This is a preliminary operational update with no revenue or earnings figures — the full Q3 2026 earnings release will be the material catalyst. Monitor for the formal 10-Q filing and earnings call for production volumes, revenue, and EPS to assess the impact of the large unrealized hedging losses on reported earnings.
Price Chart
Executive Summary
NOG provided a preliminary Q3 2026 operational update, reporting expected capital expenditures of $250-253M, large unrealized mark-to-market hedging losses of $300-320M, and $16M in share repurchases. The filing is an operational preview, not a full earnings release, with no revenue, EPS, or production figures disclosed, making it a routine update with limited price-moving information.
Key Facts
- Q3 2026 capital expenditures expected $250M-$253M, excluding non-budgeted acquisitions
- Unrealized mark-to-market losses on derivatives estimated at $300M-$320M
- Realized hedge losses of $51M-$52M in Q3
- Repurchased 667,989 shares for $16M at avg $23.96/share
- Board authorized $150M increase to buyback program; remaining capacity ~$227.2M
- Quarterly dividend of $0.45 declared on Aug 4, 2026, payable Oct 30, 2026
- Closed 19 ground game deals, adding ~1,060 net acres and 2.8 net wells for ~$56.5M
- Reiterated 2026 capital expenditure guidance, expects spending toward higher end of range
Financial Impact
Capital spending $250M-$253M; unrealized hedging losses $300M-$320M; realized hedge losses $51M-$52M; $16M share repurchases; $227.2M remaining buyback capacity
Risk Factors
- Large unrealized hedging losses ($300M-$320M) could materially impact GAAP earnings when reported
- Capital spending trending toward high end of guidance range may pressure free cash flow
- Preliminary estimates subject to revision upon completion of financial closing procedures
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104485-26-000043 |
| Document: pre-oppressreleasexoctober.htm | 0001104485-26-000043 |
| Document: 0001104485-26-000043-index-headers.html | 0001104485-26-000043 |
| Document: 0001104485-26-000043-index.html | 0001104485-26-000043 |
| Document: 0001104485-26-000043.txt | 0001104485-26-000043 |
| 8-K Data (Synthetic) | 0001104485-26-000043 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 5d ago | Institutional Cluster | $27.44 | awaiting T+60 | — | $28.26 (+2.99%) |
Oct 13, 2026 13d ago | 8-K | $26.39 | awaiting T+60 | — | $28.26 (+7.09%) |
Aug 19, 2026 9w ago | 8-K | $26.06 | awaiting T+60 | — | $28.26 (+8.44%) |
Jul 13, 2026 15w ago | 8-K | $20.36 $23.91 | ▲ +17.44% | ▲ +13.44% | $28.26 (+38.80%) |
Jun 2, 2026 20w ago | 8-K | $22.04 $26.02 | ▲ +18.06% | ▲ +16.94% | $28.26 (+28.22%) |
Jun 1, 2026 20w ago | 8-K | $22.04 $26.02 | ▲ +18.06% | ▲ +16.94% | $28.26 (+28.22%) |
May 26, 2026 21w ago | 8-K | $22.34 $26.06 | ▲ +16.65% | ▲ +13.93% | $28.26 (+26.50%) |
Apr 10, 2026 28w ago | DEFA14A | $27.26 $19.36 | ▼ −28.98% | ▼ −37.90% | $28.26 (+3.67%) |
Feb 25, 2026 34w ago | 8-K | $25.87 $23.62 | ▼ −8.69% | ▼ −16.44% | $28.26 (+9.25%) |
US Market Status
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