OKEA ASA: Second Quarter 2026 Financial Results
OKEA ASA has reported its financial results for the second quarter of 2026. The company saw an increase in operating income and an improvement in EBITDA compared to the previous quarter.
Trondheim, Norway – OKEA ASA announced its financial results for the second quarter of 2026. The company's operating income reached USD 334 million, a significant increase from USD 239 million in the previous quarter. EBITDA also rose to USD 207 million, up from USD 129 million in the prior quarter.
Lower forward prices at the balance sheet date resulted in impairments totaling USD 94 million. This compares to a reversal of impairments amounting to USD 154 million in the preceding quarter. The net impact after tax was an expense of USD 27 million, contrasting with an income of USD 34 million previously.
Net profit for the quarter stood at USD 14 million. Total cash reserves increased to USD 355 million from USD 269 million at the end of the prior quarter. This shift resulted in a net cash position of USD 59 million, compared to a net debt of USD 26 million.
OKEA has completed planned maintenance shutdowns on its fields.