Schedule 13G: State Street Reports 4.74M NOG Shares, 4.8% Ownership

Rhea-AI Filing Summary

Northern Oil & Gas, Inc. (NOG) is the subject of a Schedule 13G filed by State Street Corporation, which discloses beneficial ownership of 4,743,995 shares, representing 4.8% of the class. The filer reports shared voting power of 4,489,008 and shared dispositive power of 4,743,995, with no sole voting or dispositive power.

The filing lists several State Street advisory subsidiaries—including SSGA Funds Management, Inc. and multiple State Street Global Advisors entities—indicating the holdings are managed through advisory vehicles. The filer classifies itself as HC and certifies the securities are held in the ordinary course of business and not to influence control.

Positive

• State Street Corporation discloses beneficial ownership of 4,743,995 NOG shares (4.8% of class)
• Holdings are managed through named State Street advisory subsidiaries, providing transparency about the managerial vehicles

Negative

• None.

Insights

Financial Analyst

TL;DR: State Street reports a sizeable institutional holding (4.8%), but below a 5% control threshold.

The Schedule 13G discloses 4,743,995 shares beneficially owned by State Street, equal to 4.8% of the class. Reported powers are shared rather than sole, with 4,489,008 shares subject to shared voting and 4,743,995 to shared dispositive power. The filing names multiple State Street advisory subsidiaries as the relevant holders, and Item 10 affirms the securities are held in the ordinary course of business and not to influence control. This filing appears routine for an institutional advisor managing client assets.

Corporate Governance Expert

TL;DR: Reported holdings are managed via advisory vehicles and do not indicate control or sole authority.

The report classifies the reporting person as HC and lists advisory subsidiaries such as SSGA Funds Management, Inc. and several State Street Global Advisors entities, implying discretionary management through adviser structures. The filer states no sole voting or dispositive power, which limits claims of control. Because reported ownership is 4.8%, below typical 5% thresholds, this disclosure is material for ownership transparency but does not signal governance change.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

NORTHERN OIL & GAS INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

665531307

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 665531307

1

Names of Reporting Persons

STATE STREET CORPORATION

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MASSACHUSETTS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,489,008.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,743,995.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,743,995.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.8 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: NORTHERN OIL & GAS INC
(b)	Address of issuer's principal executive offices: 4350 BAKER ROAD SUITE 400 , MINNETONKA, MINNESOTA, 55343
Item 2.
(a)	Name of person filing: STATE STREET CORPORATION;
(b)	Address or principal business office or, if none, residence: ONE CONGRESS STREET, SUITE 1, BOSTON MA 02114, UNITED STATES
(c)	Citizenship: MA
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 665531307
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 4743995.00
(b)	Percent of class: 4.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 4,489,008
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 4,743,995
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. NOT APPLICABLE
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. SSGA FUNDS MANAGEMENT, INC. (IA);STATE STREET GLOBAL ADVISORS ASIA LIMITED (IA);STATE STREET GLOBAL ADVISORS EUROPE LIMITED (IA);STATE STREET GLOBAL ADVISORS LIMITED (IA);STATE STREET GLOBAL ADVISORS TRUST COMPANY (IA);STATE STREET GLOBAL ADVISORS, LTD. (IA);
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. NOT APPLICABLE
Item 9.	Notice of Dissolution of Group.
	Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. NOT APPLICABLE

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

STATE STREET CORPORATION

Signature:	ELIZABETH SCHAEFER
Name/Title:	SENIOR VICE PRESIDENT, CHIEF ACCOUNTING OFFICER
Date:	08/08/2025

FAQ

How many NOG shares does State Street Corporation report owning?

4,743,995 shares beneficially owned, representing 4.8% of the class

Does State Street have sole voting power over NOG shares?

No; the filing shows sole voting power 0 and shared voting power 4,489,008

Does State Street have the right to dispose of the NOG shares?

Shared dispositive power for 4,743,995 shares; sole dispositive power 0

Did the filer state whether the holdings are intended to influence control of NOG?

The filer certifies the securities are held in the ordinary course of business and not to change or influence control

Which State Street subsidiaries are identified as relevant holders?

SSGA Funds Management, Inc.; State Street Global Advisors Asia Limited; State Street Global Advisors Europe Limited; State Street Global Advisors Limited; State Street Global Advisors Trust Company; State Street Global Advisors, Ltd.