Northern Oil & Gas (NOG) Operating Expenses (2011 - 2026)
Northern Oil & Gas (NOG) posted quarterly Operating Expenses of $659.9 million for Q1 2026, up 77.01% year-over-year from $372.8 million in Q1 2025, and up 2.47% quarter-over-quarter from $644.0 million in Q4 2025.
Northern Oil & Gas (NOG) Operating Expenses (2011 - 2026) Analysis & Trends
Northern Oil & Gas' Operating Expenses history runs 16 years deep, the most recent figure standing at $659.9 million for Q1 2026.
- In Q1 2026, Operating Expenses rose 77.01% year-over-year to $659.9 million; the TTM figure through Mar 2026 stood at $2.5 billion (up 77.67% YoY), while the FY2025 annual figure was $2.2 billion, up 60.67% from the prior year.
- Operating Expenses for Q1 2026 stood at $659.9 million, up from $644.0 million in the prior quarter.
- The five-year high for Operating Expenses was $682.4 million in Q3 2025, with the low at $156.2 million in Q1 2022.
- The 5-year median for Operating Expenses is $319.7 million (2024), against an average of $355.3 million.
- Peak annual rise in Operating Expenses reached 113.45% in 2025, while the deepest fall reached 8.37% in 2025.
- Northern Oil & Gas' Operating Expenses stood at $202.8 million in 2022, then surged by 52.57% to $309.5 million in 2023, then advanced by 23.55% to $382.3 million in 2024, then surged by 68.44% to $644.0 million in 2025, then gained by 2.47% to $659.9 million in 2026.
- Business Quant data shows NOG's Operating Expenses at $659.9 million in Q1 2026, $644.0 million in Q4 2025, and $682.4 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 164.02 Bn | 156.33 Bn | 12.81 Bn | 2.43 Bn |
| 2 | Canadian Natural Resources | 106.64 Bn | 104.75 Bn | 10.66 Bn | 114.95 Mn |
| 3 | Eog Resources | 80.34 Bn | 75.43 Bn | - | 5.09 Bn |
| 4 | Diamondback Energy | 59.28 Bn | 58.82 Bn | 5.55 Bn | 3.05 Bn |
| 5 | Woodside Energy | 46.13 Bn | 40.19 Bn | 6.02 Bn | - |
| 6 | Devon Energy | 46.13 Bn | 45.12 Bn | 6.02 Bn | 5.03 Bn |
| 7 | Occidental Petroleum | 39.39 Bn | 35.24 Bn | 7.73 Bn | 4.55 Bn |
| 8 | Eqt | 33.76 Bn | 33.65 Bn | 1.42 Bn | 1.42 Bn |
| 9 | Texas Pacific Land | 26.55 Bn | 26.30 Bn | - | 54.24 Mn |
| 10 | Northern Oil & Gas | 2.88 Bn | 2.80 Bn | 618.15 Mn | 392.70 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 392.70 Mn |
| Mar 31, 2026 | 659.91 Mn |
| Dec 31, 2025 | 644.02 Mn |
| Sep 30, 2025 | 682.40 Mn |
| Jun 30, 2025 | 530.64 Mn |
| Mar 31, 2025 | 372.82 Mn |
| Dec 31, 2024 | 382.34 Mn |
| Sep 30, 2024 | 319.70 Mn |
| Jun 30, 2024 | 341.83 Mn |
| Mar 31, 2024 | 344.03 Mn |
| Dec 31, 2023 | 309.47 Mn |
| Sep 30, 2023 | 271.54 Mn |
| Jun 30, 2023 | 241.76 Mn |
| Mar 31, 2023 | 221.63 Mn |
| Dec 31, 2022 | 202.84 Mn |
| Sep 30, 2022 | 187.00 Mn |
| Jun 30, 2022 | 171.34 Mn |
| Mar 31, 2022 | 156.15 Mn |
| Dec 31, 2021 | 128.90 Mn |
| Sep 30, 2021 | 104.54 Mn |