Northern Oil & Gas Inc (NOG)

Current ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total current assets	US$ in thousands	509,407	469,626	385,753	395,941	320,485	376,694	382,795	323,456	215,328	167,583	139,664	102,424	125,629	183,749	205,094	354,847	133,037	172,110	133,068	126,461
Total current liabilities	US$ in thousands	385,761	602,491	378,751	345,300	344,972	381,746	635,932	625,529	327,557	355,172	300,837	155,968	182,475	170,455	179,220	235,078	203,477	230,824	232,726	226,054
Current ratio		1.32	0.78	1.02	1.15	0.93	0.99	0.60	0.52	0.66	0.47	0.46	0.66	0.69	1.08	1.14	1.51	0.65	0.75	0.57	0.56

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $509,407K ÷ $385,761K
= 1.32

The current ratio of Northern Oil and Gas Inc. has shown fluctuations over the past eight quarters, ranging from a low of 0.52 in Q1 2022 to a high of 1.32 in Q4 2023. A current ratio below 1 indicates that the company may have difficulties meeting its short-term obligations with its current assets alone. It is worth noting that Northern Oil and Gas Inc. experienced a significant improvement in liquidity from Q3 2023 to Q4 2023, as the current ratio increased from 0.78 to 1.32. This suggests that the company may have enhanced its ability to cover its short-term liabilities with its current assets. However, further monitoring of the trend is recommended to assess the company's ongoing liquidity position.