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).