Honors Program


Document Type


Date of this Version



Hansen, J. 2023. Northern Oil & Gas Strategic Audit. Undergraduate Honors Thesis. University of Nebraska-Lincoln.


Copyright Jacob Hansen 2023


Northern Oil & Gas is an energy company that operates in various basins across the United States. The company utilizes a non-operating model, meaning it does not drill wells or operate rigs, but rather partners with operators and acquires fractional working interests in drilling units. This report seeks to understand Northern Oil & Gas’ business model by examining its competitive strategy, advantages, and resources. Internal and external environmental factors are also analyzed using both PESTEL analysis and Porter’s Five Forces. In addition, key challenges facing the company are explored and recommendations are given on how Northern Oil & Gas can overcome these obstacles and sustain a competitive advantage.