Northern Oil & Gas Inc (NOG)

Debt-to-assets ratio

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Long-term debt US$ in thousands
Total assets US$ in thousands 5,603,820 5,055,330 4,724,660 4,633,800 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
Debt-to-assets ratio 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $5,603,820K
= 0.00

The debt-to-assets ratio of Northern Oil & Gas Inc has consistently remained at 0.00 from March 31, 2020, to December 31, 2024. This indicates that the company has been financing its operations primarily through equity rather than debt during this period. A debt-to-assets ratio of 0.00 suggests that the company has not taken on any debt to finance its assets, which can be viewed positively as it signifies a lower financial risk and may indicate financial stability. However, it's important to note that a very low debt-to-assets ratio may also imply that the company is not leveraging debt effectively to fund growth opportunities or maximize returns for shareholders.