NOG: revenue $745.2M, net income $236.6M. NOG expands into Canada, posts oil price surge offset by hedge loss in Q2 2026

Filed August 7, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 1, 2025 · ~2 min read

Key Changes

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  Q2 2026 oil prices surged 46% to $93/bbl (vs $63.68 prior year) on Iran-related supply disruptions and threatened Strait of Hormuz closure, driving revenue up despite settled hedges costing the company $86M in cash (vs $61M gain prior year).

  MD&A: Commodity Prices & Derivatives verify on EDGAR →
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  Company entered Canada for the first time via Duvernay Basin acquisition, forming two new subsidiaries and introducing foreign currency risk; production rose 9% to 145,659 Boe/d but oil's share of the mix fell from 57% to 47% as Appalachian gas and Canadian volumes grew.

  Notes: Canadian Expansion & Production Mix view on EDGAR →
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  Recorded $268M non-cash impairment in H1 2026 (vs $116M prior year), reflecting commodity-price volatility and reserve adjustments; no impairment in Q2 2026 itself.

  MD&A: Ceiling Test Impairment verify on EDGAR →