Northern Oil & Gas Inc (NOG)

Debt-to-assets 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
Long-term debt	US$ in thousands	1,835,550	2,057,360	1,672,550	1,756,950	1,525,410	1,169,220	1,102,210	1,119,500	803,437	858,415	801,998	817,061	879,843	918,327	924,171	975,282	1,118,160	1,140,070	857,198	839,229
Total assets	US$ in thousands	4,484,260	4,304,670	3,664,750	3,342,870	2,875,180	2,471,480	2,192,240	2,024,470	1,522,870	1,244,060	1,091,810	873,243	872,089	1,025,520	1,263,270	2,237,390	1,905,460	1,902,010	1,494,390	1,395,780
Debt-to-assets ratio		0.41	0.48	0.46	0.53	0.53	0.47	0.50	0.55	0.53	0.69	0.73	0.94	1.01	0.90	0.73	0.44	0.59	0.60	0.57	0.60

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,835,550K ÷ $4,484,260K
= 0.41

The debt-to-assets ratio of Northern Oil and Gas Inc. has shown fluctuations over the past eight quarters, ranging from 0.41 to 0.55. A lower debt-to-assets ratio indicates a smaller proportion of debt relative to assets, signifying a lesser financial risk.

In the context of Northern Oil and Gas Inc., the trend suggests a reduction in the ratio from Q1 2022 (0.55) to Q4 2023 (0.41), which could indicate improved financial health and a strengthening balance sheet. However, there was a slight increase in the ratio in Q3 2023 (0.48), suggesting a potential increase in debt relative to assets.

It is important to monitor the debt-to-assets ratio closely as it provides insights into the company's financial leverage and risk exposure. Northern Oil and Gas Inc. should continue to strategically manage its debt levels to maintain a healthy balance between debt and assets.