NOG — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-07

• We have based any forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, co…

• •Commodity price differentials. The price differential between our well head price for oil and the NYMEX WTI benchmark price (“Oil Price Differential”) is primarily driven by the cost to transport oil via train, pipeline or truck to refineries. The price differential between our well head price for …

• future months, the present value of the Company’s future net revenues could decline, which could trigger the need for the Company to record an additional non-cash ceiling test impairment of its oil and gas property costs in future periods.

• •Income tax expense. Our provision for taxes includes, federal, state and foreign taxes. We record our income taxes in accordance with accounting for income taxes under GAAP, which results in the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary…

• •the foreign currency exchange rates impacting our foreign operations.

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• We have based any forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to

• significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Accordingly, results actually achieved may differ materially from expected results described in these statements.…

• •Commodity price differentials. The price differential between our well head price for oil and the NYMEX WTI benchmark price (“Oil Price Differential”) is primarily driven by the cost to transport oil via train, pipeline or truck to

• refineries. The price differential between our well head price for natural gas and NGLs and the NYMEX Henry Hub benchmark price (“Gas Price Differential”) is primarily driven by gathering and transportation costs. As applicable, the calculations of both our Oil Price Differential and Gas Price Diffe…

• •Income tax expense. Our provision for taxes includes both federal and state taxes. We record our federal income taxes in accordance with accounting for income taxes under GAAP, which results in the recognition of deferred tax assets and liabilities for the expected future tax consequences of tempor…

Text added vs the prior filing · source: 10-Q · 2026-08-07

• We enter into derivative contracts to achieve a more predictable cash flow by reducing our exposure to commodity price volatility. All derivative positions are carried at their fair value on the condensed consolidated balance sheets and are marked-to-market at the end of each period. Any realized ga…

• Our cash activities relating to our international operations are based on the U.S. dollar equivalent of cash flows measured in foreign currencies. Our Canadian production is sold under Canadian dollar contracts, while the majority of costs incurred are paid in Canadian dollars. Transactions denomina…

• Foreign currency gains and losses also arise when monetary assets and liabilities denominated in foreign currencies are remeasured at the end of each month. Foreign currency gains and losses from remeasurements are included in current earnings.

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• indeterminable given the variety of expenses associated with producing and selling oil that also increase and decrease along with oil prices.

• We enter into derivative contracts to achieve a more predictable cash flow by reducing our exposure to commodity price volatility. All derivative positions are carried at their fair value on the condensed balance sheets and are marked-to-market at the end of each period. Any realized gains and losse…

Text added vs the prior filing · source: 10-Q · 2026-08-07

• As of June 30, 2026, our management, including our principal executive officer and principal financial officer, had evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) pursuant to Rule 13a-15(b) …

• No change in our Company’s internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) occurred during the quarter ended June 30, 2026, that has materially affected, or is reasonably likely to materially affect, our internal control over financial r…

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• communicated to our management, including our principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosures.

• As of March 31, 2026, our management, including our principal executive officer and principal financial officer, had evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) pursuant to Rule 13a-15(b)…

• No change in our Company’s internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) occurred during the quarter ended March 31, 2026, that has materially affected, or is reasonably likely to materially affect, our internal control over financial …

Text added vs the prior filing · source: 10-Q · 2026-08-07

• Our future results will suffer if we do not effectively manage our expanded operations and the risks inherent in operating in a foreign jurisdiction.

• In recent years, the size and geographic footprint of our business has increased as a result of a series of acquisitions, including most recently our acquisition of certain oil and gas properties, interests and related assets located in the Duvernay East Shale Basin in Alberta, Canada. Our future su…

• Fluctuations in exchange rates could affect expenses or result in realized and unrealized losses.

• As a result of the recently completed Duvernay Acquisition, we have operations in Canada and, as a result, a portion of our revenues and expenses are denominated in Canadian dollars. In addition, our subsidiary that is domiciled in Canada may hold U.S. dollar denominated assets and liabilities. Fluc…