OKEA third quarter 2025 trading update
(Trondheim, 29 October 2025) OKEA ASA (OSE: OKEA) will publish its financial report for the third quarter of 2025 on Tuesday 4 November at 06:00 (CET). This trading update is provided to summarise production and sales volumes and related updates for the quarter.
Third quarter 2025 production and sales:
|
|
Unit |
Q3 2025 |
Q2 2025 |
|
Total operating income |
MUSD |
224 |
206 |
|
Realised crude oil price |
USD/boe |
70.6 |
68.4 |
|
Realised NGL price |
USD/boe |
40.6 |
41.2 |
|
Realised liquids price |
USD/boe |
65.3 |
63.1 |
|
Realised gas price |
USD/boe |
65.7 |
71.4 |
|
Net production |
Kboepd |
31.7 |
31.7 |
|
Third-party volumes available for sale |
Kboepd |
-0.1 |
0.0 |
|
Over/underlift/Inventory adjustments |
Kboepd |
4.7 |
1.3 |
|
Net sold volume* |
Kboepd |
36.3 |
33.0 |
|
Net sold volumes - crude oil |
Kboepd |
22.6 |
19.2 |
|
Net sold volumes - NGL |
Kboepd |
4.8 |
4.7 |
|
Net sold volumes - gas* |
Kboepd |
8.8 |
9.1 |
|
|
|
|
|
|
|
Unit |
30.09.2025 |
30.06.2025 |
|
Total cash |
MUSD |
418 |
464 |
|
Interest bearing bonds** |
MUSD |
295 |
422 |
* Includes delivered compensation volumes to Duva and Nova (tie-in to Gjøa)
** Interest bearing bonds comprise the OKEA5 (USD 125 million) and OKEA06 (USD 175 million) bonds. OKEA04 (USD 125 million) was settled in July.
Expected impairments
Non-cash impairment charges in the range of USD 130-170 million are expected recognised in the third quarter mainly as a result of reduction in estimated reserves at Statfjord area and Draugen (Hasselmus). In addition, future cost reductions at Statfjord area are considered less likely. Related post-tax impact is expected at USD 40-50 million.
The information contained in this statement is based on a preliminary assessment of the company’s financial and operational results for the third quarter 2025 and may be subject to change.
Third quarter 2025 financial report to be published on 4 November.
OKEA will release its third quarter 2025 results on Tuesday 4 November at 06:00 CET. A presentation of the results will be held on the same day through a webcast and audio conference starting 10:00 CET (OKEA Webcast Q3 2025 (royalcast.com). 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
