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Petrolia NOCO (PNO) investor relations material
Petrolia NOCO Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2026 EBITDA was NOK 115.7 million and net profit was NOK 3.9 million; cash increased NOK 89.5 million to NOK 234.6 million.
Net production rose to 2,605 boe/day from 1,881 boe/day in Q2, while revenue declined to NOK 186.0 million from NOK 218.0 million.
Financial highlights
Revenue was NOK 186.0 million in Q3, versus NOK 218.0 million in Q2 and NOK 169.2 million in Q3 2025; YTD 2026 revenue was NOK 648.3 million.
EBITDA was NOK 115.7 million, versus NOK 100.2 million in Q2 and NOK 122.1 million in Q3 2025; YTD 2026 EBITDA was NOK 383.0 million.
Operating profit was NOK 67.7 million, versus NOK 66.1 million in Q2; net profit was NOK 3.9 million, versus NOK 8.5 million in Q2 and NOK 7.6 million in Q3 2025.
Net financial items were negative NOK 18.8 million and tax expense was NOK 45.1 million in Q3.
Average realised oil price was USD 98.8/bbl, compared with USD 101.9/bbl in Q2; gas averaged USD 123.4/boe and NGL USD 52.3/boe.
Outlook and guidance
Talisker West production well drilling is scheduled for 2027, with start-up targeted for H2; no Brage wells are planned in 2026 during the Bestla tie-in programme.
PL 1210, PL 1252 and PL 1256 are progressing toward drill-or-drop decisions in Q1 2027; PL 1258 decision is due December 2026.
Dugong and Beta partners are assessing co-development via a Snorre facilities tie-back, with production targeted for Q4 2029.
- Q2 2026 saw lower production but higher oil prices, improved liquidity, and reduced debt.PNO
Q2 2026 - Record Q1 2026 production and earnings fueled by new well and higher oil prices.PNO
Q1 2026 - Lower Q4 revenues and production offset by new discoveries and future growth prospects.PNO
Q4 2025 - Major oil discovery, higher production, and return to profit marked Q3 2025.PNO
Q3 2025 - Q2 2025 posted a net loss amid lower oil prices, but Talisker discoveries boost reserves.PNO
Q2 2025 - Q3 2024 revenue and profit declined on maintenance, but cash flow and new wells support future growth.PNO
Q3 2024 - Q2 2024 delivered solid profits and production, with new sales agreements and field progress.PNO
Q2 2024 - Revenue rose and net profit returned in Q1 2025, with five new licences awarded.PNO
Q1 2025 - Net loss driven by Løvmeis costs, but new licences and Dugong progress support future outlook.PNO
Q4 2024
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