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Northern Oil & Gas vs Mach Natural Resources LP: NOG and MNR compared
Northern Oil & Gas is the larger company: $346M of revenue in its latest quarter (Q3 2026) against $319M for Mach Natural Resources LP (Q3 2026). Mach Natural Resources LP is growing faster (+17% against -38% a year earlier). Mach Natural Resources LP is more profitable, with an operating margin of 11.5% against -22.2%.
Where the money goes: NOG and MNR
Northern Oil & Gas (NOG) · Q3 2026
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.
Mach Natural Resources LP (MNR) · Q3 2026
Mach Natural Resources LP, Q3 2026: revenue $319M (+17% year over year), operating margin 11.5%, net earnings $10.2M, operating cash flow $135M. The chart follows the revenue to costs, profit and cash.
| Northern Oil & Gas (NOG) | Mach Natural Resources LP (MNR) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $346M | $319M |
| Revenue growth, Y/Y | -38% | +17% |
| Operating margin | -22.2% | 11.5% |
| Net earnings | −$112M | $10.2M |
| Net margin | -32.3% | 3.2% |
| Operating cash flow | $398M | $135M |
| Free cash flow | $149M | $30.6M |
| Market value | $2.4B | $1.8B |
| P/E | — | 17.7× |
| Analysts’ mean target | $30.56 | $16.86 |
Questions
Which is bigger, Northern Oil & Gas or Mach Natural Resources LP?
Northern Oil & Gas is the larger company: $346M of revenue in its latest quarter (Q3 2026) against $319M for Mach Natural Resources LP (Q3 2026).
Is Northern Oil & Gas or Mach Natural Resources LP growing faster?
Mach Natural Resources LP is growing faster (+17% against -38% a year earlier).
Which is more profitable, Northern Oil & Gas or Mach Natural Resources LP?
Mach Natural Resources LP is more profitable, with an operating margin of 11.5% against -22.2%.
More: Northern Oil & Gas earnings · how Northern Oil & Gas makes money · Mach Natural Resources LP earnings · how Mach Natural Resources LP makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.