NOG’s Appalachian Gas Hits a Record, Passes the Bakken as #2 Basin

Northern Oil and Gas (NOG) is a Minnesota company that owns interests in wells operated by other drillers. It released its third-quarter 2026 update last Thursday (Nov. 5). Most of it is the usual Permian and Bakken talk, but there's good news for our region tucked inside. NOG's Appalachian production set another record in Q3, averaging 42.7 Mboe/d (thousand barrels of oil equivalent per day). That's just enough to slip past the Williston/Bakken (where NOG got its start!) and make the Marcellus/Utica (M-U) NOG's #2 basin by volume, behind only the Permian. Appalachia now supplies more than half of all the natural gas NOG produces. The catch? Our gas still sells at a discount, and management is pitching the region as a steady, low-cost producer, not a growth engine.

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