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:
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| 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 |
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| 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).