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

bearing debt:

 

 

 

 

 

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)

** Total cash including money market funds
 

 

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).