(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:
Unit Q1 2026 Q4 2025 Q1 2025
Total operating MUSD 239 107 271
income
Realised crude oil USD/boe 79.5 62.1 77.7
price
Realised NGL price USD/boe 46.4 40.9 47.0
Realised liquids USD/boe 74.2 52.4 72.8
price
Realised gas price USD/boe 76.5 57.4 84.4
Net production Kboepd 34.9 30.8 34.2
Third-party volumes Kboepd -0.2 -0.1 -0.2
available for sale
Over/underlift/Inven Kboepd 4.4 -10.4 5.0
tory adjustments
Net sold volume* Kboepd 39.1 20.4 39.1
Net sold volumes - Kboepd 23.7 6.1 24.5
crude oil
Net sold volumes - Kboepd 4.4 5.0 4.6
NGL
Net sold volumes - Kboepd 11.0 9.3 9.9
gas*
Cash and interest
bearing debt:
Unit 31.03.2026 31.12.2025 31.03.2025
Total cash** MUSD 269 308 367
Interest bearing MUSD 295 295 247
bonds
* 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
Q (https://qcnl.tv/p/6GCVbu6Yh8wi2bWTscUTZA)1 (https://qcnl.tv/p/6GCVbu6Yh8wi2bW
T
scUTZA)202 (https://qcnl.tv/p/6GCVbu6Yh8wi2bWTscUTZA)6 (https://qcnl.tv/p/6GCVbu
6
Yh8wi2bWTscUTZA)(royalcast.com) (https://qcnl.tv/p/6GCVbu6Yh8wi2bWTscUTZA). 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