2023 Q2 Form 10-Q Financial Statement

#000110448523000096 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $476.6M $582.2M $370.4M
YoY Change 7.95% -1868.04% 16.04%
Cost Of Revenue $121.5M $78.09M $110.5M
YoY Change 87.94% 43.18% 46.09%
Gross Profit $355.1M $504.1M $259.9M
YoY Change -5.77% -676.34% 6.71%
Gross Profit Margin 74.51% 86.59% 70.17%
Selling, General & Admin $12.40M $1.200M $21.83M
YoY Change 53.79% -82.89% 108.68%
% of Gross Profit 3.49% 0.24% 8.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $106.4M $94.62M $77.32M
YoY Change 94.23% 77.9% 80.58%
% of Gross Profit 29.97% 18.77% 29.75%
Operating Expenses $120.3M $96.82M $99.15M
YoY Change 91.34% 60.83% 86.1%
Operating Profit $234.8M $360.6M $160.7M
YoY Change -13.07% -290.7% -15.52%
Interest Expense -$31.97M $30.14M -$24.59M
YoY Change -273.64% 67.68% 60.58%
% of Operating Profit -13.62% 8.36% -15.3%
Other Income/Expense, Net $72.00K -$19.71M $0.00
YoY Change -100.4% 18.09% -100.0%
Pretax Income $206.8M $340.9M $145.0M
YoY Change -18.01% -265.66% -17.1%
Income Tax $39.01M $692.0K -$27.00K
% Of Pretax Income 18.86% 0.2% -0.02%
Net Earnings $167.8M $340.2M $133.3M
YoY Change -33.21% -264.69% -23.72%
Net Earnings / Revenue 35.21% 58.43% 35.99%
Basic Earnings Per Share $1.89 $4.01
Diluted Earnings Per Share $1.88 $3.98 $1.56
COMMON SHARES
Basic Shares Outstanding 85.36M shares 85.27M shares 77.87M shares
Diluted Shares Outstanding 89.11M shares 85.41M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.81M $6.073M $2.528M
YoY Change 906.46% 82.1% -73.44%
Cash & Equivalents $14.81M $6.073M $2.528M
Short-Term Investments
Other Short-Term Assets $105.4M $115.5M $46.28M
YoY Change 415.08% 416.25% 277.67%
Inventory
Prepaid Expenses
Receivables $265.0M $274.4M $271.3M
Other Receivables $495.0K $0.00 $338.0K
Total Short-Term Assets $385.8M $395.9M $320.5M
YoY Change 0.77% 22.41% 48.84%
LONG-TERM ASSETS
Property, Plant & Equipment $3.217B $2.916B $2.483B
YoY Change 81.62% 72.59% 98.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $62.02M $16.49M $16.22M
YoY Change 274.6% 50.11% 38.83%
Total Long-Term Assets $3.279B $2.947B $2.555B
YoY Change 81.22% 73.25% 95.38%
TOTAL ASSETS
Total Short-Term Assets $385.8M $395.9M $320.5M
Total Long-Term Assets $3.279B $2.947B $2.555B
Total Assets $3.665B $3.343B $2.875B
YoY Change 67.17% 65.12% 88.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $154.0M $134.3M $128.6M
YoY Change 8.95% 32.02% 96.42%
Accrued Expenses $207.7M $162.1M $121.7M
YoY Change 62.76% 17.79% 15.29%
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 $378.8M $345.3M $345.0M
YoY Change -40.44% -44.8% 5.32%
LONG-TERM LIABILITIES
Long-Term Debt $1.673B $1.757B $1.525B
YoY Change 51.74% 56.94% 89.86%
Other Long-Term Liabilities $167.1M $3.042M $2.045M
YoY Change 7545.11% 32.03% -34.24%
Total Long-Term Liabilities $1.840B $3.042M $2.045M
YoY Change 84057.04% 32.03% -99.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $378.8M $345.3M $345.0M
Total Long-Term Liabilities $1.840B $3.042M $2.045M
Total Liabilities $2.249B $2.295B $2.130B
YoY Change 10.27% 11.41% 62.87%
SHAREHOLDERS EQUITY
Retained Earnings -$492.8M -$660.6M -$1.001B
YoY Change -71.51% -66.65% -43.59%
Common Stock $1.909B $1.709B $487.0K
YoY Change 1.41% -12.16% -99.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.416B $1.048B $745.3M
YoY Change
Total Liabilities & Shareholders Equity $3.665B $3.343B $2.875B
YoY Change 67.17% 65.12% 88.8%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $167.8M $340.2M $133.3M
YoY Change -33.21% -264.69% -23.72%
Depreciation, Depletion And Amortization $106.4M $94.62M $77.32M
YoY Change 94.23% 77.9% 80.58%
Cash From Operating Activities $307.8M $269.3M $287.4M
YoY Change 46.4% 74.84% 115.91%
INVESTING ACTIVITIES
Capital Expenditures $372.7M $461.2M $529.7M
YoY Change -435.19% -210.45% -331.36%
Acquisitions
YoY Change
Other Investing Activities -$37.50M -$14.50M
YoY Change 120.59% -64.33%
Cash From Investing Activities -$410.2M -$461.2M -$544.2M
YoY Change 219.99% 10.45% 101.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 111.1M $195.5M 250.3M
YoY Change -232.39% -24.06% 73.75%
NET CHANGE
Cash From Operating Activities 307.8M $269.3M 287.4M
Cash From Investing Activities -410.2M -$461.2M -544.2M
Cash From Financing Activities 111.1M $195.5M 250.3M
Net Change In Cash 8.733M $3.545M -6.602M
YoY Change -568.76% -157.32% -187.86%
FREE CASH FLOW
Cash From Operating Activities $307.8M $269.3M $287.4M
Capital Expenditures $372.7M $461.2M $529.7M
Free Cash Flow -$64.87M -$191.9M -$242.4M
YoY Change -120.18% -133.57% -166.94%

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CY2022Q1 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
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CY2023Q1 nog Gain Loss On Contingent Consideration
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CY2022Q1 nog Gain Loss On Contingent Consideration
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CY2023Q1 us-gaap Share Based Compensation
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CY2022Q1 us-gaap Share Based Compensation
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CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2022Q1 us-gaap Increase Decrease In Accounts Payable
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CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
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CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
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2991000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
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269308000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q1 us-gaap Payments To Explore And Develop Oil And Gas Properties
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CY2022Q1 us-gaap Payments To Explore And Develop Oil And Gas Properties
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417482000 usd
CY2023Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
238000 usd
CY2022Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
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117000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q1 us-gaap Proceeds From Lines Of Credit
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CY2022Q1 us-gaap Proceeds From Lines Of Credit
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CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
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8004000 usd
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2022Q1 us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
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CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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2616000 usd
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2206000 usd
CY2023Q1 us-gaap Payments Of Dividends Common Stock
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25454000 usd
CY2022Q1 us-gaap Payments Of Dividends Common Stock
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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3545000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2528000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9519000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6073000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3335000 usd
CY2022Q4 us-gaap Stockholders Equity
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CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
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CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2023Q1 nog Stock Issued During Period Value Restricted Stock Award Surrenders Tax Obligations
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CY2021Q4 us-gaap Stockholders Equity
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CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2022Q1 nog Stock Issued During Period Value Restricted Stock Award Surrenders Tax Obligations
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CY2022Q1 nog Stock Issued During Period Value Warrants Issued
StockIssuedDuringPeriodValueWarrantsIssued
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StockRepurchasedDuringPeriodValuePreferredStock
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CY2022Q1 us-gaap Dividends Common Stock
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10815000 usd
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NetIncomeLoss
-206560000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2023Q1 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>
CY2023Q1 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.</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>
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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">Reclassifications </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:112%">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.</span></div>
CY2023Q1 nog Revenuefrom Contractwith Customer Numberof Revenue Sources
RevenuefromContractwithCustomerNumberofRevenueSources
2 revenuesource
CY2023Q1 nog Numberof Geographic Areasinwhich Entity Operates
NumberofGeographicAreasinwhichEntityOperates
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CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div><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, 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 majority of its oil and natural gas revenue is sourced from North Dakota. Acquisitions since 2021 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>
CY2023Q1 us-gaap Net Income Loss
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PreferredStockDividendsIncomeStatementImpact
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CY2022Q1 us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
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CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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340191000 usd
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.01
CY2022Q1 us-gaap Earnings Per Share Basic
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CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2022Q1 us-gaap Earnings Per Share Diluted
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CY2023Q1 us-gaap Interest Paid Net
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CY2022Q1 us-gaap Interest Paid Net
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CY2023Q1 us-gaap Income Taxes Paid
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CY2022Q1 us-gaap Income Taxes Paid
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65000 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2023Q1 nog Capitalized Asset Retirement Obligations
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CY2022Q1 nog Capitalized Asset Retirement Obligations
CapitalizedAssetRetirementObligations
1586000 usd
CY2023Q1 nog Compensation Capitalizedon Oiland Gas Properties
CompensationCapitalizedonOilandGasProperties
111000 usd
CY2022Q1 nog Compensation Capitalizedon Oiland Gas Properties
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53000 usd
CY2023Q1 nog Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Warrants Issued Value
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CY2022Q1 nog Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Warrants Issued Value
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CY2023Q1 nog Warrants Issued
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CY2022Q1 nog Warrants Issued
WarrantsIssued
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CY2023Q1 us-gaap Stock Issued1
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13328000 usd
CY2022Q1 us-gaap Stock Issued1
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CY2023Q1 nog Dividends Declared Common Stock
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29021000 usd
CY2022Q1 nog Dividends Declared Common Stock
DividendsDeclaredCommonStock
10815000 usd
CY2023Q1 us-gaap Impairment Of Oil And Gas Properties
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CY2022Q1 us-gaap Impairment Of Oil And Gas Properties
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CY2023Q1 us-gaap Business Combination Consideration Transferred1
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CY2022Q1 nog Asset Acquisition Pro Forma Revenue
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CY2022Q1 nog Asset Acquisition Pro Forma Net Income Loss
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CY2023Q1 nog Anticipated Timing Of Inclusion Of Cost In Amortization Calculation
AnticipatedTimingOfInclusionOfCostInAmortizationCalculation
P5Y
CY2023Q1 nog Lease Amount Expired
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CY2023Q1 us-gaap Debt Instrument Carrying Amount
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CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
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CY2023Q1 us-gaap Deferred Finance Costs Net
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27060000 usd
CY2023Q1 us-gaap Long Term Debt
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CY2022Q4 us-gaap Debt Instrument Carrying Amount
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CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
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CY2022Q4 us-gaap Deferred Finance Costs Net
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CY2022Q4 us-gaap Long Term Debt
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CY2022Q4 us-gaap Asset Acquisition Consideration Transferred
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36100000 usd
CY2022Q4 nog Capped Call Transaction Common Stock Premium Over Share Price Percent
CappedCallTransactionCommonStockPremiumOverSharePricePercent
0.75
CY2023Q1 us-gaap Common Stock Shares Authorized
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135000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
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CY2023Q1 us-gaap Common Stock Shares Outstanding
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CY2023Q1 us-gaap Common Stock Shares Issued
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CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2022Q2 us-gaap Stock Repurchase Program Authorized Amount1
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150000000 usd
CY2023Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
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CY2023Q1 us-gaap Treasury Stock Value Acquired Cost Method
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8000000 usd
CY2022Q1 us-gaap Treasury Stock Shares Acquired
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CY2022Q1 us-gaap Treasury Stock Shares Acquired
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CY2023Q1 us-gaap Costs Incurred Asset Retirement Obligation Incurred
CostsIncurredAssetRetirementObligationIncurred
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CY2023Q1 us-gaap Derivative Fair Value Of Derivative Asset
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175653000 usd
CY2023Q1 us-gaap Derivative Asset Fair Value Gross Liability
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CY2023Q1 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
86650000 usd
CY2023Q1 nog Derivative Gain Loss On Derivative Net Settled Commodity Derivatives
DerivativeGainLossOnDerivativeNetSettledCommodityDerivatives
13670000 usd
CY2023Q1 nog Derivative Gain Loss On Derivative Net Settled Commodity Derivatives
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13670000 usd
CY2022Q1 nog Derivative Gain Loss On Derivative Net Settled Commodity Derivatives
DerivativeGainLossOnDerivativeNetSettledCommodityDerivatives
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CY2023Q1 nog Derivative Gain Loss On Derivative Net Unsettled Commodity Derivatives
DerivativeGainLossOnDerivativeNetUnsettledCommodityDerivatives
139987000 usd
CY2022Q1 nog Derivative Gain Loss On Derivative Net Unsettled Commodity Derivatives
DerivativeGainLossOnDerivativeNetUnsettledCommodityDerivatives
-384227000 usd
CY2023Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
153656000 usd
CY2022Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-489388000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
175653000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
119377000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
273166000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
355860000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
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CY2023Q1 us-gaap Derivative Liability Fair Value Gross Asset
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89002000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
184164000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
119377000 usd
CY2022Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
71537000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
47840000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
355860000 usd
CY2022Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
71537000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
284324000 usd

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0001104485-23-000096-index.html Edgar Link pending
0001104485-23-000096.txt Edgar Link pending
0001104485-23-000096-xbrl.zip Edgar Link pending
exhibit31120230331-10q.htm Edgar Link pending
exhibit31220230331-10q.htm Edgar Link pending
exhibit32120230331-10q.htm Edgar Link pending
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