Northern Oil and Gas, Inc. Quarterly report pursuant to Section 13 or 15(d)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2016

Capitalized costs are summarized as follows for the three months ended March 31, 2016 and 2015, respectively.



	Three Months Ended March 31,
	2016		2015
Capitalized Certain Payroll and Other Internal Costs	$	782,162	$	425,428
Capitalized Interest Costs	130,924		737,750
Total	$	913,086	$	1,163,178

The reconciliation of the denominators used to calculate basic EPS and diluted EPS for the three months ended March 31, 2016 and 2015 are as follows:



	Three Months Ended March 31,
	2016	2015
Weighted Average Common Shares Outstanding – Basic	60,964,029	60,556,180
Plus: Potentially Dilutive Common Shares Including Stock Options and Restricted Stock	—	—
Weighted Average Common Shares Outstanding – Diluted	60,964,029	60,556,180

Restricted Stock and Stock Options Excluded From EPS Due To The Anti-Dilutive Effect	911,861	144,420