OKEA Q3 trading update
OKEA third quarter 2026 trading update
Third quarter 2026 production and sales:
|
|
Unit |
Q3 2026 |
Q2 2026 |
Q3 2025 |
|
Total operating income* |
MUSD |
332 |
334 |
224 |
|
Realised crude oil price |
USD/boe |
96.6 |
116.9 |
70.6 |
|
Realised NGL price |
USD/boe |
58.4 |
55.3 |
40.6 |
|
Realised liquids price |
USD/boe |
94.6 |
104.2 |
65.3 |
|
Realised gas price |
USD/boe |
121.3 |
88.1 |
65.7 |
|
Net production |
Kboepd |
29.1 |
27.0 |
31.7 |
|
Third-party volumes available for sale |
Kboepd |
-0.5 |
-0.2 |
-0.1 |
|
Over/underlift/Inventory adjustments |
Kboepd |
4.9 |
7.6 |
4.7 |
|
Net sold volume** |
Kboepd |
33.4 |
34.4 |
36.3 |
|
Net sold volumes - crude oil |
Kboepd |
22.3 |
20.2 |
22.6 |
|
Net sold volumes - NGL |
Kboepd |
1.2 |
5.3 |
4.8 |
|
Net sold volumes - gas** |
Kboepd |
10.0 |
9.0 |
8.8 |
|
Cash and interest bearing debt: |
|
|
|
|
|
|
Unit |
30.09.2026 |
30.06.2026 |
30.09.2025 |
|
Total cash*** |
MUSD |
476 |
355 |
418 |
|
Interest bearing bonds |
MUSD |
296 |
296 |
295 |
* Total operating income includes a gain on sale of the Mistral discovery of USD 28 million and a net hedging loss of USD 20 million
** Includes delivered compensation volumes to Duva and Nova (tie-in to Gjøa)
*** Total cash includes money market funds
Impairment charges
USD 25–40 million in impairment charges are expected. The non-cash charges relate to a fixed asset impairment on Statfjord as a result of reduced volume estimates and increased capex, partly offset by an increase in forward prices. The related post-tax impact is expected to amount to USD 6-9 million.
In addition, USD 23 million in previously capitalised costs related to the Alpehumle and Prince exploration wells were expensed in the quarter. The related post-tax impact amounted to USD 5 million.
The information contained in this statement is based on a preliminary assessment of the company’s financial and operational results for the third quarter 2026 and may be subject to change.
Third quarter 2026 financial report to be published on 3 November
OKEA will release its third quarter 2026 results on Tuesday 3 November at 06:00 CET. 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 CET (OKEA Webcast Q3 2026 (royalcast.com). The presentation will be held by Svein J. Liknes (CEO) and Birte Norheim (CFO).