Northern Oil & Gas Q2 GAAP net income rises to $236.6 million; adjusted EBITDA climbs 17% to $401 million vs Q1 - NOG News | RalliesNorthern Oil & Gas Q2 GAAP net income rises to $236.6 million; adjusted EBITDA climbs 17% to $401 million vs Q1
N
NOG• Second-quarter results
- Northern Oil & Gas posted Q2 GAAP net income of $236.6 million, up from $99.6 million a year earlier.
- Oil and gas sales rose 17% from Q2 2025 to $670.8 million as total output increased 9% to 145,659 boe/d.
- Adjusted EBITDA climbed 17% from Q1 to $401 million on a 13% improvement in realized commodity price per boe.
- Free cash flow rose 26% from Q2 2025 to $159 million; capital expenditures totaled $195.8 million, excluding non-budgeted acquisitions.
Capital allocation and acquisition activity
- Closed a Duvernay light oil joint development for $262.1 million, repurchased 2.95 million shares, raised buyback capacity to about $243 million.
