Q3 2025 Trading Update and Invitation to Earnings Call
Globenewswire·2025-10-14 05:00

Core Viewpoint - DNO ASA, a Norwegian oil and gas operator, is set to release its Q3 2025 operating and interim financial results on November 6, 2025, and has provided an update on production and sales volumes for the quarter [1]. Production and Sales Volumes - Gross operated production in Kurdistan for Q3 2025 was 46,572 barrels of oil equivalent per day (boepd), a decrease from 74,760 boepd in Q2 2025 and 84,212 boepd in Q3 2024 [2]. - North Sea production reached 11,508 boepd in Q3 2025, up from 5,526 boepd in Q2 2025 [2]. - Net entitlement production in Kurdistan was 14,449 boepd in Q3 2025, down from 18,675 boepd in Q2 2025 and 17,607 boepd in Q3 2024 [2]. - North Sea net entitlement production increased to 77,323 boepd in Q3 2025 from 33,348 boepd in Q2 2025 [2]. - Sales volumes in Kurdistan were 14,449 barrels in Q3 2025, consistent with net entitlement production [2]. - North Sea sales volumes rose to 79,419 barrels in Q3 2025 from 32,393 barrels in Q2 2025 [2]. - Equity accounted production in Côte d'Ivoire was 3,143 barrels in Q3 2025, slightly down from 3,174 barrels in Q2 2025 [2]. Financial Highlights - DNO paid a dividend of NOK 0.375 per share in Q3 2025, totaling USD 36.2 million, which annualizes to NOK 1.50 per share [3]. - The company made two tax installments totaling USD 52.9 million in Norway related to estimated 2025 taxable results on the Norwegian Continental Shelf [3]. - DNO repaid a USD 300 million bank bridge loan facility during the quarter, which was used for the acquisition of Sval Energi Group AS [4]. Exploration Activities - DNO participated in two exploration wells on the Norwegian Continental Shelf (NCS) during the quarter [5]. - The Vidsyn well in PL586, in which DNO holds a 25 percent interest, was spudded on June 14 and completed on July 31, being announced as a discovery [5]. - The Page well in PL1086, where DNO has a 50 percent operated interest, was spudded on September 1, with drilling ongoing at the end of the quarter [5].