(Trondheim, 22 April 2026) OKEA ASA (OSE: OKEA) will publish its financial report for the first quarter of 2026 on Wednesday 29 April at 06:00 (CEST). This trading update is provided to summarise production and sales volumes and related updates for the quarter.
First quarter 2026 production and sales:
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| Unit | Q1 2026 | Q4 2025 | Q1 2025 |
| Total operating income | MUSD | 239 | 107 | 271 |
| Realised crude oil price | USD/boe | 79.5 | 62.1 | 77.7 |
| Realised NGL price | USD/boe | 46.4 | 40.9 | 47.0 |
| Realised liquids price | USD/boe | 74.2 | 52.4 | 72.8 |
| Realised gas price | USD/boe | 76.5 | 57.4 | 84.4 |
| Net production | Kboepd | 34.9 | 30.8 | 34.2 |
| Third-party volumes available for sale | Kboepd | -0.2 | -0.1 | -0.2 |
| Over/underlift/Inventory adjustments | Kboepd | 4.4 | -10.4 | 5.0 |
| Net sold volume* | Kboepd | 39.1 | 20.4 | 39.1 |
| Net sold volumes - crude oil | Kboepd | 23.7 | 6.1 | 24.5 |
| Net sold volumes - NGL | Kboepd | 4.4 | 5.0 | 4.6 |
| Net sold volumes - gas* | Kboepd | 11.0 | 9.3 | 9.9 |
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| Cash and interest bearing debt: |
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| Unit | 31.03.2026 | 31.12.2025 | 31.03.2025 |
| Total cash** | MUSD | 269 | 308 | 367 |
| Interest bearing bonds | MUSD | 295 | 295 | 247 |
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* Includes delivered compensation volumes to Duva and Nova (tie-in to Gjøa)
** Total cash including money market funds
Expected reversal of previous impairments
Reversal of previous impairment charges on Statfjord in the range of USD 140-170 million are expected recognised in the first quarter mainly due to increased forward prices. Related post-tax impact is expected at USD 30-37 million.
Expected hedging loss
Total operating income of USD 239 million includes unrealised hedging losses of USD 29 million. The hedging loss was a result of increased forward prices at the reporting date.
The information contained in this statement is based on a preliminary assessment of the company's financial and operational results for the first quarter 2026 and may be subject to change.
First quarter 2026 financial report to be published on 29 April.
OKEA will release its first quarter 2026 results on Wednesday 29 April at 06:00 CEST. 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 CEST (OKEA Webcast Q1 2026 (royalcast.com). The presentation will be held by Svein J. Liknes (CEO) and Birte Norheim (CFO).