Northern Oil and Gas Expects Q3 Capital Spending of $250M-$253M

Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) reported updates on several business matters, including third-quarter Ground Game transactions, expected capital spending, hedging results and shareholder returns. **Highlights** NOG said operations were clean during the quarter, with all basins meeting internal expectations. 8 net wells during the third quarter.

0 million, excluding non-budgeted acquisitions and other items. 0 million. 0 million, including commissions. **Business update** NOG reported minimal field disruptions and a clean operational quarter.

As oil strip prices rallied, the Company saw development activity accelerate incrementally across its oil basins. **Ground Game and capital expenditure update** NOG continued its high-quality Ground Game acquisitions in the third quarter, closing 19 deals. 5 million deployed for acquisitions and associated development capital. Spending continued to favor near-term production in its oil-focused basins, with nearly 85% of capital allocated to the Permian, Williston and Uinta basins.

0 million, excluding non-budgeted acquisitions and other items. Current and forward activity accelerated during the quarter, contributing to higher sequential capital spending. Capital expenditures are expected to decline in the fourth quarter absent significant non-budgeted activity. The Company reiterated its 2026 capital expenditure guidance.

At the current pace, Northern Oil and Gas expects spending to land toward the higher end of the range. 0 in unrealized mark-to-market derivative losses, reflecting changes in the value of its derivatives portfolio. 0 million, driven by the Company’s crude oil hedges, partially Gas and basis hedges offset the impact. 45, payable on October 30, 2026.

96 per share, inclusive of commissions. 0 million increase to the common stock repurchase program. 2 million of capacity remained.