(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:
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| 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: |
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| 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).