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Northern Oil & Gas (NOG) guidance and outlook
Northern Oil & Gas (NOG) raised some and lowered other parts of its guidance on Nov 5, 2026: Capital expenditures $850M–$900M for FY2026; Operating expenses $9.7M–$9.8M for FY2026; Revenue +7.5% to +8% for FY2026. Northern Oil & Gas' 10-Q filed Nov 6, 2026 makes 14 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Capital expenditures | FY2026 | $850M–$900M | reaffirmed |
| Operating expenses | FY2026 | $9.7M–$9.8M | lowered |
| Revenue | FY2026 | +7.5% to +8% | reaffirmed |
From the earnings release filed Nov 5, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 6, 2026
- • our ability to identify and consummate additional development opportunities and potential or pending acquisition transactions, the projected capital efficiency savings and other operating efficiencies and synergies resulting from our acquisition transactions, integration and benefits of property acquisitions, or the effects of such acquisitions on our company’s cash position and levels of indebtedness;
- • risks associated with our Convertible Notes, including the potential impact that the Convertible Notes may have on our financial position and liquidity, potential dilution, and that provisions of the Convertible Notes could delay or prevent a beneficial takeover of our company;
- If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected.
- We expect our derivative activities will help us achieve more predictable cash flows and reduce our exposure to downward price fluctuations.
- As applicable, the calculations of both our Oil Price Differential and Gas Price Differential include certain immaterial non-cash revenue adjustments intended to reflect current period economic conditions.
- We record our income taxes in accordance with accounting for income taxes under GAAP, which results in the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax basis of assets and liabilities.
- We have entered into derivative contracts to hedge commodity price risks on a portion of our future expected oil and natural gas production.
- Any gains on our unsettled commodity derivatives are expected to be offset by lower wellhead revenues in the future, while any losses are expected to be offset by higher future wellhead revenues based on the value at the settlement date.
- We seek to maintain a robust hedging program to mitigate volatility in commodity prices with respect to a portion of our expected production.
- With our cash on hand, cash flow from operations, and borrowing capacity under our Revolving Credit Facility, we believe that we will have sufficient cash flow and liquidity to fund our budgeted capital expenditures and operating expenses for at least the next twelve months and, based on current expectations, for the foreseeable future.
- We cannot assure you, however, that any additional capital will be available to us on favorable terms or at all.
- We expect to fund our near-term capital requirements and working capital needs with cash flows from operations and available borrowing capacity under our Revolving Credit Facility.
Northern Oil & Gas' latest quarter
Northern Oil & Gas, Q3 2026: revenue $346M (-38% year over year), operating margin -22.2%, net loss $112M, operating cash flow $398M. The chart follows the revenue to costs, profit and cash.
Questions
Did Northern Oil & Gas raise or lower its guidance?
Northern Oil & Gas (NOG) raised some and lowered other parts of its guidance on Nov 5, 2026: Capital expenditures $850M–$900M for FY2026; Operating expenses $9.7M–$9.8M for FY2026; Revenue +7.5% to +8% for FY2026.
What does Northern Oil & Gas expect?
• our ability to identify and consummate additional development opportunities and potential or pending acquisition transactions, the projected capital efficiency savings and other operating efficiencies and synergies resulting from our acquisition transactions, integration and benefits of property acquisitions, or the effects of such acquisitions on our company’s cash position and levels of indebtedness; • risks associated with our Convertible Notes, including the potential impact that the Convertible Notes may have on our financial position and liquidity, potential dilution, and that provisio
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.