NORTHERN OIL & GAS, INC. (NOG) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Low Risk
Limited dilution potential
Last updated: April 29, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 1.78% (2 years)
Historical Dilution Factor: minimal recent dilution
Outstanding Shares
99M
Potential Supply
0
Additional shares possible
Splits
None
Past 2 years

Summary

NOG currently has 98.5M outstanding shares. with minimal authorized share overhang for future dilution. The company has minimally diluted shareholders by 1.78% over the past 2 years.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Apr 29, 2026

10-Q filing | 98.5M shares outstanding

99M 0
Nov 07, 2025

10-Q filing | 97.1M shares outstanding

97M 0
Aug 01, 2025

10-Q filing | 98.1M shares outstanding

98M 0
Jun 18, 2025

8-K filing: Northern Oil and Gas, Inc. completed an offering of $200,000,000 aggregate principal amount of 3.65% Convertible Senior Notes due 2029 in a private placement and may issue a maximum of 6,880,160 shares of common stock upon conversion of the notes.

99M 0
Apr 30, 2025

10-Q filing | 98.6M shares outstanding

99M 0
Feb 20, 2025

10-K filing | 99.9M shares outstanding

100M 0
Nov 06, 2024

10-Q filing | 99.5M shares outstanding

99M 0
Jul 31, 2024

10-Q filing | 100.3M shares outstanding

100M 0
Apr 30, 2024

10-Q filing | 101.6M shares outstanding

100M 0
Feb 23, 2024

10-K filing | 92.1M shares outstanding

92M 0
Nov 02, 2023

10-Q filing | 93.7M shares outstanding

94M 0
Aug 03, 2023

10-Q filing | 89.1M shares outstanding

89M 0
May 05, 2023

10-Q filing | 85.4M shares outstanding

85M 0
Feb 24, 2023

10-K filing | 86.7M shares outstanding

87M 0
Nov 09, 2022

10-Q filing | 78.6M shares outstanding

79M 0
Nov 08, 2022

8-K filing: Northern Oil and Gas, Inc. exercised its mandatory conversion rights on its 6.500% Series A Perpetual Cumulative Convertible Preferred Stock to convert such shares into common stock on November 15, 2022, resulting in the issuance of approximately 7,376,740 shares of common stock in exchange for 1,643,732 shares of preferred stock.

77M 0
Aug 04, 2022

10-Q filing | 77.4M shares outstanding

77M 0
Jul 15, 2022

POS AM filing: This post-effective amendment is being filed to terminate the effectiveness of the Registration Statement and to remove from registration all securities registered but not sold under the Registration Statement.

77M 0
Jun 23, 2022

8-K filing: Northern Oil and Gas, Inc. issued 2,322,690 shares of common stock in exchange for the surrender and cancellation of warrants to purchase 3,294,092 shares of common stock.

77M 0
May 06, 2022

10-Q filing | 76.9M shares outstanding

77M 0
Feb 25, 2022

10-K filing | 77.3M shares outstanding

77M 0
Jan 31, 2022

8-K filing: The Company issued an aggregate of 1,939,998 warrants to purchase shares of the Company's common stock at an exercise price of $28.30 per share to Veritas Permian II, LLC and Veritas MOC Holdings, LLC.

66M 1.1M
Nov 22, 2021

8-K filing: Northern Oil and Gas, Inc. closed a public offering of 11,000,000 shares of common stock, including the exercise of an underwriter's option, on November 22, 2021, with the company using the proceeds to fund an acquisition.

66M 1.1M
Nov 05, 2021

10-Q filing | 65.9M shares outstanding

66M 1.1M
Aug 05, 2021

10-Q filing | 60.7M shares outstanding

61M 6.2M
May 07, 2021

10-Q filing | 54.5M shares outstanding

55M 12M
Apr 06, 2021

S-3 filing: This prospectus covers the offer, resale or other disposition from time by the selling securityholder named herein of (i) warrants to purchase up to 3,250,000 shares of our common stock and (ii) 3,250,000 shares of our common stock underlying the Warrants.

60M 6.5M
Apr 06, 2021

S-3 filing: This is an S-3 filing for Northern Oil and Gas, Inc. to offer common stock, preferred stock, depositary shares, debt securities, warrants, purchase contracts and units up to $700,000,000.

60M 6.5M
Mar 12, 2021

10-K filing | 60.4M shares outstanding

60M 0
Nov 06, 2020

10-Q filing | 43.5M shares outstanding

44M 0
Oct 05, 2020

8-K filing: Northern Oil and Gas, Inc. will issue 295,000 shares of its common stock to W North Fund, LLC in partial consideration for its acquisition of oil and gas properties in North Dakota, with a potential for up to 45,000 additional shares based on Dakota Access Pipeline crude oil volume.

45M 0
Sep 18, 2020
Stock Split

8-K filing: Stock split 1-for-10 | Outstanding: 415,356,043 → 44,664,033

45M 0
Aug 07, 2020

10-Q filing | 415.4M shares outstanding

420M 0
May 11, 2020

10-Q filing | 403.7M shares outstanding

400M 0
Mar 12, 2020

10-K filing | 387.1M shares outstanding

390M 0
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