Northern Oil and Gas

(NOG)

Crude oil-primary · Multi-basin · 43 hedge positions disclosed

As of 10-Q 2026-08-07 · Aug 7, 2026.

Northern Oil and Gas may have added, unwound, or restructured hedges since this filing, and the changes won't appear here until their next quarterly disclosure. Treat all numbers below as a point-in-time snapshot. View source on SEC EDGAR →

Equity Market Cap

$4.5B

Production /d

627

MBoe or MMcfe per filing

% Natural Gas

50%

FCF Breakeven

$30.00

$/Boe

Uses three-way collarsHedges NGLs

Estimated value of hedges vs current strip

-$32Mout of the money vs current forward curve

BoxWood estimate, intrinsic value of the disclosed WTI + Henry Hub positions marked against the Sep 3, 2026 CME forward curve. Positive = locked in above today's market. This is an estimate from public data, not Northern Oil and Gas's own mark. It excludes basis, option time value, SOFR discounting, and the positions themselves may have changed since the filing.

Crude Oil hedge shape

Blended protection by quarter · $/Bbl

Blended collar (floor to ceiling) Avg hedge price

Swaps and collars volume-weighted into one effective collar · a swap is a floor equal to its ceiling.

Hedged volume by quarter · bbls/d

Sum of disclosed daily hedge volume active in each quarter.

Natural Gas hedge shape

Blended protection by quarter · $/MMBtu

Blended collar (floor to ceiling) Avg hedge price

Swaps and collars volume-weighted into one effective collar · a swap is a floor equal to its ceiling.

Hedged volume by quarter · MMBtu/d

Sum of disclosed daily hedge volume active in each quarter.

Crude Oil positions

Type	Period	Volume	Price level
Swap	Jul 2026 - Sep 2026	18,245 bbls/d	$67.55
Swap	Oct 2026 - Dec 2026	16,245 bbls/d	$67.62
Swap	Jan 2027 - Mar 2027	7,750 bbls/d	$69.47
Swap	Apr 2027 - Jun 2027	7,750 bbls/d	$69.47
Swap	Jul 2027 - Sep 2027	5,500 bbls/d	$70.50
Swap	Oct 2027 - Dec 2027	5,500 bbls/d	$70.50
Swap	Jan 2028 - Mar 2028	500 bbls/d	$70.04
Swap	Apr 2028 - Jun 2028	500 bbls/d	$70.04
Swap	Jul 2028 - Sep 2028	500 bbls/d	$70.04
Swap	Oct 2028 - Dec 2028	500 bbls/d	$70.04
Swap	Jan 2029 - Mar 2029	500 bbls/d	$70.04
Swap	Apr 2029 - Jun 2029	500 bbls/d	$70.04
Swap	Jul 2029 - Sep 2029	500 bbls/d	$70.04
Swap	Oct 2029 - Dec 2029	500 bbls/d	$70.04
Collar	Jul 2026 - Sep 2026	21,437 bbls/d	$47.22 / $62.34 × $71.44
Collar	Oct 2026 - Dec 2026	21,437 bbls/d	$47.22 / $62.34 × $71.44
Collar	Jan 2027 - Mar 2027	9,250 bbls/d	$45.00 / $61.14 × $73.76
Collar	Jul 2027 - Sep 2027	4,263 bbls/d	$45.00 / $67.97 × $75.31
Collar	Oct 2027 - Dec 2027	3,000 bbls/d	$64.03 × $76.37

Natural Gas positions

Type	Period	Volume	Price level
Swap	Jul 2026 - Sep 2026	116,685 MMBtu/d	$4.02
Swap	Oct 2026 - Dec 2026	135,054 MMBtu/d	$4.16
Swap	Jan 2027 - Mar 2027	89,056 MMBtu/d	$4.01
Swap	Apr 2027 - Jun 2027	90,989 MMBtu/d	$4.00
Swap	Jul 2027 - Sep 2027	90,000 MMBtu/d	$4.00
Swap	Oct 2027 - Dec 2027	71,413 MMBtu/d	$3.96
Swap	Jan 2028 - Mar 2028	28,077 MMBtu/d	$3.83
Swap	Apr 2028 - Jun 2028	20,220 MMBtu/d	$3.83
Swap	Jul 2028 - Sep 2028	20,000 MMBtu/d	$3.83
Swap	Oct 2028 - Dec 2028	16,630 MMBtu/d	$3.85
Collar	Jul 2026 - Sep 2026	150,486 MMBtu/d	$3.45 × $4.89
Collar	Oct 2026 - Dec 2026	150,105 MMBtu/d	$3.47 × $5.06
Collar	Jan 2027 - Mar 2027	77,389 MMBtu/d	$3.46 × $4.79
Collar	Apr 2027 - Jun 2027	65,714 MMBtu/d	$3.45 × $4.43
Collar	Jul 2027 - Sep 2027	65,000 MMBtu/d	$3.45 × $4.43
Collar	Oct 2027 - Dec 2027	46,467 MMBtu/d	$3.45 × $4.41
Collar	Jan 2028 - Mar 2028	9,890 MMBtu/d	$3.50 × $4.17
Collar	Apr 2028 - Jun 2028	10,110 MMBtu/d	$3.50 × $4.17
Collar	Jul 2028 - Sep 2028	10,000 MMBtu/d	$3.50 × $4.17
Collar	Oct 2028 - Dec 2028	10,000 MMBtu/d	$3.50 × $4.07
Collar	Jan 2029 - Mar 2029	9,889 MMBtu/d	$3.50 × $3.88
Collar	Apr 2029 - Jun 2029	10,110 MMBtu/d	$3.50 × $3.88
Collar	Jul 2029 - Sep 2029	10,000 MMBtu/d	$3.50 × $3.88
Collar	Oct 2029 - Dec 2029	6,630 MMBtu/d	$3.50 × $3.88

Sourced from Northern Oil and Gas's 10-Q 2026-08-07 dated Aug 7, 2026. Hedge positions disclosed in 10-K / 10-Q filings reflect the company's book as of the filing date. Material activity may have occurred since. BoxWood does not estimate post-filing position changes. The estimated value above marks those disclosed positions against the current CME forward curve (intrinsic only) and is not the company's own mark-to-market.

See your own book the same way.

Northern Oil and Gas is one of 43 peers BoxWood tracks against its public filings. On the live demo you'll see this same table for every peer, plus live MTM, AI confirmation matching, and a 50-year price deck on a curve you control. One click, no card.

Try BoxWood →

About BoxWood

BoxWood is commodity hedge management software for oil and gas producers, fuel consumers, refiners, and trade houses: AI-checked trade confirmations, one-click daily mark-to-market, counterparty reconciliation, settlements, scenario analysis, and automated daily reports for natural gas, NGL, crude, refined-product, and basis hedges. The Peer Hedge Atlas is the public, filing-sourced part of it.

How BoxWood compares with AEGIS and CTRM software →Try it on a demo book →