(Trondheim, 27 October 2026) OKEA ASA (OSE: OKEA) will publish its financial
report for the third quarter of 2026 on Tuesday 3 November at 06:00 (CET). This
trading update is provided to summarise production and sales volumes and related
updates for the quarter.
Third quarter 2026 production and sales:
Unit Q3 2026 Q2 2026 Q3 2025
Total operating MUSD 332 334 224
income*
Realised crude oil USD/boe 96.6 116.9 70.6
price
Realised NGL price USD/boe 58.4 55.3 40.6
Realised liquids USD/boe 94.6 104.2 65.3
price
Realised gas price USD/boe 121.3 88.1 65.7
Net production Kboepd 29.1 27.0 31.7
Third-party volumes Kboepd -0.5 -0.2 -0.1
available for sale
Over/underlift/Inven Kboepd 4.9 7.6 4.7
tory adjustments
Net sold volume** Kboepd 33.4 34.4 36.3
Net sold volumes - Kboepd 22.3 20.2 22.6
crude oil
Net sold volumes - Kboepd 1.2 5.3 4.8
NGL
Net sold volumes - Kboepd 10.0 9.0 8.8
gas**
Cash and interest
bearing debt:
Unit 30.09.2026 30.06.2026 30.09.2025
Total cash*** MUSD 476 355 418
Interest bearing MUSD 296 296 295
bonds
* 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) (https://qcnl.tv/p/9i4qAo4FtWGLbl1DJlgvCg). The
presentation will be held by Svein J. Liknes (CEO) and Birte Norheim (CFO).
For further information, please contact:
Stig Hognestad, VP Investor Relations
stig.hognestad@okea.no
+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
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