OKEA will publish its financial report for the third quarter of 2026 on 3 November at 06:00 (CET). This trading update is provided to summarise production and sales volumes and related updates for the quarter.
Third quarter 2026 production and sales:
* Total operating income includes a gain on sale of the Mistral discovery of USD 28 million and a net hedging loss of USD 20 million
** Includes delivered compensation volumes to Duva and Nova (tie-in to Gjøa)
*** Total cash includes money market funds
Impairment charges
USD 25–40 million in impairment charges are expected. The non-cash charges relate to a fixed asset impairment on Statfjord as a result of reduced volume estimates and increased capex, partly offset by an increase in forward prices. The related post-tax impact is expected to amount to USD 6-9 million.
In addition, USD 23 million in previously capitalised costs related to the Alpehumle and Prince exploration wells were expensed in the quarter. The related post-tax impact amounted to USD 5 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 2026 and may be subject to change.
Third quarter 2026 financial report to be published on 3 November
Source: OKEA
