Northern Oil and Gas Beats Earnings Estimates Despite Lower Profits

Northern Oil and Gas Inc reported second-quarter 2026 adjusted earnings per share of $1.13, beating estimates.

The company's strong natural gas production drove the outperformance, but profits declined from last year due to weaker natural gas prices.

Oil sales reached $671 million, exceeding expectations by 23%, while revenue increased 17% year over year, thanks in part to higher oil price realization.

Northern Oil and Gas completed 30 ground game transactions during the quarter, adding over 2,300 net acres and an additional 6.2 net wells for $44.7 million.