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Northern Oil & Gas (NOG) operating margin by quarter

Northern Oil & Gas' operating margin was 47.3% in Q2 2026 (second quarter 2026), +22.4 pts from Q2 2025. Over the last 3 quarters it ranged from 24.9% (Q2 2025) to 47.3% (Q2 2026).

Northern Oil & Gas operating margin by quarterNorthern Oil & Gas operating margin by quarter38.1%Q1 202524.9%Q2 202547.3%Q2 2026
QuarterOperating marginQ/QY/Y
Q2 202647.3%+22.4 pts+22.4 pts
Q2 202524.9%-13.2 pts—
Q1 202538.1%——

Q2 2026 at a glance

Northern Oil & Gas, Q2 2026: revenue $745M (+5% year over year), operating margin 47.3%, net earnings $237M, operating cash flow $322M. The chart follows the revenue to costs, profit and cash.

Questions

What is Northern Oil & Gas' operating margin?

Northern Oil & Gas' operating margin was 47.3% in Q2 2026 (second quarter 2026), +22.4 pts from Q2 2025.

How has Northern Oil & Gas' operating margin changed?

Over the last 3 quarters it ranged from 24.9% (Q2 2025) to 47.3% (Q2 2026).

Q2 2026 results → · How Northern Oil & Gas makes money →