Northern Oil & Gas Inc (NOG)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	2,320,440	2,313,500	2,068,310	2,001,980	2,047,680	1,407,790	1,415,800	1,048,070	745,260	709,097	152,650	-35,302	215,134	-157,711	-168,217	-180,683	-223,304	-83,731	140,728	1,009,010
Debt-to-capital 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

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $2,320,440K)
= 0.00

The debt-to-capital ratio for Northern Oil & Gas Inc has remained consistently low over the period from March 31, 2020, to December 31, 2024. The ratio was reported as 0.00 for most of the quarters during this time frame, indicating that the company has either no debt or a minimal amount of debt relative to its capital structure.

A debt-to-capital ratio of 0.00 suggests that the company's debt is insignificant compared to its total capital, which is a positive sign as it indicates a lower financial risk and dependency on borrowed funds for operations. This low ratio implies that the company relies more on equity financing rather than debt financing to support its business activities.

Overall, a consistently low debt-to-capital ratio for Northern Oil & Gas Inc reflects a conservative and stable capital structure, which may be viewed favorably by investors and creditors. It indicates that the company has a strong financial position and may be better positioned to weather economic downturns or unexpected challenges.