Annual report pursuant to Section 13 and 15(d)

BALANCE SHEETS

v2.4.1.9
BALANCE SHEETS (USD $)
Dec. 31, 2014
Dec. 31, 2013
CURRENT ASSETS    
Cash and Cash Equivalents $ 9,337,512us-gaap_CashAndCashEquivalentsAtCarryingValue $ 5,687,166us-gaap_CashAndCashEquivalentsAtCarryingValue
Trade Receivables 85,931,719us-gaap_AccountsReceivableNetCurrent 86,816,981us-gaap_AccountsReceivableNetCurrent
Advances to Operators 930,034nog_AdvancesToOperators 618,786nog_AdvancesToOperators
Prepaid and Other Expenses 895,088us-gaap_PrepaidExpenseAndOtherAssets 770,740us-gaap_PrepaidExpenseAndOtherAssets
Derivative Instruments 128,893,220us-gaap_DerivativeAssetsCurrent 62,890us-gaap_DerivativeAssetsCurrent
Deferred Tax Asset 0us-gaap_DeferredTaxAssetsNetCurrent 10,431,000us-gaap_DeferredTaxAssetsNetCurrent
Total Current Assets 225,987,573us-gaap_AssetsCurrent 104,387,563us-gaap_AssetsCurrent
Oil and Natural Gas Properties, Full Cost Method of Accounting    
Proved 2,167,452,297us-gaap_CapitalizedCostsProvedProperties 1,611,073,747us-gaap_CapitalizedCostsProvedProperties
Unproved 50,642,433us-gaap_CapitalizedCostsUnprovedProperties 70,148,348us-gaap_CapitalizedCostsUnprovedProperties
Other Property and Equipment 1,870,369us-gaap_PropertyPlantAndEquipmentOther 1,701,366us-gaap_PropertyPlantAndEquipmentOther
Total Property and Equipment 2,219,965,099us-gaap_PropertyPlantAndEquipmentGross 1,682,923,461us-gaap_PropertyPlantAndEquipmentGross
Less - Accumulated Depreciation and Depletion (458,038,546)us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment (285,616,752)us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
Total Property and Equipment, Net 1,761,926,553us-gaap_PropertyPlantAndEquipmentNet 1,397,306,709us-gaap_PropertyPlantAndEquipmentNet
DERIVATIVE INSTRUMENTS 25,013,011us-gaap_DerivativeAssetsNoncurrent 1,745,405us-gaap_DerivativeAssetsNoncurrent
DEBT ISSUANCE COSTS 13,819,195us-gaap_DeferredFinanceCostsNoncurrentNet 16,160,283us-gaap_DeferredFinanceCostsNoncurrentNet
TOTAL ASSETS 2,026,746,332us-gaap_Assets 1,519,599,960us-gaap_Assets
CURRENT LIABILITIES    
Accounts Payable 231,557,547us-gaap_AccountsPayableCurrent 168,936,785us-gaap_AccountsPayableCurrent
Accrued Expenses 6,653,124us-gaap_AccruedLiabilitiesCurrent 2,645,178us-gaap_AccruedLiabilitiesCurrent
Accrued Interest 3,585,536us-gaap_InterestPayableCurrent 3,386,409us-gaap_InterestPayableCurrent
Derivative Instruments 0us-gaap_DerivativeLiabilitiesCurrent 19,119,646us-gaap_DerivativeLiabilitiesCurrent
Deferred Tax Liability 43,938,000us-gaap_DeferredTaxLiabilitiesCurrent 0us-gaap_DeferredTaxLiabilitiesCurrent
Total Current Liabilities 285,734,207us-gaap_LiabilitiesCurrent 194,088,018us-gaap_LiabilitiesCurrent
LONG-TERM LIABILITIES    
Revolving Credit Facility 298,000,000us-gaap_LongTermLineOfCredit 75,000,000us-gaap_LongTermLineOfCredit
8% Senior Notes 508,053,097us-gaap_UnsecuredLongTermDebt 509,539,823us-gaap_UnsecuredLongTermDebt
Derivative Instruments 579,070us-gaap_DerivativeLiabilitiesNoncurrent 637,208us-gaap_DerivativeLiabilitiesNoncurrent
Other Noncurrent Liabilities 5,105,762us-gaap_OtherLiabilitiesNoncurrent 3,832,550us-gaap_OtherLiabilitiesNoncurrent
Deferred Tax Liability 158,412,555us-gaap_DeferredTaxLiabilitiesNoncurrent 116,674,000us-gaap_DeferredTaxLiabilitiesNoncurrent
Total Long-Term Liabilities 970,150,484us-gaap_LiabilitiesNoncurrent 705,683,581us-gaap_LiabilitiesNoncurrent
TOTAL LIABILITIES 1,255,884,691us-gaap_Liabilities 899,771,599us-gaap_Liabilities
COMMITMENTS AND CONTINGENCIES (NOTE 8)      
STOCKHOLDERS' EQUITY    
Preferred Stock, Par Value $.001; 5,000,000 Authorized, No Shares Outstanding 0us-gaap_PreferredStockValue 0us-gaap_PreferredStockValue
Common Stock, Par Value $.001; 95,000,000 Authorized (12/31/2014 - 61,066,712 Shares Outstanding and 12/31/2013 - 61,858,199 Shares Outstanding) 61,067us-gaap_CommonStockValue 61,858us-gaap_CommonStockValue
Additional Paid-In Capital 433,332,285us-gaap_AdditionalPaidInCapitalCommonStock 446,044,159us-gaap_AdditionalPaidInCapitalCommonStock
Retained Earnings 337,468,289us-gaap_RetainedEarningsAccumulatedDeficit 173,722,344us-gaap_RetainedEarningsAccumulatedDeficit
Total Stockholders' Equity 770,861,641us-gaap_StockholdersEquity 619,828,361us-gaap_StockholdersEquity
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,026,746,332us-gaap_LiabilitiesAndStockholdersEquity $ 1,519,599,960us-gaap_LiabilitiesAndStockholdersEquity