Quarterly report pursuant to Section 13 or 15(d)

STATEMENTS OF OPERATIONS (UNAUDITED)

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STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
REVENUES    
Oil and Gas Sales $ 50,454,148us-gaap_OilAndGasSalesRevenue $ 96,802,970us-gaap_OilAndGasSalesRevenue
Gain (Loss) on Settled Derivatives 39,994,650us-gaap_GainLossOnSaleOfDerivatives (6,817,980)us-gaap_GainLossOnSaleOfDerivatives
Losses on the Mark-to-Market of Derivative Instruments (14,331,367)us-gaap_UnrealizedGainLossOnDerivatives (7,859,683)us-gaap_UnrealizedGainLossOnDerivatives
Other Revenue 7,207us-gaap_OtherSalesRevenueNet 0us-gaap_OtherSalesRevenueNet
Total Revenues 76,124,638us-gaap_Revenues 82,125,307us-gaap_Revenues
OPERATING EXPENSES    
Production Expenses 14,199,090us-gaap_OilAndGasProductionExpense 11,677,429us-gaap_OilAndGasProductionExpense
Production Taxes 5,413,108us-gaap_ProductionTaxExpense 9,791,201us-gaap_ProductionTaxExpense
General and Administrative Expense 4,352,806us-gaap_GeneralAndAdministrativeExpense 3,997,690us-gaap_GeneralAndAdministrativeExpense
Depletion, Depreciation, Amortization and Accretion 45,213,039nog_DepletionDepreciationAmortizationAndAccretion 36,100,921nog_DepletionDepreciationAmortizationAndAccretion
Impairment of Oil and Natural Gas Properties 360,428,962us-gaap_ImpairmentOfOilAndGasProperties 0us-gaap_ImpairmentOfOilAndGasProperties
Total Expenses 429,607,005us-gaap_OperatingExpenses 61,567,241us-gaap_OperatingExpenses
(LOSS) INCOME FROM OPERATIONS (353,482,367)us-gaap_OperatingIncomeLoss 20,558,066us-gaap_OperatingIncomeLoss
OTHER INCOME (EXPENSE)    
Interest Expense, Net of Capitalization (11,736,547)us-gaap_InterestExpense (9,898,968)us-gaap_InterestExpense
Other Income 342us-gaap_OtherNonoperatingIncomeExpense 30,665us-gaap_OtherNonoperatingIncomeExpense
Total Other Income (Expense) (11,736,205)nog_TotalOtherIncomeExpense (9,868,303)nog_TotalOtherIncomeExpense
(LOSS) INCOME BEFORE INCOME TAXES (365,218,572)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 10,689,763us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
INCOME TAX PROVISION (135,480,000)us-gaap_IncomeTaxExpenseBenefit 4,100,000us-gaap_IncomeTaxExpenseBenefit
NET (LOSS) INCOME $ (229,738,572)us-gaap_NetIncomeLoss $ 6,589,763us-gaap_NetIncomeLoss
Net (Loss) Income Per Common Share - Basic (in dollars per share) $ (3.79)us-gaap_EarningsPerShareBasic $ 0.11us-gaap_EarningsPerShareBasic
Net (Loss) Income Per Common Share - Diluted (in dollars per share) $ (3.79)us-gaap_EarningsPerShareDiluted $ 0.11us-gaap_EarningsPerShareDiluted
Weighted Average Shares Outstanding - Basic (in shares) 60,556,180us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 61,203,725us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Weighted Average Shares Outstanding - Diluted (in shares) 60,556,180us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 61,446,274us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding