Northern Oil and Gas, Inc. (NYSE: NOG) issued a press release on October 12, 2026, providing preliminary financial and operational results for the third quarter of 2026. The company reported a clean operational quarter across all basins, with activity accelerating as oil strip prices rallied.
During the quarter, NOG executed 19 deals under its Ground Game strategy, closing on approximately 1,060 net acres and 2.8 net wells. The company deployed approximately $56.5 million in acquisition costs and associated development capital. Capital spending for the third quarter is estimated to be between $250.0 million and $253.0 million, excluding non-budgeted acquisitions. The company noted that capital expenditures are expected to trend lower in the fourth quarter, absent significant non-budgeted activity.
In terms of hedging, NOG reported unrealized mark-to-market losses on derivatives of approximately $300.0 million to $320.0 million. Realized hedge losses were estimated at $51.0 million to $52.0 million, driven by crude oil hedges, partially offset by gas and basis hedges.
Regarding shareholder returns, the company declared a $0.45 quarterly cash dividend on August 4, 2026, payable on October 30, 2026. In the third quarter, NOG repurchased 667,989 shares of common stock for a total of $16.0 million. In July 2026, the Board of Directors authorized a $150.0 million increase to the common stock repurchase program, leaving a remaining capacity of approximately $227.2 million.
The preliminary information included in the release is based on estimates and subject to completion of the company’s financial closing procedures.
