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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.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.
- 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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