Okea ASA
OSE:OKEA
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Okea ASA
OSE:OKEA
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Americold Realty Trust
NYSE:COLD
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Xwell Inc
NASDAQ:XWEL
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Okea ASA
Okea AS engages in the development and production of oil and gas. The company is headquartered in Trondheim, Sor-Trondelag. The company went IPO on 2019-06-18. The firm has an asset portfolio including the Draugen field, which is operated by OKEA, as well as non-operated positions. Furthermore, OKEA has activities in projects under development, including the Hasselmus gas discovery and Draugen power from shore, as well as discoveries being evaluated for development and exploration licences with planned and possible wells. As an operator on the NCS, OKEA carries out various activities related to production of hydrocarbons from existing assets, as well as development of new oil and gas fields. These activities take place at multiple locations both offshore and onshore.
Okea AS engages in the development and production of oil and gas. The company is headquartered in Trondheim, Sor-Trondelag. The company went IPO on 2019-06-18. The firm has an asset portfolio including the Draugen field, which is operated by OKEA, as well as non-operated positions. Furthermore, OKEA has activities in projects under development, including the Hasselmus gas discovery and Draugen power from shore, as well as discoveries being evaluated for development and exploration licences with planned and possible wells. As an operator on the NCS, OKEA carries out various activities related to production of hydrocarbons from existing assets, as well as development of new oil and gas fields. These activities take place at multiple locations both offshore and onshore.
Production Beat: OKEA delivered strong operational performance, meeting its full-year 2025 production guidance with stable output across assets.
Financial Impact: Despite high activity, the quarter saw a net loss of $18 million due to significant underlift and asset impairments driven by lower forward prices.
Price Declines: Realized crude and liquids prices dropped sharply, with crude down 12% and liquids down 20% compared to the previous quarter.
2027 Outlook Raised: The company increased 2027 production guidance by more than 20% versus 2025 and lowered 2027 CapEx guidance by nearly 30%.
Project Progress: Key development projects like Bestla and Draugen Power from Shore are on track, with Bestla production now expected to start earlier, in early 2027.
Cash Position: OKEA remains net cash positive, with no debt maturities until mid-2028.
Dividend Update: No immediate dividend plan was announced; management cites macro conditions and bond restrictions as key considerations.
