Northern Oil and Gas Q4 revenue falls on weaker oil pricing

Northern Oil and Gas

25/02/2026 21:52

Overview

U.S. oil and gas firm's Q4 revenue fell due to weaker oil pricing

Adjusted EBITDA for Q4 was $366.5 mln

Company repurchased 326,301 shares at $21.47 each in Q4

Outlook

Northern Oil and Gas projects 2026 production at 139,000-148,000 Boe per day

Company expects 2026 capital expenditures between $850 mln and $1.1 bln

Northern Oil and Gas anticipates 67.5-87 net wells turned-in-line in 2026

Result Drivers

PRODUCTION INCREASE - Q4 production rose 6% year-over-year, driven by a 24% increase in natural gas output

ASSET EXPANSION - NOG expanded its asset base through value-accretive acquisitions, including a major Ohio Utica transaction

BALANCE SHEET IMPROVEMENTS - Co strengthened balance sheet by extending debt maturities and enhancing liquidity

Company press release: ID:nBw6YHcLFa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Oil & Gas Sales
$447.7 mln
Q4 Adjusted Net Income
$82 mln
Q4 Net Income
-$70.7 mln
Q4 Adjusted EBITDA
$366.5 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Wall Street's median 12-month price target for Northern Oil and Gas Inc is $29.50, about 8.5% above its February 24 closing price of $27.18

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 7 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)