21683000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1127000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-3965000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-3199000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
9098000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1501000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
263365000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
258652000 USD
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
118196000 USD
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
218193000 USD
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
246282000 USD
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
31075000 USD
nog Payments For Acquisition Deposit
PaymentsForAcquisitionDeposit
0 USD
nog Payments For Acquisition Deposit
PaymentsForAcquisitionDeposit
225000 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
339000 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
59000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-364817000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-249552000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
428000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
56000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
641000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
65000000 USD
us-gaap Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
295918000 USD
us-gaap Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
13514000 USD
us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
130000000 USD
us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
12436000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
447000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
228199000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
550000000 USD
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
0 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
839000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
404000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
22002000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1975000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
102029000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-23365000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
578000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-14265000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1428000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16068000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2006000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1803000 USD
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-223304000 USD
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
916000 USD
CY2021Q1 nog Stock Issued During Period Value Restricted Stock Award Surrenders Tax Obligations
StockIssuedDuringPeriodValueRestrictedStockAwardSurrendersTaxObligations
837000 USD
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
132900000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-90357000 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
-180682000 USD
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
851000 USD
CY2021Q2 nog Stock Issued During Period Value Restricted Stock Award Surrenders Tax Obligations
StockIssuedDuringPeriodValueRestrictedStockAwardSurrendersTaxObligations
2000 USD
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
95299000 USD
CY2021Q2 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
30512000 USD
CY2021Q2 nog Stock Issued During Period Value Contingent Consideration Settlements
StockIssuedDuringPeriodValueContingentConsiderationSettlements
354000 USD
CY2021Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
22002000 USD
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.03
CY2021Q2 us-gaap Dividends Common Stock
DividendsCommonStock
1985000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-90563000 USD
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-168217000 USD
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
728000 USD
CY2021Q3 nog Stock Issued During Period Value Contingent Consideration Settlements
StockIssuedDuringPeriodValueContingentConsiderationSettlements
189000 USD
CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.0450
CY2021Q3 us-gaap Dividends Common Stock
DividendsCommonStock
2963000 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
12554000 USD
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
-157710000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
558643000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1263000 USD
CY2020Q1 nog Stock Issued During Period Value Restricted Stock Award Surrenders Tax Obligations
StockIssuedDuringPeriodValueRestrictedStockAwardSurrendersTaxObligations
396000 USD
CY2020Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
81212000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
368286000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
1009007000 USD
CY2020Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
2000 USD
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1313000 USD
CY2020Q2 nog Stock Issued During Period Value Restricted Stock Award Surrenders Tax Obligations
StockIssuedDuringPeriodValueRestrictedStockAwardSurrendersTaxObligations
8000 USD
CY2020Q2 nog Stock Issued During Period Value Debt Exchange Agreements
StockIssuedDuringPeriodValueDebtExchangeAgreements
29615000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-899200000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
140729000 USD
CY2020Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
990000 USD
CY2020Q3 nog Stock Issued During Period Value Debt Exchange Agreements
StockIssuedDuringPeriodValueDebtExchangeAgreements
7554000 USD
CY2020Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-233004000 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
-83731000 USD
us-gaap Nature Of Operations
NatureOfOperations
ORGANIZATION AND NATURE OF BUSINESS<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;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. The Company’s common stock trades on the NYSE American market under the symbol “NOG”.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;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 the United States. The Company’s primary strategy is investing in non-operated minority working and mineral interests in oil and gas properties in the United States.</span></div>
us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Use of Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;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.  </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The most significant estimates relate to proved crude oil and natural gas reserves, which includes limited control over future development plans as a non-operator, estimates relating to certain crude oil and natural gas revenues and expenses, fair value of derivative instruments, fair value of contingent consideration, acquisition date fair values of assets acquired and liabilities assumed, impairment of crude oil and natural gas properties, asset retirement obligations and deferred income taxes.  Actual results may differ from those estimates.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company considered the impact of the novel coronavirus 2019 (“COVID-19”) pandemic on the assumptions and estimates used by management in the unaudited condensed financial statements for the reporting periods presented. Management’s estimates and assumptions were based on historical data and consideration of future market conditions. Given the uncertainty inherent in any projection, which is heightened by the possibility of unforeseen additional impacts from the COVID-19 pandemic, actual results may differ from the estimates and assumptions used, and conditions may change, which could materially affect amounts reported in the unaudited condensed financial statements in the near term.</span></div>
CY2021Q3 nog Revenuefrom Contractwith Customer Numberof Revenue Sources
RevenuefromContractwithCustomerNumberofRevenueSources
2 revenueSource
CY2021Q3 nog Numberof Geographic Areasinwhich Entity Operates
NumberofGeographicAreasinwhichEntityOperates
3 geographicArea
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Concentrations of Market, Credit Risk and Other Risks</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The future results of the Company’s crude oil and natural gas operations will be affected by the market prices of crude oil and natural gas.  The availability of a ready market for crude oil and natural gas products in the future will depend on numerous factors beyond the control of the Company, including weather, imports, marketing of competitive fuels, proximity and capacity of crude oil and natural gas pipelines and other transportation facilities, any oversupply or undersupply of crude oil, natural gas and liquid products, economic disruptions resulting from the COVID-19 pandemic, the regulatory environment, the economic environment, and other regional and political events, none of which can be predicted with certainty.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company operates in the exploration, development and production sector of the crude oil and natural gas industry.  The Company’s receivables include amounts due, indirectly via the third-party operators of the wells, from purchasers of its crude oil and natural gas production.  While certain of these customers, as well as third-party operators of the wells, are affected by periodic downturns in the economy in general or in their specific segment of the crude oil or natural gas industry, the Company believes that its level of credit-related losses due to such economic fluctuations have been immaterial.</span></div>As a non-operator, 100% of the Company’s wells are operated by third-party operating partners. As a result, the Company is highly dependent on the success of these third-party operators. If they are not successful in the development, exploitation, production and exploration activities relating to the Company’s leasehold interests, or are unable or unwilling to perform, the Company’s financial condition and results of operation could be adversely affected. These risks are heightened in a low commodity price environment, which may present significant challenges to these third-party operators. The Company’s third-party operators will make decisions in connection with their operations that may not be in the Company’s best interests, and the Company may have little or no ability to exercise influence over the operational decisions of its third-party operators.<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company faces concentration risk due to the fact that a substantial majority of its oil and natural gas revenue is sourced from North Dakota. Recent acquisitions have diversified our portfolio to include New Mexico and Pennsylvania. But the Company remains disproportionately exposed to risks affecting a limited number of geographic areas of operations.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company manages and controls market and counterparty credit risk. In the normal course of business, collateral is not required for financial instruments with credit risk. Financial instruments which potentially subject the Company to credit risk consist principally of temporary cash balances and derivative financial instruments. The Company maintains cash and cash equivalents in bank deposit accounts which, at times, may exceed the federally insured limits. The Company has not experienced any significant losses from such investments. The Company attempts to limit the amount of credit exposure to any one financial institution or company. The Company believes the credit quality of its counterparties is generally high. In the normal course of business, letters of credit or parent guarantees may be required for counterparties which management perceives to have a higher credit risk.</span></div>
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
12554000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-233004000 USD
us-gaap Net Income Loss
NetIncomeLoss
-168367000 USD
us-gaap Net Income Loss
NetIncomeLoss
-763918000 USD
CY2021Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3605000 USD
CY2020Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3718000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
11154000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
10986000 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
8949000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-236722000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-179521000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-774904000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65856479 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43517074 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60404584 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41812553 shares
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
773087 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66629566 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43517074 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60404584 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41812553 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.44
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.97
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-18.53
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.44
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.97
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-18.53
us-gaap Interest Paid Net
InterestPaidNet
41283000 USD
us-gaap Interest Paid Net
InterestPaidNet
42736000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
111897000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
76498000 USD
nog Capitalized Asset Retirement Obligations
CapitalizedAssetRetirementObligations
8564000 USD
nog Capitalized Asset Retirement Obligations
CapitalizedAssetRetirementObligations
457000 USD
us-gaap Asset Acquisition Consideration Transferred Contingent Consideration
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544000 USD
us-gaap Asset Acquisition Consideration Transferred Contingent Consideration
AssetAcquisitionConsiderationTransferredContingentConsideration
0 USD
nog Compensation Capitalizedon Oiland Gas Properties
CompensationCapitalizedonOilandGasProperties
246000 USD
nog Compensation Capitalizedon Oiland Gas Properties
CompensationCapitalizedonOilandGasProperties
385000 USD
us-gaap Stock Issued1
StockIssued1
30512000 USD
us-gaap Stock Issued1
StockIssued1
0 USD
us-gaap Dividends Common Stock
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2973000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
0 USD
us-gaap Conversion Of Stock Amount Issued1
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0 USD
us-gaap Conversion Of Stock Amount Issued1
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1113000 USD
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
CY2021Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
CY2021Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
95300000 USD
CY2020Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
199500000 USD
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
962200000 USD
nog Anticipated Timing Of Inclusion Of Cost In Amortization Calculation
AnticipatedTimingOfInclusionOfCostInAmortizationCalculation
P5Y
CY2021Q3 nog Lease Amount Expired
LeaseAmountExpired
500000 USD
CY2020Q3 nog Lease Amount Expired
LeaseAmountExpired
700000 USD
nog Lease Amount Expired
LeaseAmountExpired
1200000 USD
nog Lease Amount Expired
LeaseAmountExpired
2700000 USD
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
869000000 USD
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
949755000 USD
CY2021Q3 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
0 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-2041000 USD
CY2021Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
10585000 USD
nog Stock Issued During Period Shares New Issues Contingent Consideration
StockIssuedDuringPeriodSharesNewIssuesContingentConsideration
32205 shares
CY2021Q3 us-gaap Deferred Finance Costs Net
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10585000 USD
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6953000 USD
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
858415000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
944843000 USD
CY2021Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 USD
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
65000000 USD
CY2021Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
858415000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
879843000 USD
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
135000000 shares
CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
66178148 shares
CY2021Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
66178148 shares
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.03
CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.045
us-gaap Preferred Stock Amount Of Preferred Dividends In Arrears
PreferredStockAmountOfPreferredDividendsInArrears
5400000 USD
CY2021Q2 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
5750000 shares
CY2021Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
17.50
CY2011Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
150000000 USD
CY2021Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2020Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
us-gaap Costs Incurred Asset Retirement Obligation Incurred
CostsIncurredAssetRetirementObligationIncurred
8400000 USD
CY2021Q3 nog Derivative Gain Loss On Derivative Net Settled Commodity Derivatives
DerivativeGainLossOnDerivativeNetSettledCommodityDerivatives
-56318000 USD
CY2020Q3 nog Derivative Gain Loss On Derivative Net Settled Commodity Derivatives
DerivativeGainLossOnDerivativeNetSettledCommodityDerivatives
43837000 USD
nog Derivative Gain Loss On Derivative Net Settled Commodity Derivatives
DerivativeGainLossOnDerivativeNetSettledCommodityDerivatives
-91470000 USD
nog Derivative Gain Loss On Derivative Net Settled Commodity Derivatives
DerivativeGainLossOnDerivativeNetSettledCommodityDerivatives
152782000 USD
CY2021Q3 nog Derivative Gain Loss On Derivative Net Unsettled Commodity Derivatives
DerivativeGainLossOnDerivativeNetUnsettledCommodityDerivatives
-71845000 USD
CY2020Q3 nog Derivative Gain Loss On Derivative Net Unsettled Commodity Derivatives
DerivativeGainLossOnDerivativeNetUnsettledCommodityDerivatives
-70198000 USD
nog Derivative Gain Loss On Derivative Net Unsettled Commodity Derivatives
DerivativeGainLossOnDerivativeNetUnsettledCommodityDerivatives
-373540000 USD
nog Derivative Gain Loss On Derivative Net Unsettled Commodity Derivatives
DerivativeGainLossOnDerivativeNetUnsettledCommodityDerivatives
124800000 USD
CY2021Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-128163000 USD
CY2020Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-26361000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-465010000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
277582000 USD
CY2021Q3 us-gaap Derivative Assets
DerivativeAssets
4880000 USD
CY2020Q4 us-gaap Derivative Assets
DerivativeAssets
56218000 USD
CY2021Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
344303000 USD
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
22554000 USD
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
4880000 USD
CY2021Q3 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
4880000 USD
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
0 USD
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
344303000 USD
CY2021Q3 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
4880000 USD
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
339422000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
56218000 USD
CY2020Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
4817000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
51401000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
22554000 USD
CY2020Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
4817000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
17737000 USD

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