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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
OKEA
OKEA (OKEA) investor relations material
OKEA Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary3 Nov, 2026
Executive summary
Production averaged 29.1 kboepd, up from 27.0 kboepd QoQ, with 89% production efficiency; 2026 guidance narrowed to 31–32 kboepd, at the high end.
Net profit was USD 29 million; cash and equivalents were USD 414 million and total cash including money-market funds was USD 476 million, leaving net cash of USD 180 million.
Bestla is ahead of plan and below its previous cost estimate, with production expected before year-end 2026; quarterly dividends resume in December.
Springmus East and Talisker West were sanctioned, with production targeted for 2027.
Financial highlights
Total operating income was USD 332 million, including a USD 28 million Mistral sale gain and a USD 20 million net hedging loss; petroleum revenue was USD 316 million.
Net profit was USD 29 million; EBITDA was USD 192 million and operating profit was USD 103 million.
Realised crude price fell 17% to USD 96.6/bbl, while gas rose 38% to USD 121.3/boe equivalent; higher realised gas and NGL prices partly offset lower sold volumes and crude prices.
Cash from operations was USD 182 million; capex was USD 80 million and investing cash flow was USD -67 million, including Mistral sale proceeds.
Exploration expense was USD 28 million; the USD 33 million Statfjord impairment reflected lower reserves and higher planned capex.
Outlook and guidance
2026 production guidance narrowed to 31–32 kboepd from 29–32 kboepd; 2027 guidance remains 39–43 kboepd.
2026 capex guidance narrowed to USD 320–340 million; 2027 guidance increased to USD 260–320 million, mainly reflecting Springmus East acceleration.
Bestla is expected to start production before year-end 2026; Springmus East and Talisker West are targeted for H2 2027.
USD 64 million in tax instalments is due in Q4 2026; 2027 maintenance shutdowns are not planned until Q2.
2027 shareholder distributions are intended to be at least NOK 1.00 per share quarterly, subject to quarterly review of market conditions, outlook and investment opportunities.
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Latest events from OKEA
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Next OKEA earnings date
Q4 202626 Jan, 2027
OKEA
Next OKEA earnings date
Q4 202626 Jan, 2027
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Frequently asked questions
OKEA ASA is an independent oil and gas company focused on the development and production of hydrocarbon resources on the Norwegian Continental Shelf. The company specializes in managing mid- to late-life assets, aiming to optimize production from mature fields while also exploring and developing new opportunities. Key assets in its portfolio include operated and non-operated interests in fields such as Draugen, Brage, Gjøa, Ivar Aasen, and Yme. OKEA's operations are primarily offshore, with ongoing projects involving gas discoveries and power-from-shore initiatives to enhance efficiency and sustainability. The company is headquartered in Trondheim, Norway, and its shares are listed on the Oslo Stock Exchange.