NOG Stock Balance Sheets

Northern Oil and Gas Quarterly Balance Sheets Chart

Quarterly

Annual

Account Receivables

Cash and Cash Eq

Account Payables

Long-Term Debt

Northern Oil and Gas Quarterly Balance Sheets Table

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31

assets
current assets:
cash and cash equivalents	25,856,000	33,576,000	8,933,000	34,356,000	7,778,000	32,468,000	8,195,000	12,952,000	14,805,000	6,073,000	2,528,000	9,129,000	1,471,000	3,335,000	9,519,000	2,006,000	4,843,000	2,729,000	1,428,000	1,803,000	1,838,000	8,512,000	16,068,000	1,901,000	2,794,000	3,944,000	2,358,000	112,965,907	200,924,143	89,472,745	102,183,000	6,776,667	3,808,829	5,518,799	6,486,000	3,319,021	3,390,389	7,042,258	3,390,389	3,390,389	8,049,167	14,252,184	8,108,950	11,868,598	18,095,437	8,482,166	8,234,566	25,171,675	3,834,888	6,279,587	8,265,649	77,379,376	99,705,160	39,486,949	70,167,911	1,153,583	6,233,372	780,716	6,772,167	12,367,173	1,967,740	10,112,660
accounts receivable	410,245,000	409,624,000	389,673,000	316,933,000	359,649,000	331,119,000	370,531,000	363,516,000	265,042,000	274,399,000	271,336,000	318,139,000	360,859,000	297,754,000	193,554,000	158,047,000	131,165,000	94,804,000	71,015,000	60,067,000	43,408,000	97,580,000		103,226,000	87,697,000	90,509,000		90,476,380	68,273,411	51,284,262		39,179,206	35,984,651	33,945,067
advances to operators	24,641,000	10,586,000	12,291,000	18,153,000	21,685,000	6,794,000	49,210,000	25,431,000	34,249,000	40,985,000	8,976,000	13,133,000	13,868,000	18,536,000	6,319,000	5,137,000	433,000	431,000	476,000	714,000	788,000	567,000		1,314,000	1,425,000	43,000		2,552,490	416,002	3,023,851		1,211,517	1,631,987	1,178,400		1,733,051	1,689,879	2,002,713	1,689,879	1,689,879	869,485	855,736	608,471	1,666,129	1,640,014	3,137,738	4,050,511	7,023,970	12,546,787	17,530,474
prepaid expenses and other	6,517,000	5,076,000	5,271,000	12,111,000	2,651,000	2,566,000	2,489,000	2,567,000	2,488,000	2,328,000	2,014,000	2,293,000	2,987,000	2,111,000	3,417,000	2,393,000	2,705,000	2,455,000	1,420,000	1,697,000	2,204,000	2,216,000		2,717,000	8,226,000	12,182,000		17,960,647																2,160,026	2,800,560
derivative instruments	109,281,000	52,904,000	46,525,000	100,797,000	19,569,000	36,710,000	75,733,000	65,160,000	68,674,000	72,156,000	35,293,000	34,000,000	3,610,000	1,720,000	2,519,000		518,000	2,005,000	51,290,000	119,468,000	156,436,000	245,552,000		62,531,000	32,531,000	18,578,000		61,637,192	43,644,644	26,796,245		2,622,120	14,935,836	3,671,684		7,212,947	64,611,558	87,881,527	64,611,558	64,611,558	3,849,629	45,110,007	167,302	22,692	2,504,212	573,873	4,005,611	17,732,562
income tax receivable	11,817,000	9,846,000	38,050,000	36,573,000	2,335,000	3,139,000	3,249,000		495,000		338,000										420,000	420,000		420,000	395,000	1,205,000		785,016	785,016	785,016		1,402,179	1,402,179	1,402,179
total current assets	588,357,000	521,612,000	500,743,000	518,923,000	413,667,000	412,796,000	509,407,000	469,626,000	385,753,000	395,941,000	320,485,000	376,694,000	382,795,000	323,456,000	215,328,000	167,583,000	139,664,000	102,424,000	125,629,000	183,749,000	205,094,000	354,847,000	133,037,000	172,110,000	133,068,000	126,461,000	228,415,000	224,740,440	275,983,359	147,020,439	152,758,000	53,470,363	60,669,457	48,188,446	46,894,000	46,321,835	128,814,806	189,203,701	122,029,719	122,029,719	106,448,328	128,204,049	104,684,787	118,814,458	97,961,413	94,136,643	96,654,199	117,107,492	85,757,011	80,504,772	90,066,570	135,653,959	179,984,008	65,965,869	90,596,786	34,204,202	42,017,813	5,193,213	8,541,447	17,605,086	5,962,838	10,502,630
property and equipment:
oil and natural gas properties, full cost method of accounting
proved	10,850,664,000	10,566,985,000	10,307,376,000	9,524,785,000	9,111,493,000	8,877,966,000	8,428,518,000	8,135,649,000	7,422,732,000	7,019,244,000	6,492,683,000	5,931,821,000	5,626,474,000	5,492,966,000	5,034,769,000	4,804,687,000	4,638,415,000	4,431,977,000	4,393,533,000	4,344,346,000	4,300,151,000	4,265,534,000		4,043,897,000	3,607,214,000	3,511,605,000		3,001,638,590	2,754,032,103	2,641,517,632		2,527,686,215	2,487,266,816	2,456,816,317		2,392,372,802	2,336,757,089	2,308,144,736	2,336,757,089	2,336,757,089	2,005,625,094	1,880,157,218	1,728,444,854	1,476,511,245	1,362,425,608	1,250,775,445	1,051,333,841	939,211,344	717,342,914	566,195,321	400,904,005	267,625,123	202,071,631
unproved	35,307,000	42,825,000	42,702,000	23,006,000	37,654,000	34,507,000	36,785,000	36,827,000	44,977,000	41,846,000	41,565,000	57,775,000	53,864,000	55,606,000	24,998,000	24,656,000	21,347,000	9,621,000	10,031,000	10,328,000	10,681,000	10,846,000		11,145,000	9,249,000	6,997,000		1,236,986	1,829,834	1,578,767		2,204,991	1,939,789	1,704,682		4,822,789	10,007,529	15,341,573	10,007,529	10,007,529	71,275,756	72,738,526	68,880,470	85,059,046	81,616,025	91,818,469	104,910,316	98,102,110	141,627,217	137,784,903	146,459,279	185,767,402	157,678,911
other property and equipment	8,678,000	8,783,000	8,197,000	8,182,000	8,146,000	8,120,000	8,069,000	7,421,000	7,360,000	7,096,000	6,858,000	6,857,000	6,833,000	2,732,000	2,616,000	2,779,000	2,501,000	2,502,000	2,451,000	2,215,000	2,164,000	2,156,000		1,999,000	1,609,000	1,003,000		998,192	963,364	1,003,388		981,303	977,349	977,349		1,871,314	1,837,469	1,891,228	1,837,469	1,837,469	1,781,645	1,766,997	1,715,418	1,567,652	1,400,756	3,232,324	3,173,798	3,161,246	3,119,612	2,988,641	2,660,240	2,552,891	2,499,699	2,395,743	2,193,447	470,016	439,656	408,400	269,084	247,003	247,003
total property and equipment	10,894,649,000	10,618,593,000	10,358,275,000	9,555,973,000	9,157,293,000	8,920,593,000	8,473,372,000	8,179,897,000	7,475,069,000	7,068,185,000	6,541,106,000	5,996,453,000	5,687,171,000	5,551,304,000	5,062,383,000	4,832,122,000	4,662,263,000	4,444,100,000	4,406,015,000	4,356,889,000	4,312,996,000	4,278,536,000	1,748,593,000	4,057,041,000	3,618,072,000	3,519,605,000	1,202,745,000	3,003,873,768	2,756,825,301	2,644,099,787	473,220,000	2,530,872,509	2,490,183,954	2,459,498,348	376,208,000	2,399,066,905	2,348,602,087	2,325,377,537	2,348,602,087	2,348,602,087	2,078,682,495	1,954,662,741	1,799,040,742	1,563,137,943	1,445,442,389	1,345,826,238	1,159,417,955	1,040,474,700	862,089,743	706,968,865	550,023,524	455,945,416	362,250,241	207,826,518	158,378,503	120,067,760		56,088,967	39,798,371	20,900,777	14,999,696	7,628,834
less – accumulated depreciation, depletion and impairment	-5,801,503,000	-5,480,999,000	-5,276,105,000	-5,075,954,000	-4,891,014,000	-4,715,097,000	-4,541,808,000	-4,391,261,000	-4,258,089,000	-4,152,245,000	-4,058,180,000	-3,981,393,000	-3,915,919,000	-3,861,759,000	-3,809,041,000	-3,767,613,000	-3,732,183,000	-3,701,715,000	-3,670,811,000	-3,533,887,000	-3,303,913,000	-2,504,735,000		-2,380,086,000	-2,324,790,000	-2,278,914,000		-2,185,892,937	-2,155,812,722	-2,133,433,050		-2,097,463,246	-2,082,243,816	-2,068,695,690		-2,043,702,564		-1,568,202,406	-1,759,281,704	-1,759,281,704
other noncurrent assets	19,679,000	10,158,000	11,077,000	16,155,000	15,111,000	14,439,000	15,466,000	16,861,000	15,658,000	16,490,000	16,220,000	15,930,000	16,555,000	10,985,000	11,683,000	11,970,000	12,634,000	10,578,000	11,145,000	11,722,000	13,756,000	14,409,000		9,842,000	10,012,000	10,368,000		5,443,131	5,301,565	5,998,270		6,668,836	8,138,977	8,195,320		8,665,794			10,080,846	10,080,846
total assets	5,702,493,000	5,674,614,000	5,603,822,000	5,055,327,000	4,724,664,000	4,633,801,000	4,484,255,000	4,304,666,000	3,664,749,000	3,342,866,000	2,875,178,000	2,471,476,000	2,192,235,000	2,024,469,000	1,522,866,000	1,244,062,000	1,091,810,000	873,243,000	872,089,000	1,025,524,000	1,263,273,000	2,237,386,000	1,905,465,000	1,902,009,000	1,494,391,000	1,395,779,000	1,503,645,000	1,068,949,402	883,082,503	664,470,446	632,254,000	494,365,880	481,305,903	449,244,727	431,533,000	410,372,136	733,945,448	1,001,236,168	721,430,948	721,430,948	1,796,574,655	1,734,182,649	1,598,047,200	1,452,735,780	1,352,562,790	1,263,731,481	1,135,215,576	1,073,597,565	869,807,816	725,593,919	595,971,749	555,282,115	514,427,833	261,784,360	240,874,456	148,549,202		62,875,539	51,285,555	38,333,728	20,909,888	18,131,464
liabilities and stockholders’ equity
current liabilities:
accounts payable	173,911,000	230,924,000	202,866,000	152,455,000	150,145,000	156,233,000	192,672,000	235,129,000	154,020,000	134,264,000	128,582,000	142,678,000	141,372,000	101,696,000	65,464,000	65,912,000	49,186,000	40,788,000	35,803,000	20,372,000	50,005,000	58,447,000		112,698,000	93,355,000	154,339,000		122,279,397	92,176,052	95,148,543		81,150,980	72,396,006	64,204,150		47,759,558	65,319,170	98,885,559	65,319,170	65,319,170	220,127,572	217,865,235	168,619,872	146,468,743	108,389,431	118,562,082	122,259,062	143,061,879	114,864,432	110,133,286	52,519,516	56,416,606	28,531,576	15,086,298	9,987,487	13,495,727	6,419,534	1,934,810	770,771	426,307	481,696	113,254
accrued liabilities and other	310,162,000
total current liabilities	488,197,000	564,318,000	544,270,000	420,288,000	465,569,000	428,010,000	385,761,000	602,491,000	378,751,000	345,300,000	344,972,000	381,746,000	635,932,000	625,529,000	327,557,000	355,172,000	300,837,000	155,968,000	182,475,000	170,455,000	179,220,000	235,078,000	203,477,000	230,824,000	232,726,000	226,054,000	231,526,000	215,378,909	158,003,883	147,942,804	123,575,000	265,468,079	83,343,284	88,587,466	77,444,000	72,582,958	78,115,147	156,418,872	78,115,147	78,115,147	239,084,180	269,464,473	209,558,676	185,136,745	118,726,286	134,943,953	134,760,080	153,939,141	130,922,854	119,660,595	58,029,958	72,155,369	56,944,536	19,568,886	11,944,757	16,392,207		13,411,065	4,377,361	3,325,757	2,194,099	224,247
long-term debt	2,365,942,000	2,310,500,000	2,369,294,000	1,953,099,000	1,874,909,000	1,938,731,000	1,835,554,000	2,057,359,000	1,672,551,000	1,756,949,000	1,525,413,000	1,169,220,000	1,102,214,000	1,119,500,000	803,437,000	858,415,000	801,998,000	817,061,000	879,843,000	918,327,000	924,171,000	975,282,000	989,482,000	1,140,072,000	857,198,000	839,229,000	830,203,000	789,528,047	834,767,656	980,782,714	979,324,000	691,118,074	845,281,659	823,450,676		807,788,710			835,290,329	835,290,329
deferred tax liability	298,749,000	274,684,000	228,038,000	210,738,000	112,870,000	71,249,000	68,488,000	7,291,000	30,528,000																													31,695,562			145,955,000	128,029,000	123,045,000	106,634,000	98,060,000	85,141,000	709,000	6,029,000	43,941,000	35,929,000	2,531,000						922,000
asset retirement obligations	48,376,000	46,975,000	45,907,000	42,867,000	41,409,000	39,899,000	38,203,000	36,799,000	34,780,000	32,905,000	31,582,000	29,913,000	28,678,000	27,815,000	25,865,000	27,106,000	26,176,000	18,884,000	18,366,000	17,891,000	17,526,000	17,198,000		16,582,000	12,845,000	12,364,000		497,129	483,365	550,443		577,886	507,943	586,821		243,698	188,770	212,269	188,770	188,770
other noncurrent liabilities	2,023,000	2,148,000	2,272,000	2,391,000	2,509,000	2,625,000	2,741,000	2,847,000	2,944,000	3,042,000	2,045,000	2,116,000	2,186,000	2,304,000	3,110,000	4,349,000	3,490,000	26,000	50,000	126,000	199,000	273,000		417,000	329,000	381,000		112,835	120,298	127,761		141,152	146,313	151,473							4,824,408	4,428,584	4,042,107	2,129,018	1,891,210	1,758,894	1,422,683	1,291,844	1,112,271	959,366	744,106	681,133	563,127				243,888
total liabilities	3,289,474,000	3,272,533,000	3,283,387,000	2,741,825,000	2,656,357,000	2,631,822,000	2,436,578,000	2,896,873,000	2,248,952,000	2,294,799,000	2,129,917,000	1,762,379,000	2,039,585,000	2,059,771,000	1,307,731,000	1,401,773,000	1,260,027,000	1,053,926,000	1,095,393,000	1,109,255,000	1,122,544,000	1,228,379,000	1,346,822,000	1,387,894,000	1,104,742,000	1,083,019,000	1,073,780,000	1,057,739,429	1,030,902,761	1,153,246,930	1,123,094,000	964,970,306	936,776,875	919,335,025	918,955,000	886,432,594	931,547,562	1,029,577,891	919,033,062	919,033,062	1,128,264,048	1,124,724,284	984,819,036	851,870,683	729,107,226	667,069,764	569,839,763	515,357,985	359,760,805	229,023,864	101,473,064							13,411,065	4,377,361	3,325,757	2,194,099	224,247
commitments and contingencies
stockholders’ equity
common stock	500,000		501,000				503,000				487,000				479,000				448,000									334,210	293,600	65,938		63,822	63,822	63,383		63,030	63,120	61,601	63,120	63,120	61,027	61,030	60,984	61,797	63,808	63,784			63,504	63,330	63,155
additional paid-in capital	1,731,434,000		1,877,416,000				2,124,963,000				1,745,532,000				1,988,649,000				1,556,602,000									1,026,052,523	886,041,475	448,766,213		446,056,796	445,102,784	444,285,756		442,926,076	440,221,018	437,169,607	440,221,018	440,221,018	434,364,613	433,497,678	432,855,073	444,481,894	468,773,256	466,991,106			452,806,912	448,198,350	444,937,243						124,884,266	51,692,776	50,435,311	39,842,362	23,190,679	22,259,921
retained earnings	681,085,000		442,518,000																																		-637,886,252	-465,572,931		-637,886,252	233,884,967	175,899,657	180,312,107	156,321,406	154,618,500	129,606,827			57,176,595	48,370,684	49,751,472						841,892
acquisition deposit		4,000,000		25,500,000	25,500,000		17,094,000		37,500,000		43,000,000	28,500,000	17,000,000		40,650,000		9,400,000	17,500,000		225,000	774,000				31,000,000			20,000,000
accrued liabilities		273,435,000	290,792,000	237,244,000	215,833,000	161,507,000	147,943,000	154,882,000	178,783,000	162,066,000	121,737,000	114,850,000	127,613,000	137,593,000	105,590,000	100,443,000	91,724,000	72,667,000	68,673,000	70,203,000	54,216,000	101,302,000		90,114,000	83,880,000
accrued interest		26,637,000	25,992,000	28,034,000	26,804,000	28,044,000	26,219,000	32,074,000	28,925,000	15,221,000	24,347,000	5,967,000	20,996,000	5,519,000	20,498,000	4,248,000	16,877,000	5,769,000	8,341,000	8,442,000	7,895,000	9,308,000		17,567,000	15,050,000	16,901,000		10,266,623	4,859,913	18,839,931		18,693,327	4,666,667	18,666,667		18,670,814	4,713,232	19,358,330	4,713,232	4,713,232	13,491,862	3,472,894	13,488,970	13,333,333	3,333,333	8,199,330	9,022,667
other current liabilities		5,467,000	4,705,000	1,751,000	2,061,000	1,936,000	2,130,000	2,016,000	1,879,000	1,905,000	1,781,000	2,983,000	2,323,000	2,541,000	1,722,000	1,635,000	1,843,000	1,018,000	1,087,000	1,000,000	906,000	891,000		387,000	566,000	724,000
total stockholders’ equity			2,320,435,000				2,047,676,000				745,260,000				215,135,000				-223,304,000				558,643,000					11,209,973										-28,341,723		-197,602,114	668,310,607	609,458,365	613,228,164	600,865,097	623,455,564	596,661,717			510,047,011	496,570,055
total liabilities and stockholders’ equity			5,603,822,000				4,484,255,000				2,875,178,000																	1,068,949,402										1,001,236,168		721,430,948	1,796,574,655	1,734,182,649	1,598,047,200	1,452,735,780	1,352,562,790	1,263,731,481			869,807,816	725,593,919
contingent consideration										3,931,000	10,107,000	1,859,000				242,000	513,000	618,000	493,000					10,058,000	36,992,000	37,160,000		8,334,160
retained deficit							-77,790,000				-1,000,759,000				-1,773,996,000				-1,780,356,000									-1,015,176,760	-1,034,155,333	-937,608,635		-916,725,044	-900,637,578	-914,439,437		-919,049,564			-637,886,252																				-3,413,393	-4,285,212	-4,568,677
income tax payable								2,051,000		353,000
liabilities and stockholders' equity
preferred stock, par value 0.001; 5,000,000 authorized;zero shares outstanding at 12/31/20222,218,732 shares outstanding at 12/31/2021
preferred stock, par value .001; 5,000,000 shares authorized; 1,643,732 series a shares outstanding at 9/30/2022 2,218,732 series a shares outstanding at 12/31/2021												2,000
preferred stock, par value .001; 5,000,000 shares authorized; 1,643,732 series a shares outstanding at 6/30/2022 2,218,732 series a shares outstanding at 12/31/2021													2,000
preferred stock, par value .001; 5,000,000 shares authorized; 1,856,061 series a shares outstanding at 3/31/2022 2,218,732 series a shares outstanding at 12/31/2021														2,000
current portion of long-term debt																			65,000,000	65,000,000	65,000,000	65,000,000
stockholders' equity
preferred stock, par value 0.001; 5,000,000 authorized2,218,732 shares outstanding at 12/31/20212,218,732 shares outstanding at 12/31/2020															2,000
total liabilities and stockholders' equity															1,522,866,000				872,089,000																		733,945,448														595,971,749							62,875,539	51,285,555	38,333,728	20,909,888	18,131,464
preferred stock, par value .001; 5,000,000 shares authorized; 2,218,732 series a shares outstanding at 9/30/2021 2,218,732 series a shares outstanding at 12/31/2020																2,000
deferred income taxes																								420,000	420,000	420,000		785,000	785,000	785,000
preferred stock, par value 0.001; 5,000,000 authorized2,218,732 shares outstanding at 12/31/20201,500,000 shares outstanding at 12/31/2019																			2,000
balance sheet information:
assets:
liabilities:
debt exchange derivative																									2,791,000	9,225,000		6,030,363	10,923,000
preferred stock, par value .001; 5,000,000 authorized, no shares outstanding
accrued expenses																										1,823,000		6,334,045	5,916,909	6,607,642		10,041,145	5,772,668	4,721,006		5,201,185	7,893,975	6,266,474	7,893,975	7,893,975	4,933,500	3,016,337	2,479,401	3,493,161	2,253,743	1,062,778	2,769,351	4,848,262	1,112,942	131,012	2,960,868	1,440,211	439,790	2,358,824	1,938,696	676,376	316,977	1,270,075	3,296	3,885	15,175	110,993
total stockholders' equity																											429,865,000				-490,841,000				-487,422,000		-197,602,114														494,498,685							49,464,474	46,908,194	35,007,971	18,715,789	17,907,217
prepaid and other incomes																													5,584,787	2,454,565		2,278,674	2,905,975	2,472,317		1,200,717	892,867	983,612	892,867	892,867	1,792,569	1,735,379	1,063,734
liabilities and stockholders’ deficit
stockholders’ deficit
total stockholders’ deficit																													-147,820,258	-488,776,484		-470,604,426	-455,470,972	-470,090,298		-476,060,458			-197,602,114
total liabilities and stockholders’ deficit																													883,082,503	664,470,446		494,365,880	481,305,903	449,244,727		410,372,136			721,430,948
revenues
oil, natural gas, and ngl sales																													109,046,878	86,880,814
gain on derivative instruments																													-42,202,788	-20,271,451		-12,663,253	16,513,032	16,960,883		3,381,564			-22,211,048
other revenue																													1,809	4,100		4,321	7,844	7,742		8,650			9,909
total revenues																													66,845,899	66,613,463		41,598,659	64,901,882	65,816,847		45,109,408			40,863,194
operating expenses
production expenses																													14,548,922	12,488,422		12,605,513	12,137,540	11,674,348		10,920,651			13,564,801
production taxes																													10,131,843	7,922,314		5,064,761	4,439,774	4,461,265		4,045,291			6,871,788
general and administrative expenses																													3,251,239	1,666,875		7,985,719	4,317,139	3,608,943
depletion, depreciation, amortization and accretion																													22,596,028	18,630,629		15,357,685	13,682,452	12,828,143		13,698,020			36,745,805
total operating expenses																													50,528,032	40,708,240		41,013,678
income from operations																													16,317,867	25,905,223		584,981	30,324,977	33,244,148		-29,473,638			-302,539,733
other income																													371,783	166,635		184	181	180		183			199
interest expense, net of capitalization																													-22,403,373	-23,106,761		-16,672,632	-16,428,164	-16,303,805		-16,145,440			-14,387,693
write-off of debt issuance costs																																	-95,135
loss on the extinguishment of debt																													-90,832,975
total other income																													-112,864,565	-22,940,126		-16,672,448	-16,523,118	-16,303,625		-16,145,257			-14,387,494
income before income taxes																													-96,546,698	2,965,097		-16,087,467	13,801,859	16,940,523		-45,618,895			-316,927,227
income tax benefit																																							-66,866,610
net income																													-96,546,698	2,965,097		-16,087,467	13,801,859	16,940,523		-45,618,895			-250,060,617
net income per common share – basic																													-0.49	0.05		-0.26	0.22	0.28		-0.74			-4.12
net income per common share – diluted																													-0.49	0.05		-0.26	0.22	0.27		-0.74			-4.12
weighted-average shares outstanding – basic																													196,140,610	65,215,148		61,843,377	61,643,862	61,446,156		61,237,627			60,644,635
weighted-average shares outstanding – diluted																													196,140,610	65,382,772		61,843,377	61,885,952	61,972,123		61,237,627			60,644,635
current maturities of long-term debt																																155,000,000
oil and gas sales																																54,257,591	48,381,006	48,848,222		41,719,194			63,064,333
impairment of oil and natural gas properties																																				43,820,791			281,964,097
total expenses																																	34,576,905	32,572,699		74,583,046			343,402,927
revolving line of credit																																			144,000,000
8% senior notes																																			688,625,000		697,804,829	697,676,782			508,424,779	508,796,460	509,168,142
trade receivables																																				32,856,099	58,230,113	91,293,591	51,445,026	51,445,026	88,575,478	90,924,750	82,201,632	92,201,013	69,571,190	75,890,491	79,324,983	66,063,522	61,365,535	51,418,830	44,561,467	35,586,298	27,027,334	17,841,344	11,311,742	7,993,935	7,025,011	2,028,941	1,541,207	916,770	220,015
general and administrative expense																																				2,098,293			4,256,436
current assets
property and equipment
less - accumulated depreciation, depletion, and impairment																																					-1,759,281,704
debt issuance costs																																					15,810,259	16,831,376			14,541,339	15,050,983	15,750,691	16,868,802		11,390,927	12,211,806	12,444,823	3,633,570	1,386,201	1,329,302	1,186,783	1,277,732	1,446,521	1,525,703	1,276,673	1,427,071
current liabilities
deferred taxes
long-term liabilities
revolving credit facility																																					150,000,000	170,000,000			228,000,000	198,000,000	138,000,000	45,000,000		139,000,000	68,000,000		177,500,000	69,900,000	15,000,000
total long-term liabilities																																					853,432,415	873,159,019			889,179,868	855,259,811	775,260,360	666,733,938	610,380,940	532,125,811	435,079,683	361,418,844	228,837,951	109,363,269	43,443,106	2,445,578	9,784,986
the accompanying notes are an integral part of these financial statements.
deferred tax asset																																						31,695,562			3,312,000	20,436,000	12,702,000	10,896,000	3,350,000	5,061,000			6,625,000	4,472,000		6,203,000	11,884,000	863,000	863,000	863,000	2,057,000	1,433,000
less – accumulated depreciation and depletion																																									-409,239,931	-363,735,124	-321,596,322	-247,019,968	214,952,621	188,793,939
8% senior notes, net of accumulated amortization of bond premium of 588,496 at september 30, 2013 and 0 at december 31, 2012																																												509,911,504
debt issuance costs, net of accumulated amortization of 4,033,478 at june 30, 2013 and 2,872,598 at december 31, 2012																																													16,310,025
8% senior notes, net of accumulated amortization of bond premium of 216,814 at june 30, 2013 and 0 at december 31, 2012																																													510,283,186
prepaid expenses																																														782,327	758,476	875,212	995,145	486,421	457,492	518,841	396,474	417,913	481,371	209,347	143,606	71,554	121,897	127,450		25,680
other current assets																																														209,048	280,052	240,551	389,656	317,460	290,306	211,015	753,661	303,848	272,392	313,285	201,314				115,633
8% senior notes due 2020																																														300,000,000	300,000,000	300,000,000
less - accumulated depreciation and depletion																																															135,352,039	107,294,624	81,672,508	63,265,919	48,329,024	37,504,043	29,084,148	13,454,548	9,626,536	6,999,433	5,091,198	856,010	375,238	172,135	52,646
derivative liability																																																	14,916,895	9,363,068		14,279,978	27,954,596	2,105,190		2,170,153	1,320,679
other liabilities																																																	28,585	33,229	18,574	18,574	18,574	18,574	18,574	18,574	18,574	135,731
accumulated other comprehensive loss																																																		-62,309	-253,185
short - term investments																																																					24,866,660			17,483,941	24,903,476
preferred stock, par value.001; 5,000,000 authorized,
no shares outstanding
prepaid drilling costs																																																			28,016,106	15,755,429	15,350,719	7,052,815	6,431,446	5,949,234	1,454,034	4,549	24,376	804,343		364,290
derivative asset																																																			8,475,550				1,068,924				81,800
preferred stock, par value .001; 5,000,000authorized, no shares outstanding
oil and natural gas properties, full cost method (including unevaluated costs of
105,415,622 at 9/30/2010 and 53,862,529 at 12/31/2009)																																																						205,430,775
line of credit																																																								31,377	834,492	1,650,720
oil and natural gas properties, full cost method (including unevaluated cost of
86,422,227 at 6/30/2010 and 53,862,529 at 12/31/2009)																																																							156,185,056
other receivables																																																								237,877
69,531,236 at 3/31/10 and 53,862,529 at 12/31/2009)																																																								119,597,744
long - term investments
subordinated notes																																																									500,000
accumulated other comprehensive income																																																									-2,210,620	-240,774	-147,749	-903,174	-141,074
* see note 2
other receivable																																																										874,453
42,621,297 at 12/31/2008 and 7,587,511 at 12/31/2007)																																																										55,680,567
long-term investments																																																										2,416,369
accrued drilling costs																																																										8,419,729	2,614,855	1,048,458
outstanding																																																										34,121	34,025	32,282	28,901	28,696
accumulated deficit																																																										-2,021,649
property and equipment, at cost
oil and natural gas properties, full cost method																																																											39,529,287
available for sale securities																																																											3,320,975
margin loan																																																											988,439	999,907
short-term investments																																																												3,389,350	3,659,450
16,592,550 at 6/30/08 and 7,587,511 at 12/31/2007)																																																												20,653,774
derivative liabilities																																																												847,200
additional paid in capital, shares to be issued																																																												321,713
13,209,500 at 3/31/08 and 7,587,511 at 12/31/2007)																																																													14,752,693
checks issued, not cashed																																																													177,741
short term loan																																																													1,519,487
obligations to issue stock																																																													205,960
restricted cash
oil and natural gas properties – unproved, using full cost accounting:
leasehold interest – montana																																																														1,366,966
leasehold interest – north dakota																																																														3,417,738
leasehold interest - new york																																																														2,802,807
total oil and natural gas properties – unproved																																																														7,587,511
office equipment and furniture																																																														41,323
other assets
deposit – msp leasehold
deposit – southfork leasehold
deposit – kntx shell
total other assets
investor subscriptions net of issuance costs
convertible notes payable
preferred stock, par value .001; 100,000 authorized, 0 outstanding
subscriptions receivable
deficit accumulated during exploration stage																																																														-4,381,400

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