Norway's BlueNord Q1 revenue beats estimates on Tyra hub production

Bluenord ASA

04/05/2026 06:10

Overview

Norway oil and gas producer's Q1 revenue rose, beating analyst expectations

EBITDA increased to $201 mln, supported by higher production at Tyra

Company proposed $100 mln Q1 cash dividend, representing 70% of net operating cash flow

Outlook

Company expects Tyra production to increase further in the second half of 2026

BlueNord says improved stability and fewer shutdowns provide positive momentum for Q2

Company remains focused on maximizing distributions while maintaining a conservative capital structure

Result Drivers

TYRA HUB PRODUCTION - Co said higher production at Tyra hub, with its highest quarterly contribution since restart, drove revenue growth

OPERATIONAL EXECUTION - Successful execution of March walk-to-work campaign at Tyra brought c. 80% of well stock onstream, increasing available well potential

HEDGING STRATEGY - Co said hedging provided full downside protection on expected production while maintaining meaningful exposure to higher oil and gas prices

Company press release: ID:nWkr1V5Pry

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$318 mln
$289.48 mln (3 Analysts)
Q1 Adjusted Free Cash Flow
$141 mln
Q1 EBITDA
$201 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and 1 "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 Bluenord ASA is NOK545.00, about 7.5% below its April 30 closing price of NOK589.00

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 7 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.)