OKEA: Fourth quarter 2021 financial results
(Trondheim, 11 February 2022) - OKEA ASA (OSE: OKEA) reported a net profit after tax of NOK 283 (97) million in the fourth quarter of 2021. Total operating income was NOK 1 725 (1 026) million, and EBITDA was NOK 1 258 (797) million. Total liquidity (cash and cash equivalents and financial investments) increased to NOK 2 249 (1 504) million. OKEA today also announces 2P reserves of 48.3 mmboe including the Ivar Aasen transaction – an increase of 16% compared to year end 2020. Production guiding for 2022 is 18 500-20 000 boepd, an increase from the previous outlook of 18 000-19 000. (