Petrolia NOCO
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Petrolia NOCO (PNO) investor relations material

Petrolia NOCO Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary24 Aug, 2026

Executive summary

  • Q2 2026 saw EBITDA of NOK 100.2 million and net profit of NOK 8.5 million, with production impacted by a five-week planned maintenance shutdown at Brage, reducing output to 1,881 boe/day from 3,337 boe/day in Q1.

  • Revenues declined to NOK 218.0 million from NOK 244.3 million in Q1, but realized oil prices rose to USD 105.8/bbl due to Middle East disruptions.

  • Cash position improved to NOK 145.1 million, and interest-bearing debt decreased to NOK 187.5 million.

Financial highlights

  • Revenue for Q2 2026 was NOK 218.0 million, down from NOK 244.3 million in Q1, mainly due to lower production.

  • EBITDA was NOK 100.2 million, and operating profit was NOK 66.1 million, both lower sequentially.

  • Net profit was NOK 8.5 million, compared to NOK 13.8 million in Q1.

  • Cash flow from operations reached NOK 114.3 million, up from NOK 38.2 million in Q1.

  • Production costs increased to NOK 84.7 million, and exploration expenses rose to NOK 25.7 million.

Outlook and guidance

  • No new Brage wells planned for 2026; Talisker West well scheduled for 2027.

  • Dugong (PL 882) co-development under assessment, with production start targeted for Q4 2029.

  • Multiple North Sea licences maturing towards drill-or-drop decisions in 2026 and 2027.

Impact of Bestla tie-in on Brage drilling plans
Dugong co-development and Snorre tie-back plan
PL 1259 operatorship and 100% interest request
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Q3 202617 Nov, 2026
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