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OKEA second quarter 2026 trading update
(Trondheim, 9 July 2026) OKEA ASA (OSE: OKEA) will publish its financial report for the second quarter of 2026 on Thursday 16 July at 06:00 (CEST). This trading update is provided to summarise production and sales volumes and related updates for the quarter.
Second quarter 2026 production and sales:
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| Unit | Q2 2026 | Q1 2026 | Q2 2025 |
| Total operating income* | MUSD | 334 | 239 | 206 |
| Realised crude oil price | USD/boe | 116.9 | 79.5 | 68.4 |
| Realised NGL price | USD/boe | 55.3 | 46.4 | 41.2 |
| Realised liquids price | USD/boe | 104.2 | 74.2 | 63.1 |
| Realised gas price | USD/boe | 88.1 | 76.5 | 71.4 |
| Net production | Kboepd | 27.0 | 34.9 | 31.7 |
| Third-party volumes available for sale | Kboepd | -0.2 | -0.2 | 0.0 |
| Over/underlift/Inventory adjustments | Kboepd | 7.6 | 4.4 | 1.3 |
| Net sold volume** | Kboepd | 34.4 | 39.1 | 33.0 |
| Net sold volumes - crude oil | Kboepd | 20.2 | 23.7 | 19.2 |
| Net sold volumes - NGL | Kboepd | 5.3 | 4.4 | 4.7 |
| Net sold volumes - gas** | Kboepd | 9.0 | 11.0 | 9.1 |
| Cash and interest bearing debt: |
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| Unit | 30.06.2026 | 31.03.2026 | 30.06.2025 |
| Total cash*** | MUSD | 355 | 269 | 464 |
| Interest bearing bonds | MUSD | 296 | 295 | 422 |
* Total operating income includes a net hedging gain of USD 14 million
** Includes delivered compensation volumes to Duva and Nova (tie-in to Gjøa)
*** Total cash including money market funds
Expected impairments
As a result of reduced forward prices, impairment charges on Statfjord asset in the range of USD 80-100 million and impairment of technical goodwill on Draugen in the range of USD 5-10 million are expected recognised in the second quarter. The related post-tax impact is expected at USD 25-30 million.
The information contained in this statement is based on a preliminary assessment of the company's financial and operational results for the second quarter 2026 and may be subject to change.
Second quarter 2026 financial report to be published on 16 July.
OKEA will release its second quarter 2026 results on Thursday 16 July at 06:00 CEST. A presentation of the results and a Q&A session will be held on the same day through a webcast and audio conference starting 10:00 CEST (OKEA Webcast Q2 2026 (royalcast.com). The presentation will be held by Svein J. Liknes (CEO) and Birte Norheim (CFO).