Affordability, reliability, responsibility

NOG is proud of its role in energy production in the United States as a knowledgeable, responsible and reliable non-operating capital partner. Our investments help produce hydrocarbons that society counts on to power modern life and produce common household goods.

We aspire to be an energy industry participant that supports the production of affordable and reliable energy enhancing modern day lives. This is why we carefully select the operators with whom we choose to partner – aligning NOG’s capital with responsible ESG E&P leaders.

Uncover the facts in our ESG Report (09/22)

Our Long-term Commitment

NOG embraces Kaizen, the pursuit of continuous improvement, in all aspects of its business. With respect to sustainability and what we have in our direct operational control, NOG is committed to significantly reducing its Scope 1 and Scope 2 GHG emissions by 2025 through efficiency improvements or the purchase of carbon offsets, increasing our support of the communities where we are headquartered and where we own land, enhancing our operator engagement process regarding ESG matters and honing our governance and disclosures to be best in class.

We believe that our commitment to continuous improvement will result in better outcomes for our business and our stakeholders.

Due diligence

We actively target operators who have significant oil and gas operating experience and adherence to high ESG and regulatory standards. Many of our operators are members of the Environmental Partnership. Seventy-two percent of NOG’s 2022 production came from 27 public operators with publicly available ESG ratings.

Striving for sustainability through our business model

We adhere to the principles of portfolio theory to mitigate risk and optimize returns for our stakeholders. Our average interest in a well is less than 10% and our interests are spread across four basins, 10,000 wells operated by over 100 public and private operators. We strive to make investments that replenish our inventory even as we grow our production. We establish strict investment hurdles on a well by well and acquisition basis and strive to maintain leverage targets to protect our balance sheet and our investor’s capital. We also utilize and active hedging program to protect underwritten returns, our operations and to further de-risk the volatility of the commodity markets.

A high level of social focus

We highly value community, starting with our team. We are committed to providing a workplace environment that is free of discrimination and harassment, where all individuals have equal opportunities and are treated with respect and dignity. This commitment extends to all employees, consultants, vendors, contractors, service providers and business partners equally. We further outline our stance on Human Rights in our recently adopted Human Rights Statement which can be found in our Governance Documents.

Our investment process and governance contribute to our track record of industry-leading returns

Each of NOG’s capital allocation decisions goes through a rigorous underwriting process measured against short and long term financial and operational targets. Board-level acquisition committee input, oversight and approval is required for unbudgeted capital decisions and M&A over $8 million with full board approval required for M&A over $100 million. NOG’s compensation program reinforces our fiduciary mindset ensuring that the Company is aligned with shareholders over the short and long term. We believe that strict adherence to our processes has directly contributed to our track record of industry leading Return on Capital Deployed and total shareholder returns.

Honoring Our Social Responsibility

NOG embraces its responsibility to support the communities where it resides and where it invests. We have concentrated our corporate giving in causes that empower children, families and scholars both locally and in the states where we own property. We further our reach by matching our team members' charitable giving.

Assurance of Ethical Governance

NOG embraces its role as a fiduciary to its numerous stakeholders. Our commitment is evident in our board's structure and oversight responsibilities, risk management framework, ethics policies and our alignment with shareholders in a carefully crafted compensation program.

Look through our Governance documents