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Petronor E&P ASA
OSE:PNOR

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Petronor E&P ASA
OSE:PNOR
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Price: 13.32 NOK 3.74% Market Closed
Market Cap: kr1.9B

Petronor E&P ASA
Investor Relations

Petronor E&P ASA engages in the exploration and production of oil and gas. The company is headquartered in Oslo, Oslo. The company went IPO on 2022-02-28. The key strategy of the Group is, in addition to developing existing assets and organic growth, to acquire additional oil and gas licences and pursue acquisition opportunities. The firm holds exploration and production assets in Africa through subsidiaries and joint ventures, namely the offshore PNGF Sud production licenses in the Republic of Congo, (through its subsidiary HEPCO), the Sinapa (Block 2) and Esperanca (Blocks 4A and 5A) licenses offshore Guinea-Bissau (through its subsidiary PetroNor E&P AB (previously SPE Guinea Bissau AB16)), the A4 license offshore The Gambia (through its wholly owned subsidiary PetroNor E&P Gambia Ltd).

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Feb 20, 2026
AI Summary
Q4 2025

Operational Strength: Q4 saw strong production gains, with new wells increasing net output to over 5,000 barrels per day and reversing previous declines.

Legal Proceedings: The company’s subsidiary Hemla Africa Holding has been indicted in Norway for suspected corruption, sparking a court process expected to last until at least 2027, with potential appeals stretching into 2028 or 2029.

Balance Sheet: PetroNor ended the year with nearly $60 million in cash and no debt, reflecting robust financial health.

Shareholder Returns: Nearly $56 million was returned to shareholders in 2025; future dividends will be decided by the Board, factoring in legal and operational outlook.

Aje Project: Redevelopment planning continues, with final investment decision targeted for early 2027 and estimated CapEx around $0.5 billion.

Production Outlook: Oil inventory is building at about 100,000 barrels per month, with the next oil sale expected in Q2.

Guidance: The company withheld specific 2026 dividend guidance, pending Board review in May.

Key Financials
Revenue
$83 million
EBITDA
$63 million
Cash Flow from Operations
$61 million
Cash
just shy of $60 million
Net Production
4,600 barrels per day average for the year; 5,400 barrels per day exit rate
Gross Field Production (PNGF Sud)
32,000 barrels per day
Oil Inventory
250,000 barrels at year-end
Operating Expenses
$20 million ($12 per barrel)
Admin Costs
$8 million
Shareholder Capital Return
nearly $56 million in 2025
Capital Expenditure
$20 million
Aje Field Working Interest
52%
Aje Field 2C Resources
78.2 million barrels
PNGF Sud 2P Reserves
17 million barrels
Aje Project CapEx Estimate
about $0.5 billion
Earnings Call Recording
Other Earnings Calls

Management

Mr. Jens Pace
Chief Executive Officer
No Bio Available
Mr. Christopher Butler
Group Financial Controller
No Bio Available
Mr. Claus Frimann-Dahl
Chief Technical Officer
No Bio Available
Ms. Angeline Hicks B.Comm, ICAA
Company Secretary
No Bio Available

Contacts

Address
OSLO
Oslo
Froyas gate 13
Contacts
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