Northern Oil & Gas (NOG) is a Minnesota company most people file under "Bakken," so its quarterly report doesn't usually land on our radar. NOG is the largest publicly traded non-operator in the country — it buys minority working interests and lets somebody else run the rig — and after last week's second quarter release, Appalachia is its biggest gas engine. Marcellus-Utica volumes set another company record, and CEO Nick O'Grady said NOG has quietly spent north of $100 million buying Utica drilling locations in the past year, with lease bonuses up "50-plus percent" since the campaign began. To view this content, log into your member account. (Not a member?