(Trondheim, 9 July 2026) OKEA ASA (OSE: OKEA) will publish its financial report for the second quarter of 2026 on Thursday 16 July at 06:00 (CEST). This trading update is provided to summarise production and sales volumes and related updates for the quarter.
Second quarter 2026 production and sales:
Unit Q2 2026 Q1 2026 Q2 2025 Total operating MUSD 334 239 206 income* Realised crude oil USD/boe 116.9 79.5 68.4 price Realised NGL price USD/boe 55.3 46.4 41.2 Realised liquids USD/boe 104.2 74.2 63.1 price Realised gas price USD/boe 88.1 76.5 71.4 Net production Kboepd 27.0 34.9 31.7 Third-party volumes Kboepd -0.2 -0.2 0.0 available for sale Over/underlift/Inven Kboepd 7.6 4.4 1.3 tory adjustments Net sold volume** Kboepd 34.4 39.1 33.0 Net sold volumes - Kboepd 20.2 23.7 19.2 crude oil Net sold volumes - Kboepd 5.3 4.4 4.7 NGL Net sold volumes - Kboepd 9.0 11.0 9.1 gas** Cash and interest bearing debt: Unit 30.06.2026 31.03.2026 30.06.2025 Total cash*** MUSD 355 269 464 Interest bearing MUSD 296 295 422 bonds
* Total operating income includes a net hedging gain of USD 14 million
** Includes delivered compensation volumes to Duva and Nova (tie-in to Gjøa)
*** Total cash including money market funds
Expected impairments
As a result of reduced forward prices, impairment charges on Statfjord asset in the range of USD 80-100 million and impairment of technical goodwill on Draugen in the range of USD 5-10 million are expected recognised in the second quarter. The related post-tax impact is expected at USD 25-30 million.
The information contained in this statement is based on a preliminary assessment of the company's financial and operational results for the second quarter 2026 and may be subject to change.
Second quarter 2026 financial report to be published on 16 July.
OKEA will release its second quarter 2026 results on Thursday 16 July 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/-ZU-g4x2R6g7hq065U5Rvw)2 (https://qcnl.tv/p/-ZU -g4x2R6g7hq065U5Rvw)202 (https://qcnl.tv/p/-ZU -g4x2R6g7hq065U5Rvw)6 (https://qcnl.tv/p/-ZU -g4x2R6g7hq065U5Rvw)(royalcast.co (https://qcnl.tv/p/-ZU -g4x2R6g7hq065U5Rvw)m) (https://qcnl.tv/p/-ZU-g4x2R6g7hq065U5Rvw). 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
More information: Access the news on Oslo Bors NewsWeb site