DNO, the Norwegian oil and gas operator, will publish its Q3 2026 operating and interim financial results on 29 October. Today, the Company provides an update on production, sales volumes, prices and other selected information for the quarter.
Volumes (boepd)
| Net production | Q3 2026 | Q2 2026 | Q3 2025 |
| North Sea | 85,364 | 84,912 | 77,324 |
| Kurdistan | 54,914 | 273 | 34,929 |
| West Africa | 2,488 | 3,246 | 3,143 |
| Sales | Q3 2026 | Q2 2026 | Q3 2025 |
| North Sea | 94,732 | 80,511 | 79,419 |
| Kurdistan | 28,058 | - | 14,449 |
| Gross operated production | Q3 2026 | Q2 2026 | Q3 2025 |
| North Sea | 4,402 | 5,448 | 11,508 |
| Kurdistan | 73,219 | 363 | 46,572 |
Realized prices (USD/boe)
| North Sea | Q3 2026 | Q2 2026 | Q3 2025 |
| Oil | 99.6 | 115.1 | 72.0 |
| Gas | 122.9 | 89.5 | 63.8 |
| NGL | 62.1 | 69.0 | 40.5 |
| Kurdistan | Q3 2026 | Q2 2026 | Q3 2025 |
| Oil | 38.5 | - | 31.2 |
North Sea
On 30 September, DNO completed the previously announced multi-asset transaction with Vår Energi ASA, through which it acquired a five percent interest in the Gjøa field and Gjøa Nord discovery in exchange for interests in Nova and Ringhorne Nord. Including customary adjustments, DNO received net cash proceeds of USD 20.3 million at closing. The transaction streamlines the Company’s Norwegian Continental Shelf (NCS) portfolio and secures a strategic ownership in the offshore Gjøa hub.
DNO participated in one appraisal well and one pilot well on the NCS during the quarter. The Afrodite appraisal well in PL293 (10 percent interest) was spudded on 15 July, with operations still ongoing at the end of the quarter. In connection with production drilling at the Symra field (20 percent), a pilot well was drilled to appraise previous discoveries in the Heimdal Formation. With a post-drill estimate of 8-15 million barrels of oil equivalent from the new well, estimated recoverable Symra field volumes increased by up to 25 percent.
Kurdistan
On 28 June, DNO resumed production from the Tawke field and on 11 July from the Peshkabir field. All payments for DNO’s share of oil from these fields during the quarter were made to the Company’s international bank accounts in advance of oil deliveries.
West Africa
On 14 September, DNO completed the sale of DNO CI LLC, the company through which DNO held its interests in Côte d’Ivoire, to Panoro Energy ASA. Based on an effective date of 1 January 2025, total consideration was USD 86.5 million. At closing, DNO had received total cash consideration of USD 48.0 million, including a USD 5.0 million deposit received earlier in the quarter, as well as seven million new Panoro shares. The shares will be recorded as a financial investment in the balance sheet.
Net production for Q3 2026 in the table above includes production until completion of the sale.
Selected cash flow items
In the third quarter, DNO paid a dividend of NOK 0.375 per share (totaling USD 39.2 million), which represents NOK 1.5 per share on an annualized basis. DNO also paid taxes totaling USD 136.4 million in Norway related to estimated 2026 taxable profit on the NCS.
Source: DNO
