The WACC of Northern Oil and Gas Inc (NOG) is 9.6%.
| Range | Selected | |
| Cost of equity | 9.40% - 13.30% | 11.35% |
| Tax rate | 0.20% - 1.50% | 0.85% |
| Cost of debt | 4.80% - 6.90% | 5.85% |
| WACC | 7.9% - 11.3% | 9.6% |
| Category | Low | High |
| Long-term bond rate | 3.9% | 4.4% |
| Equity market risk premium | 4.6% | 5.6% |
| Adjusted beta | 1.2 | 1.5 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 9.40% | 13.30% |
| Tax rate | 0.20% | 1.50% |
| Debt/Equity ratio | 0.45 | 0.45 |
| Cost of debt | 4.80% | 6.90% |
| After-tax WACC | 7.9% | 11.3% |
| Selected WACC | 9.6% | |