AI assistant
OKEA ASA — Earnings Release 2025
Jan 27, 2026
3701_rns_2026-01-27_f1e1e5b1-7955-46d7-b7ce-327f69fb0baa.pdf
Earnings Release
Open in viewerOpens in your device viewer
{0}------------------------------------------------
OKEA fourth quarter 2025 trading update
(Trondheim, 27 January 2026) OKEA ASA (OSE: OKEA) will publish its financial report for the fourth quarter of 2025 on Tuesday 3 February at 06:00 (CET). This trading update is provided to summarise production and sales volumes and related updates for the quarter.
Fourth quarter 2025 production and sales:
| Unit | Q4 2025 | Q3 2025 | 2025 | |
|---|---|---|---|---|
| Total operating income | MUSD | 107 | 224 | 808 |
| Realised crude oil price | USD/boe | 62.1 | 70.6 | 71.7 |
| Realised NGL price | USD/boe | 40.9 | 40.6 | 42.3 |
| Realised liquids price | USD/boe | 52.4 | 65.3 | 65.5 |
| Realised gas price | USD/boe | 57.4 | 65.7 | 69.9 |
| Net production | Kboepd | 30.8 | 31.7 | 32.1 |
| Third-party volumes available for sale | Kboepd | -0.1 | -0.1 | -0.1 |
| Over/underlift/Inventory adjustments | Kboepd | -10.4 | 4.7 | 0.1 |
| Net sold volume* | Kboepd | 20.4 | 36.3 | 32.1 |
| Net sold volumes - crude oil | Kboepd | 6.1 | 22.6 | 18.1 |
| Net sold volumes - NGL | Kboepd | 5.0 | 4.8 | 4.8 |
| Net sold volumes - gas* | Kboepd | 9.3 | 8.8 | 9.3 |
| Unit | 31.12.2025 | 30.09.2025 | |
|---|---|---|---|
| Total cash** | MUSD | 308 | 418 |
| Interest bearing bonds | MUSD | 295 | 295 |
* Includes delivered compensation volumes to Duva and Nova (tie-in to Gjøa)
2025 production and capex
Production for 2025 ended at 32.1 kboepd, within the guidance of 32-33 kboepd.
Capex for 2025 ended at USD 362 million, within the guidance of USD 350-380 million.
Expected impairments
Non-cash impairment charges in the range of USD 50-70 million are expected recognised in the fourth quarter mainly due to reduced forward prices. Related post-tax impact is expected at USD 15- 20 million.
The information contained in this statement is based on a preliminary assessment of the company's financial and operational results for the fourth quarter 2025 and may be subject to change.
Fourth quarter 2025 financial report to be published on 3 February.
OKEA will release its fourth quarter 2025 results on Tuesday 3 February 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 Q4 2025 (royalcast.com). The presentation will be held by Svein J. Liknes (CEO) and Birte Norheim (CFO).
** Total cash including money market funds
{1}------------------------------------------------
For further information, please contact:
Stig Hognestad, VP Investor Relations [email protected] +47 902 59 040
About OKEA
OKEA ASA is a leading mid- and late-life operator on the Norwegian continental shelf (NCS). OKEA finds value where others divest and has an ambitious strategy built on growth, value creation and capital discipline.
OKEA is listed on the Oslo Stock Exchange (OSE:OKEA).
More information at www.okea.no