2022 Q3 Form 10-Q Financial Statement

#000110448522000159 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $791.6M $441.4M -$32.93M
YoY Change 501.98% 1679.67% -253.9%
Cost Of Revenue $68.48M $64.64M $54.54M
YoY Change 58.38% 51.39% 58.95%
Gross Profit $723.2M $376.8M -$87.47M
YoY Change 719.25% -2205.76% 577.27%
Gross Profit Margin 91.35% 85.36%
Selling, General & Admin $10.28M $8.064M $7.013M
YoY Change 87.21% 6.05% 3.41%
% of Gross Profit 1.42% 2.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $65.98M $54.80M $53.19M
YoY Change 83.85% 77.29% 70.35%
% of Gross Profit 9.12% 14.54%
Operating Expenses $76.25M $62.86M $60.20M
YoY Change 84.29% 63.22% 58.4%
Operating Profit $604.6M $270.1M -$189.1M
YoY Change 2142.39% -460.52% 193.74%
Interest Expense $20.14M $18.41M $17.98M
YoY Change 38.04% 22.54% 33.06%
% of Operating Profit 3.33% 6.82%
Other Income/Expense, Net -$19.84M -$17.84M -$16.69M
YoY Change 37.68% 14.01% -35.78%
Pretax Income $584.8M $252.3M -$205.8M
YoY Change 4558.26% -378.56% 127.73%
Income Tax $1.333M $1.006M $789.0K
% Of Pretax Income 0.23% 0.4%
Net Earnings $583.5M $251.3M -$206.6M
YoY Change 4547.64% -377.45% 128.6%
Net Earnings / Revenue 73.7% 56.92%
Basic Earnings Per Share $7.39 $3.08 -$2.92
Diluted Earnings Per Share $6.77 $2.74 -$2.92
COMMON SHARES
Basic Shares Outstanding 78.91M shares 77.37M shares 76.92M shares
Diluted Shares Outstanding 86.14M shares 86.79M shares 76.92M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.129M $1.471M $3.335M
YoY Change 355.08% -69.63% 22.21%
Cash & Equivalents $9.129M $1.471M $3.335M
Short-Term Investments
Other Short-Term Assets $49.43M $20.47M $22.37M
YoY Change 556.39% 459.76% 357.31%
Inventory
Prepaid Expenses
Receivables $318.1M $360.9M $297.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $376.7M $382.8M $323.5M
YoY Change 124.78% 174.08% 215.8%
LONG-TERM ASSETS
Property, Plant & Equipment $2.015B $1.771B $1.690B
YoY Change 89.29% 90.44% 127.58%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.93M $16.56M $10.99M
YoY Change 33.08% 31.04% 3.85%
Total Long-Term Assets $2.095B $1.809B $1.701B
YoY Change 94.6% 90.04% 120.68%
TOTAL ASSETS
Total Short-Term Assets $376.7M $382.8M $323.5M
Total Long-Term Assets $2.095B $1.809B $1.701B
Total Assets $2.471B $2.192B $2.024B
YoY Change 98.66% 100.79% 131.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $142.7M $141.4M $101.7M
YoY Change 116.47% 187.42% 149.33%
Accrued Expenses $114.9M $127.6M $137.6M
YoY Change 14.34% 39.13% 89.35%
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 $381.7M $635.9M $625.5M
YoY Change 7.48% 111.39% 301.06%
LONG-TERM LIABILITIES
Long-Term Debt $1.169B $1.102B $1.120B
YoY Change 36.21% 37.43% 37.02%
Other Long-Term Liabilities $2.116M $2.186M $2.304M
YoY Change -51.35% -37.36% 8761.54%
Total Long-Term Liabilities $2.116M $2.186M $2.304M
YoY Change -99.75% -99.73% -99.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $381.7M $635.9M $625.5M
Total Long-Term Liabilities $2.116M $2.186M $2.304M
Total Liabilities $1.762B $2.040B $2.060B
YoY Change 25.72% 61.87% 95.44%
SHAREHOLDERS EQUITY
Retained Earnings -$1.146B -$1.729B -$1.981B
YoY Change -41.2% -11.83% 5.87%
Common Stock $1.855B $1.882B $1.945B
YoY Change 3.57% 4.96% 15.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $709.1M $152.7M -$35.30M
YoY Change
Total Liabilities & Shareholders Equity $2.471B $2.192B $2.024B
YoY Change 98.66% 100.79% 131.83%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $583.5M $251.3M -$206.6M
YoY Change 4547.64% -377.45% 128.6%
Depreciation, Depletion And Amortization $65.98M $54.80M $53.19M
YoY Change 83.85% 77.29% 70.35%
Cash From Operating Activities $276.8M $210.2M $154.0M
YoY Change 193.14% 97.99% 145.41%
INVESTING ACTIVITIES
Capital Expenditures -$301.3M -$111.2M -$417.6M
YoY Change 87.5% -34.2% 1087.31%
Acquisitions
YoY Change
Other Investing Activities -$11.50M -$17.00M $0.00
YoY Change -222.34% -309.88% -100.0%
Cash From Investing Activities -$312.8M -$128.2M -$417.6M
YoY Change 106.75% -20.32% 692.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 43.66M -83.92M $257.4M
YoY Change -19.19% -247.76% -3027.1%
NET CHANGE
Cash From Operating Activities 276.8M 210.2M $154.0M
Cash From Investing Activities -312.8M -128.2M -$417.6M
Cash From Financing Activities 43.66M -83.92M $257.4M
Net Change In Cash 7.658M -1.863M -$6.185M
YoY Change -369.93% -188.13% -575.4%
FREE CASH FLOW
Cash From Operating Activities $276.8M $210.2M $154.0M
Capital Expenditures -$301.3M -$111.2M -$417.6M
Free Cash Flow $578.0M $321.4M $571.6M
YoY Change 126.6% 16.81% 483.67%

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CY2022Q2 us-gaap Preferred Stock Redemption Premium
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CY2021Q2 us-gaap Preferred Stock Redemption Premium
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us-gaap Preferred Stock Redemption Premium
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us-gaap Preferred Stock Redemption Premium
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CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2021Q2 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
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us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
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us-gaap Amortization Of Financing Costs
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us-gaap Gains Losses On Extinguishment Of Debt Before Write Off Of Deferred Debt Issuance Cost
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
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us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
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nog Gain Loss On Contingent Consideration
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nog Gain Loss On Contingent Consideration
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
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us-gaap Increase Decrease In Interest Payable Net
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Explore And Develop Oil And Gas Properties
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us-gaap Payments To Explore And Develop Oil And Gas Properties
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nog Payments For Acquisition Deposit
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us-gaap Payments To Acquire Other Property Plant And Equipment
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us-gaap Payments To Acquire Other Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Lines Of Credit
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us-gaap Proceeds From Lines Of Credit
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Repayments Of Lines Of Credit
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us-gaap Repayments Of Subordinated Debt
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us-gaap Repayments Of Unsecured Debt
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Proceeds From Issuance Of Unsecured Debt
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550000000 usd
us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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3415000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9519000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1428000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1471000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4843000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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1499000 usd
CY2022Q1 nog Stock Issued During Period Value Restricted Stock Award Surrenders Tax Obligations
StockIssuedDuringPeriodValueRestrictedStockAwardSurrendersTaxObligations
2206000 usd
CY2022Q1 nog Stock Issued During Period Value Warrants Issued
StockIssuedDuringPeriodValueWarrantsIssued
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CY2022Q1 nog Stock Repurchased During Period Value Preferred Stock
StockRepurchasedDuringPeriodValuePreferredStock
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CY2022Q1 us-gaap Dividends Common Stock
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10815000 usd
CY2022Q1 us-gaap Net Income Loss
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CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1490000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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CY2022Q2 us-gaap Stock Repurchased During Period Value
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CY2022Q2 nog Stock Repurchased During Period Value Preferred Stock
StockRepurchasedDuringPeriodValuePreferredStock
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CY2022Q2 us-gaap Dividends Preferred Stock
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CY2022Q2 us-gaap Dividends Common Stock
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15071000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
251264000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
152650000 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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916000 usd
CY2021Q1 nog Stock Issued During Period Value Restricted Stock Award Surrenders Tax Obligations
StockIssuedDuringPeriodValueRestrictedStockAwardSurrendersTaxObligations
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CY2021Q1 us-gaap Stock Issued During Period Value New Issues
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CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
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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
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CY2021Q2 us-gaap Stock Issued During Period Value New Issues
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CY2021Q2 nog Stock Issued During Period Value Warrants Issued
StockIssuedDuringPeriodValueWarrantsIssued
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CY2021Q2 nog Stock Issued During Period Value Contingent Consideration Settlements
StockIssuedDuringPeriodValueContingentConsiderationSettlements
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CY2021Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
22002000 usd
CY2021Q2 us-gaap Dividends Common Stock
DividendsCommonStock
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CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-90563000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
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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 New York Stock Exchange 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%">The Company’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%">Management’s estimates and assumptions were based on historical data and consideration of future market conditions. Given the uncertainty inherent in any projection, 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.</span></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Reclassifications</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span>Certain prior period balances in the condensed statements of cash flows have been reclassified to conform to the current year presentation. Such reclassifications had no impact on net income (loss), cash flows or stockholders’ equity (deficit) previously reported.
CY2022Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2810000 usd
CY2022Q2 nog Revenuefrom Contractwith Customer Numberof Revenue Sources
RevenuefromContractwithCustomerNumberofRevenueSources
2 revenuesource
CY2022Q2 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 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 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 the Company’s portfolio to include New Mexico, Pennsylvania and Texas. 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>
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
251264000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
44704000 usd
us-gaap Net Income Loss
NetIncomeLoss
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CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3719000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
5826000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
7550000 usd
CY2022Q2 us-gaap Preferred Stock Redemption Premium
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10363000 usd
CY2021Q2 us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
0 usd
us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
25320000 usd
us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
0 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
238091000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-94282000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13558000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-188470000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77366704 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60694795 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77145851 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57633454 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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9421761 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1649981 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86788465 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60694795 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78795832 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57633454 shares
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.08
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.55
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.27
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.74
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.27
us-gaap Interest Paid Net
InterestPaidNet
32997000 usd
us-gaap Interest Paid Net
InterestPaidNet
26547000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
1652000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
158969000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
101018000 usd
nog Capitalized Asset Retirement Obligations
CapitalizedAssetRetirementObligations
1954000 usd
nog Capitalized Asset Retirement Obligations
CapitalizedAssetRetirementObligations
7982000 usd
us-gaap Asset Acquisition Consideration Transferred Contingent Consideration
AssetAcquisitionConsiderationTransferredContingentConsideration
0 usd
us-gaap Asset Acquisition Consideration Transferred Contingent Consideration
AssetAcquisitionConsiderationTransferredContingentConsideration
354000 usd
nog Compensation Capitalizedon Oiland Gas Properties
CompensationCapitalizedonOilandGasProperties
122000 usd
nog Compensation Capitalizedon Oiland Gas Properties
CompensationCapitalizedonOilandGasProperties
219000 usd
nog Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Warrants Issued Value
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationWarrantsIssuedValue
17870000 usd
nog Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Warrants Issued Value
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationWarrantsIssuedValue
30512000 usd
nog Warrants Issued
WarrantsIssued
17870000 usd
nog Warrants Issued
WarrantsIssued
30512000 usd
us-gaap Stock Issued1
StockIssued1
76904000 usd
us-gaap Stock Issued1
StockIssued1
0 usd
nog Dividends Declared Common Stock
DividendsDeclaredCommonStock
25887000 usd
nog Dividends Declared Common Stock
DividendsDeclaredCommonStock
1985000 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
CY2021Q2 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
CY2022Q2 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
nog Asset Acquisition Pro Forma Net Income Loss
AssetAcquisitionProFormaNetIncomeLoss
-167133000 usd
nog Asset Acquisition Pro Forma Revenue
AssetAcquisitionProFormaRevenue
428345000 usd
CY2021Q2 nog Asset Acquisition Pro Forma Revenue
AssetAcquisitionProFormaRevenue
64997000 usd
nog Asset Acquisition Pro Forma Revenue
AssetAcquisitionProFormaRevenue
118083000 usd
nog Asset Acquisition Pro Forma Net Income Loss
AssetAcquisitionProFormaNetIncomeLoss
58037000 usd
CY2021Q2 nog Asset Acquisition Pro Forma Net Income Loss
AssetAcquisitionProFormaNetIncomeLoss
-64786000 usd
nog Anticipated Timing Of Inclusion Of Cost In Amortization Calculation
AnticipatedTimingOfInclusionOfCostInAmortizationCalculation
P5Y
CY2022Q2 nog Lease Amount Expired
LeaseAmountExpired
600000 usd
CY2021Q2 nog Lease Amount Expired
LeaseAmountExpired
500000 usd
nog Lease Amount Expired
LeaseAmountExpired
1900000 usd
nog Lease Amount Expired
LeaseAmountExpired
600000 usd
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
13343000 usd
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1103625000 usd
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
805000000 usd
CY2022Q2 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-11931000 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-13217000 usd
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
13343000 usd
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
14780000 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
1102214000 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
803437000 usd
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
135000000 shares
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
79223724 shares
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
79223724 shares
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.14
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.19
us-gaap Preferred Stock Amount Of Preferred Dividends In Arrears
PreferredStockAmountOfPreferredDividendsInArrears
1400000 usd
CY2011Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
150000000 usd
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
447051 shares
CY2022Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
447051 shares
CY2021Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
us-gaap Costs Incurred Asset Retirement Obligation Incurred
CostsIncurredAssetRetirementObligationIncurred
500000 usd
CY2022Q2 nog Derivative Gain Loss On Derivative Net Settled Commodity Derivatives
DerivativeGainLossOnDerivativeNetSettledCommodityDerivatives
-162314000 usd
CY2021Q2 nog Derivative Gain Loss On Derivative Net Settled Commodity Derivatives
DerivativeGainLossOnDerivativeNetSettledCommodityDerivatives
-27855000 usd
nog Derivative Gain Loss On Derivative Net Settled Commodity Derivatives
DerivativeGainLossOnDerivativeNetSettledCommodityDerivatives
-267475000 usd
nog Derivative Gain Loss On Derivative Net Settled Commodity Derivatives
DerivativeGainLossOnDerivativeNetSettledCommodityDerivatives
-35152000 usd
CY2022Q2 nog Derivative Gain Loss On Derivative Net Unsettled Commodity Derivatives
DerivativeGainLossOnDerivativeNetUnsettledCommodityDerivatives
54117000 usd
CY2021Q2 nog Derivative Gain Loss On Derivative Net Unsettled Commodity Derivatives
DerivativeGainLossOnDerivativeNetUnsettledCommodityDerivatives
-173057000 usd
nog Derivative Gain Loss On Derivative Net Unsettled Commodity Derivatives
DerivativeGainLossOnDerivativeNetUnsettledCommodityDerivatives
-330110000 usd
nog Derivative Gain Loss On Derivative Net Unsettled Commodity Derivatives
DerivativeGainLossOnDerivativeNetUnsettledCommodityDerivatives
-301695000 usd
CY2022Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-108197000 usd
CY2021Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-200912000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-597585000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-336847000 usd
CY2022Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
20081000 usd
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
15719000 usd
CY2022Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
626040000 usd
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
293383000 usd
CY2022Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
20081000 usd
CY2022Q2 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
11837000 usd
CY2022Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
8244000 usd
CY2022Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
626040000 usd
CY2022Q2 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
11837000 usd
CY2022Q2 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
614203000 usd
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
15719000 usd
CY2021Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
11337000 usd
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
4382000 usd
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
293383000 usd
CY2021Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
11337000 usd
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
282045000 usd

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