Northern Oil and Gas Reports Mixed Q3 2025 Results

Northern Oil And Gas ( (NOG) ) has released its Q3 earnings. Here is a breakdown of the information Northern Oil And Gas presented to its investors.

Northern Oil and Gas, Inc. is a real asset company focused on acquiring and investing in non-operated minority working and mineral interests in premier hydrocarbon-producing basins across the contiguous United States.

In its third quarter of 2025, Northern Oil and Gas reported a mixed financial performance, with an increase in production but a GAAP net loss due to a significant non-cash impairment charge. The company also reported adjustments in its capital expenditure and production guidance for the year.

Key financial highlights include a total quarterly production of 131,054 Boe per day, marking an 8% increase from the previous year. Despite this, the company recorded a GAAP net loss of $129.1 million, primarily due to a $318.7 million non-cash impairment charge. Adjusted EBITDA stood at $387.1 million, a 6% decrease from the previous year, while adjusted net income was $101.8 million. The company generated $118.9 million in free cash flow and completed several strategic acquisitions and transactions to enhance its asset base.

The company also issued $725 million in senior notes to extend its debt maturity and amended its revolving credit facility to reduce borrowing costs. Additionally, Northern Oil and Gas raised its annual production guidance and tightened its capital expenditure guidance, reflecting its strategic focus on optimizing operations and enhancing shareholder value.

Looking ahead, Northern Oil and Gas remains focused on leveraging its resilient portfolio and strategic acquisitions to navigate volatile market conditions. The company is committed to generating solid cash flow and maintaining strong financial protection through hedges, positioning itself for long-term growth and value creation for its investors.