OKEA delivered net profit of NOK 23 million in the first quarter of 2021
Operating income for the first quarter amounted to NOK 524 million, EBITDA was NOK 240 million, and net profit after tax was NOK 23 million. Earnings per share amounted to NOK 0.22. OKEA’s cash position increased by NOK 107 million to NOK 978 million. Interest-bearing debt amounted to NOK 2,402 million. Production increased by 400 boepd in the quarter to 16,557 boepd due to production start from the two P1 wells at Gjøa in February and high reliability and availability at the Draugen and Gjøa fields. Sold volumes were 15,198 boepd. The average realised price for liquids was USD 49.5 per