Northern Oil & Gas (NOG) Debt Ratio (2011 - 2026)
Northern Oil & Gas' (NOG) Debt Ratio was 0.47 for Q2 2026, up 12.7% from 0.41 a year earlier and up 1.1% from the prior quarter.
Powered by 
Analysis
Northern Oil & Gas (NOG) Debt Ratio (2011 - 2026) Analysis & Trends
For FY2025, Debt Ratio at Northern Oil & Gas was 0.44, up 4.7% from FY2024.
- By year, Debt Ratio came in at 0.42 in FY2024 (+3.3%), 0.41 in FY2023 (-22.8%), 0.53 in FY2022 (+0.6%) and 0.53 in FY2021 (-51.3%).
- The Q2 2026 figure ranks as the highest quarterly Debt Ratio since Q3 2023.
- Year over year, Debt Ratio has now increased in each of the last five quarters, with growth averaging 3.4% over the last eight quarters.
- The high point for year-over-year Debt Ratio in five years was Q1 2026 (growth of 13.6%); the low point was Q4 2021 (a decline of 51.3%).
- Per Business Quant data, the three quarters before Q2 2026 came in at 0.46 (Q1 2026), 0.44 (Q4 2025) and 0.43 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 548.90 Bn | 459.45 Bn | 30.13 Bn | 0.17 |
| 2 | Chevron | 407.58 Bn | 385.38 Bn | 33.45 Bn | 0.00 |
| 3 | TotalEnergies SE | 199.37 Bn | 82.49 Bn | - | 0.11 |
| 4 | Eni Spa | 174.90 Bn | 124.42 Bn | - | 0.21 |
| 5 | Conocophillips | 151.32 Bn | 124.03 Bn | 12.81 Bn | 0.19 |
| 6 | Equinor Asa | 105.71 Bn | 51.77 Bn | - | - |
| 7 | Phillips 66 | 101.18 Bn | 90.17 Bn | 8.38 Bn | 0.25 |
| 8 | Canadian Natural Resources | 99.04 Bn | 95.99 Bn | - | - |
| 9 | Suncor Energy | 82.08 Bn | 67.87 Bn | - | 0.10 |
| 10 | Northern Oil & Gas | 2.47 Bn | 2.34 Bn | 618.15 Mn | 0.47 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.47 |
| Mar 31, 2026 | 0.46 |
| Dec 31, 2025 | 0.44 |
| Sep 30, 2025 | 0.43 |
| Jun 30, 2025 | 0.41 |
| Mar 31, 2025 | 0.41 |
| Dec 31, 2024 | 0.42 |
| Sep 30, 2024 | 0.39 |
| Jun 30, 2024 | 0.40 |
| Mar 31, 2024 | 0.42 |
| Dec 31, 2023 | 0.41 |
| Sep 30, 2023 | 0.48 |
| Jun 30, 2023 | 0.46 |
| Mar 31, 2023 | 0.53 |
| Dec 31, 2022 | 0.53 |
| Sep 30, 2022 | 0.47 |
| Jun 30, 2022 | 0.50 |
| Mar 31, 2022 | 0.55 |
| Dec 31, 2021 | 0.53 |
| Sep 30, 2021 | 0.69 |
API Access
Northern Oil & Gas Debt Ratio API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=debt-ratio&ticker=NOG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "ticker": "NOG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=debt-ratio&ticker=NOG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();