Northern Oil and Gas announces preliminary Q4 2025 results with $260-$270M non-cash impairment

NORTHERN OIL & GAS, INC.

2025-FY EPS reported $0.39 revenue$2,475,723,000

Preliminary Q4 2025 non-cash impairment charge of $260-$270 million under full cost ceiling test due to lower oil prices.
Record 33 ground game transactions in Q4 deployed ~$77M, adding 1.2 net wells and over 6,000 net acres.
Estimated unrealized mark-to-market gains on derivatives of $84-$88 million in Q4.
Realized hedge gains estimated at $70-$72 million driven by natural gas, crude oil and basis hedges.
Added hedges for 2026: over 45,000 bbl/day oil hedged for H1 2026 and over 40,000 bbl/day for full year.

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