Northern Oil & Gas (NOG) Invested Capital (2009 - 2026)
Northern Oil & Gas (NOG) posted Invested Capital of $4.44 billion for Q3 2026, down 3.3% from $4.59 billion a year earlier and down 5.9% from the prior quarter.
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Analysis
Northern Oil & Gas (NOG) Invested Capital (2009 - 2026) Analysis & Trends
For FY2025, Northern Oil & Gas' Invested Capital came in at $4.52 billion, down 3.6% from FY2024.
- Annual Invested Capital shows a five-year compound annual growth rate of 44.3% (FY2020 to FY2025).
- In prior years, Northern Oil & Gas' Invested Capital was $4.69 billion in FY2024 (+20.8%), $3.88 billion in FY2023 (+71.0%), $2.27 billion in FY2022 (+122.9%) and $1.02 billion in FY2021 (+41.2%).
- Quarterly Invested Capital has run from a low of $1.02 billion in Q4 2021 to a high of $4.78 billion in Q2 2025 over five years.
- On a year-over-year basis, Invested Capital has declined in each of the last four quarters, with growth averaging 6.6% over the last eight quarters.
- The strongest year-over-year quarter for Invested Capital in the past five years was Q3 2022, with growth of 168.1%; the weakest was Q1 2026, with a decline of 8.0%.
- According to Business Quant data, Invested Capital for the three prior quarters was $4.72 billion (Q2 2026), $4.34 billion (Q1 2026) and $4.52 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 696.20 Bn | 661.07 Bn | 47.44 Bn | 306.77 Bn |
| 2 | Shell | 563.81 Bn | 425.16 Bn | - | 266.83 Bn |
| 3 | Chevron | 432.14 Bn | 404.83 Bn | 31.26 Bn | 233.51 Bn |
| 4 | TotalEnergies SE | 200.31 Bn | 75.66 Bn | 31.61 Bn | - |
| 5 | Eni Spa | 181.16 Bn | 124.34 Bn | - | 104.25 Bn |
| 6 | Conocophillips | 168.32 Bn | 137.35 Bn | 12.63 Bn | 89.25 Bn |
| 7 | Equinor Asa | 107.41 Bn | 20.34 Bn | 4.49 Bn | 69.32 Bn |
| 8 | Canadian Natural Resources | 103.54 Bn | 97.44 Bn | 9.35 Bn | - |
| 9 | Phillips 66 | 103.32 Bn | 88.28 Bn | 10.69 Bn | 54.03 Bn |
| 10 | Northern Oil & Gas | 2.66 Bn | 2.53 Bn | 202.42 Mn | 4.44 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 4.44 Bn |
| Jun 30, 2026 | 4.72 Bn |
| Mar 31, 2026 | 4.34 Bn |
| Dec 31, 2025 | 4.52 Bn |
| Sep 30, 2025 | 4.59 Bn |
| Jun 30, 2025 | 4.78 Bn |
| Mar 31, 2025 | 4.71 Bn |
| Dec 31, 2024 | 4.69 Bn |
| Sep 30, 2024 | 4.27 Bn |
| Jun 30, 2024 | 3.94 Bn |
| Mar 31, 2024 | 3.94 Bn |
| Dec 31, 2023 | 3.88 Bn |
| Sep 30, 2023 | 3.47 Bn |
| Jun 30, 2023 | 3.09 Bn |
| Mar 31, 2023 | 2.81 Bn |
| Dec 31, 2022 | 2.27 Bn |
| Sep 30, 2022 | 1.88 Bn |
| Jun 30, 2022 | 1.25 Bn |
| Mar 31, 2022 | 1.08 Bn |
| Dec 31, 2021 | 1.02 Bn |
API Access
Northern Oil & Gas Invested Capital 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=invested-capital&ticker=NOG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=NOG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();