The Leading Non-Operated Franchise

NOG is the largest, publicly traded, non-operated, upstream energy asset owner in the United States that engages in the acquisition, exploration, development and production of oil and natural gas properties, primarily in the Williston, Permian, and Appalachian basins.

Our strategy of acquiring minority interests in core assets across multiple basins operated by leading operators provides NOG with optionality unavailable to traditional E&P companies.

The Company’s size and intimate knowledge of the U.S. Lower 48 basins give it an advantage in making quick decisions, which attracts vigorous deal flow.

Non-Operated Pooled Unit Example

Infographic showing that for a 1,280 acre section (drilling unit), 10% of that is (non-operator) minority interest at 128 acres, and 90% of that is (operator) majority interest at 1,152 acres.
  • NOG acquires non-operated positions in high-quality acreage with a focus on timing of development

    That provide for high internal rates of return on capital.

  • We partner with leading E&P operators with a successful track record

    Ensuring reliable performance and diversification of operational risk.

  • Our engineers evaluate each drilling proposal in the unit as the Operator develops it

    Our minority interest means we own a percentage of the full unit requiring us to be diligent in monitoring the operator's drilling and capex plans.

  • We can provide or withhold consent on our pro rata share of drilling capital on a well by well basis

    NOG has the right to consent to its pro rata ownership capital commitment, giving it flexibility on incremental capital deployment on a well by well basis for the full drilling unit's development plan.

Differentiated Upstream Platform

Our business strategy is to capture and participate in only the highest-return opportunities across premier US oil and gas basins. We leverage our industry relationships, expertise, and capital allocation flexibility to create value for our shareholders by growing reserves, production, and cash flow on a cost-efficient, sustainable basis.

The "Go To" Buyer of Non-Operated Positions

Our established business model has successfully grown production and proved reserves since inception. NOG continues to evaluate and expand its acreage footprint and multi-year drilling inventory through selective, bolt-on acquisitions in areas identified by the Company as being prospective for generating high rates of return throughout commodity cycles. Leading operators recognize NOG as the "go to" buyer of non-operated positions.

With less than 40 employees, NOG is focused on what it means to be accountable to the shareholder. Our unique model provides capital flexibility, discipline, and optionality allowing NOG to execute on an optimal strategy that grows total shareholder value over time.

Backed by Strong Leadership

With less than 40 employees, NOG is focused on what it means to be accountable to the shareholder. Our unique model provides capital flexibility and discipline, both of which requires us to leverage our experience, our intellectual property and relationships across the industry.