Norway's BlueNord Q4 revenue misses analyst expectations

Bluenord ASA

24/02/2026 06:09

Overview

Energy company's Q4 revenue missed analyst expectations

Company proposed USD 115 mln cash dividend for Q4

Company refinanced reserve-based lending facility, extending maturity to 2031

Outlook

BlueNord expects increased production through first half of 2026

Company anticipates lower annual capital expenditure of USD 100-150 mln over 2027-2030

Company invited to explore extending DUC license from 2042 to 2050

Result Drivers

PRODUCTION INCREASE - Net hydrocarbon production reached 42.4 mboepd, the highest quarterly production in BlueNord's history, driven by ramp-up at Tyra hub and stable base assets

EFFICIENCY IMPROVEMENT - Planned shutdown at Tyra completed, improving efficiency and reducing unplanned shutdowns

CAPITAL EXPENDITURE REDUCTION - Reworking of Halfdan North and Valdemar Bo South projects to enhance returns, with lower expected annual capital expenditure

Company press release: ID:nWkr2H51ff

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Miss
$270 mln
$290.25 mln (4 Analysts)
Q4 Adjusted Free Cash Flow
$168 mln
Q4 EBITDA
$186 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 3 "hold" and no "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 NOK530.00, about 13% above its February 23 closing price of NOK469.00

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 6 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.)