Norway's Aker BP beats Q1 revenue expectations

Aker BP ASA

07/05/2026 05:12

Overview

Norway oil and gas producer's Q1 revenue beat analyst expectations

Company achieved stable production and brought Symra project on stream ahead of schedule

Q1 capex rose due to high development activity across portfolio

Outlook

Aker BP says guidance for 2026 remains unchanged

Company expects Yggdrasil and Valhall PWP-Fenris projects to deliver first oil in 2027

Aker BP says oil market volatility persists due to Middle East uncertainty

Result Drivers

PRODUCTION EFFICIENCY - Co reported stable production averaging 398 mboepd with 97% efficiency across its portfolio

SYMRRA START-UP - Symra project achieved first oil nine months ahead of schedule, adding near-term production

Company press release: ID:nWkr9HZQcw

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$3 bln
$2.86 bln (9 Analysts)
Q1 Capex
$1.60 bln
Q1 Dividend
$0.66


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 8 "strong buy" or "buy", 9 "hold" and 5 "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy."

Wall Street's median 12-month price target for Aker BP ASA is NOK320.00, about 5.8% below its May 6 closing price of NOK339.80

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 17 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)