NOG flags $300 million to $320 million in Q3 unrealized hedge losses in preliminary update
Northern Oil and Gas (NOG) issued a preliminary third quarter 2026 operational update on October 12, 2026, reporting clean operations and an expected $250.0 million to $253.0 million in third quarter capital expenditures. The company also expects large derivative losses, with unrealized mark-to-market losses of $300 million to $320 million and realized hedge losses of $51 million to $52 million, and the figures remain subject to final closing procedures.
Key points
- Expected third quarter unrealized mark-to-market losses on derivatives of $300 million to $320 million, with realized hedge losses of $51 million to $52 million.
- Expected third quarter capital expenditures of $250.0 million to $253.0 million, excluding non-budgeted acquisitions; the company reiterated its 2026 capital guidance and expects spending toward the higher end of the range.
- Repurchased 667,989 shares for $16.0 million in the third quarter at an average of $23.96 per share; about $227.2 million remains under the buyback program after a $150.0 million increase authorized in July 2026.
- Declared a $0.45 quarterly cash dividend on August 4, 2026, payable October 30, 2026.
The filing
Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 13, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.