Northern Oil & Gas (NOG) Invested Capital (2010 - 2026)
Northern Oil & Gas (NOG) posted Invested Capital of $4.72 billion for Q2 2026, down 1.2% from $4.78 billion a year earlier but up 8.9% from the prior quarter.
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Analysis
Northern Oil & Gas (NOG) Invested Capital (2010 - 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 $700.71 million in Q3 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 three quarters, with growth averaging 9.9% 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 Q3 2021, with a decline of 22.1%.
- According to Business Quant data, Invested Capital for the three prior quarters was $4.34 billion (Q1 2026), $4.52 billion (Q4 2025) and $4.59 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 674.90 Bn | 638.12 Bn | - | 308.48 Bn |
| 2 | Shell | 547.48 Bn | 458.03 Bn | 30.13 Bn | 247.38 Bn |
| 3 | Chevron | 408.53 Bn | 386.32 Bn | 33.45 Bn | 195.96 Bn |
| 4 | TotalEnergies SE | 186.30 Bn | 69.43 Bn | - | 33.10 Bn |
| 5 | Eni Spa | 172.32 Bn | 121.84 Bn | - | 102.84 Bn |
| 6 | Conocophillips | 152.28 Bn | 124.99 Bn | 12.81 Bn | 88.64 Bn |
| 7 | Equinor Asa | 106.44 Bn | 52.50 Bn | - | - |
| 8 | Phillips 66 | 105.58 Bn | 94.57 Bn | 8.38 Bn | 53.27 Bn |
| 9 | Canadian Natural Resources | 100.85 Bn | 97.81 Bn | - | 20.96 Bn |
| 10 | Northern Oil & Gas | 2.54 Bn | 2.41 Bn | 618.15 Mn | 4.72 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| 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 |
| Sep 30, 2021 | 700.71 Mn |
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();