---
schema_version: "secwatch.filing_event.v1"
accession: "0001104485-25-000135"
form_type: "8-K"
ticker: "NOG"
cik: "0001104485"
company_name: "NORTHERN OIL & GAS, INC."
filed_at: "2025-07-24T23:59:59+00:00"
generated_at: "2026-05-18T01:58:44.781132+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NOG Q2 update: $65-70M hedging gains, $112-120M impairment, $81.7M legal settlement, 22 ground game deals

## Summary
- Unrealized mark-to-market derivative gains of $65-70M; realized hedge gains of $58-63M for Q2 2025.
- Non-cash impairment charge of $112-120M under full-cost ceiling test due to lower oil prices.
- 22 ground game transactions added 4.8 net wells and ~2,600 net acres for $23.8M initial capital.
- Legal settlement with ND operator yields ~$81.7M revenue; net cash of $48.6M expected in Q3 2025.
- Hedge positions: >50,000 bbl/d oil and >200 MMBtu/d gas hedged for H2 2025.

## SEC filing metadata
- accession: 0001104485-25-000135
- form_type: 8-K
- ticker: NOG
- cik: 0001104485
- company_name: NORTHERN OIL & GAS, INC.
- filed_at: 2025-07-24T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1104485/000110448525000135/0001104485-25-000135-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1104485/000110448525000135/nog-20250724.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104485-25-000135
- JSON: https://secwatch.observer/filing/0001104485-25-000135.json
- Plain text: https://secwatch.observer/filing/0001104485-25-000135.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.