Norway's BlueNord Q3 revenue beats on higher output, commodity prices

Bluenord ASA

28/10/2026 06:14

Overview
European oil and gas producer's Q3 revenue rose, beating analyst expectations
Higher production and commodity prices drove quarterly revenue growth
Shareholders approved proposed merger with Vår Energi; closing expected around year-end

Outlook
Company expects merger with Vår Energi to close around year-end 2026

Result Drivers
HIGHER SALES VOLUMES AND PRICES - Co said increased oil and gas sales volumes and higher commodity prices drove revenue growth
TYRA HUB PERFORMANCE - Co said Tyra hub reached peak production levels and improved stability following maintenance
MAINTENANCE COMPLETION - Co attributed higher production to completion of planned maintenance at Tyra and Gorm hubs

Company press release: ID:nWkr1pYWkW

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$346 mln
$327.75 mln (4 Analysts)
Q3 Adjusted Free Cash Flow
 
$69.70 mln
 
Q3 EBITDA
 
$219.60 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "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 NOK540.00, about 14.1% below its October 27 closing price of NOK629.00
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 8 three months ago

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(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.)