Exhibit 99.1 NOG Provides Fourth Quarter Update MINNEAPOLIS—(BUSINESS WIRE)—Northern Oil and Gas, Inc. (NYSE: NOG) ("NOG" or the "Company") today provided an update on a number of business matters including fourth quarter hedging results, an update on ground game transactions and a non- cash impairment charge. BUSINESS UPDATE Unrealized mark-to-market gains on derivatives for the fourth quarter were an estimated $84.0 – $88.0 million, driven by changes to the value of the Company's derivatives portfolio. Re ...

Core Thesis - Northern Oil and Gas, Inc. (NOG) is positioned as a structurally advantaged platform in the U.S. energy sector, utilizing a non-traditional operational model that focuses on financial and data-driven strategies rather than direct management of field operations [2][3] Company Overview - NOG engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States [2] - The company's share price was $24.82 as of January 29th, with trailing and forward P/E ratios of 13.64 and 11.14 respectively [1] Strategic Approach - NOG has adopted a non-operated acquisition strategy that leverages information, timing, and disciplined capital allocation, allowing it to navigate challenges such as cost inflation and labor constraints faced by traditional operators [3] - The company has focused on strategic debt extensions and balance-sheet strengthening, enabling it to expand through selective, high-return mergers and acquisitions during periods when competitors were retreating [4] Competitive Advantage - NOG's model transforms volatility into a competitive edge by analyzing extensive datasets and partnering with top operators, which enhances the durability and optionality of its asset portfolio [3][5] - The company's hedging discipline has insulated cash flows, allowing it to compound capital through downturns rather than merely surviving them [4] Long-term Value Creation - NOG is characterized as a deep-cycle compounding machine that consistently deploys capital where returns are highest, converting volatility into sustainable free cash flow and long-term value creation [5]

Group 1 - The company is scheduled to hold its Fourth Quarter 2025 Earnings Conference Call on February 26, 2026, at 8:00 a.m. Central Time [1] - Participants can join the call by dialing (800) 715-9871 for domestic calls or (646) 932-3411 for international calls [1] - The conference ID for the call is 4503139, and there will also be a webcast available for attendees [1]

Group 1: Venezuela Oil Market Situation - Venezuela, with larger oil reserves than Saudi Arabia, is currently producing nearly 1 million barrels per day, significantly lower than its peak of over 3 million barrels per day [1] - The removal of President Maduro raises questions about the future of Venezuelan oil production, but the oil market has not reacted significantly due to outdated infrastructure and a 12-to-18-month timeline for meaningful export increases [2] Group 2: Northern Oil and Gas Overview - Northern Oil and Gas produced over 131,000 barrels per day as of Q3 2025, with an 8% increase from the same quarter in 2024, but overall revenue decreased by 9% due to low energy prices [5] - The stock is currently valued attractively with a price-to-earnings (P/E) ratio of 11.4, significantly lower than the S&P 500's P/E ratio of 31 [6] - Despite reporting a revenue of $2.2 billion over the past 12 months, Northern Oil and Gas has a negative free cash flow of $177 million, which could threaten future valuations and dividends [7] Group 3: Investment Potential - Northern Oil and Gas offers a high dividend yield of 8.2%, more than double that of Chevron's 3.2%, making it an attractive option for investors amid global energy uncertainty [9] - The company’s business model focuses on keeping costs low while increasing well counts, indicating expanding operations despite the challenges of free cash flow [8]

Core Viewpoint - Investors are increasingly focusing on heavily shorted stocks, either to capitalize on further declines in value or to benefit from potential short squeezes [1][3]. Group 1: Characteristics of Heavily Shorted Stocks - A stock is considered "heavily shorted" when a significant number of traders and institutional investors believe it is fundamentally overvalued, leading to expectations of a price decline [2]. - High short interest often indicates a strong conviction among professional traders that the company faces serious risks, while retail traders may see it as an opportunity for rapid gains through a short squeeze [3]. Group 2: Short Squeeze Dynamics - A short squeeze occurs when a stock's price unexpectedly rises, forcing short sellers to buy back shares to cover their positions, which creates a spike in demand and further drives up the price [4]. - The volatility associated with a short squeeze can result in returns that significantly exceed typical stock movements within a short time frame [4]. Group 3: Most Heavily Shorted Stocks - As of December 29, the following stocks are the most heavily shorted, with market caps above $2 billion and free floats above 5 million: - Lucid Group, Inc. (NASDAQ:LCID) - 54.51% - Choice Hotels International, Inc. (NYSE:CHH) - 50.20% - Avis Budget Group, Inc. (NASDAQ:CAR) - 48.80% - Revolve Group, Inc. (NYSE:RVLV) - 43.14% - Medical Properties Trust, Inc. (NYSE:MPW) - 37.13% - MARA Holdings, Inc. (NASDAQ:MARA) - 36.23% - Hims & Hers Health, Inc. (NYSE:HIMS) - 35.22% - TransMedics Group, Inc. (NASDAQ:TMDX) - 35.11% - Kohl's Corporation (NYSE:KSS) - 34.27% - Northern Oil & Gas, Inc. (NYSE:NOG) - 33.27% [5][6].

Core Viewpoint - Northern Oil and Gas, Inc. has updated its hedge profile following a recent joint acquisition in Ohio's Utica region, emphasizing its strategy to protect its capital program through financial derivative instruments [1] Hedging Update - The company continues to implement its policy of entering into financial derivative instruments to lock in future commodity prices for a portion of its expected production [1] - Northern Oil and Gas has added substantial gas hedges as part of its risk management strategy [1]

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Core Insights - The article highlights a free two-week trial offer for the Distressed Value Investing community, which provides exclusive research on various companies and investment opportunities [1] - The author, Aaron Chow, has over 15 years of analytical experience and co-founded a mobile gaming company that was acquired by PENN Entertainment, showcasing his expertise in the industry [2] Company and Industry Summary - Distressed Value Investing focuses on value opportunities and distressed plays, particularly in the energy sector, indicating a strategic emphasis on sectors that may offer significant returns despite current challenges [2] - The community includes access to a portfolio of historic research with over 1,000 reports on more than 100 companies, suggesting a comprehensive resource for investors seeking in-depth analysis [1]

Core Viewpoint - The article discusses the current landscape of heavily shorted stocks, highlighting the reasons traders engage in short selling and the potential for short squeezes as investment opportunities [2][3][4]. Summary by Sections Heavily Shorted Stocks - Stocks become heavily shorted when experienced traders and institutional investors believe the company is fundamentally overvalued, anticipating a price decline [2]. - Short sellers borrow shares, sell them at high prices, and aim to repurchase them at lower prices for profit, indicating a strong conviction about the company's risks [3]. Current Market Data - As of December 10, 2025, the top 10 most shorted stocks with market caps above $2 billion and free floats above 5 million are listed, ranked by short interest percentage [5]. - The most heavily shorted stock is Lucid Group, Inc. (NASDAQ: LCID) with a short interest of 52.70%, followed by Avis Budget Group, Inc. (NASDAQ: CAR) at 51.53% and Choice Hotels International, Inc. (NYSE: CHH) at 49.05% [6][7]. Market Characteristics - Heavily shorted stocks often reflect a battleground between negative fundamentals and speculative trading, where short squeezes can lead to significant, rapid gains but also come with high risk and volatility [8]. - Monitoring short interest can help identify potential short squeeze candidates, although timing such trades is challenging [8].

Group 1 - The article discusses the importance of enabling Javascript and cookies in browsers to prevent access issues [1] - It highlights that users with ad-blockers may face restrictions when trying to access content [1]