Norway's BW Energy Q1 profit and EBITDA rise sharply

BW Energy

20/05/2026 06:10

Overview

Norway oil and gas producer's Q1 net profit and EBITDA rose sharply from prior quarter

Company made final investment decisions on Bourdon and Golfinho projects, adding to reserves

Dussafu Marin production licence extended 20 years to 2048, supporting long-term growth

Outlook

BW Energy sees 2026 production at 24-27 kbopd and CAPEX of $600-650 mln

Company raises 2028 net production forecast to over 100,000 barrels per day

BW Energy expects continued investment and production growth after Dussafu Marin licence extension

Result Drivers

STABLE PRODUCTION - Co said Q1 2026 net production was stable at 25.2 kbopd, supported by efficient operations and cost control, per CEO Carl K. Arnet

ESP RESTORATION - Dussafu ESP was restored in March after impacting production since December 2025

Company press release: ID:nMFN45TP5R

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
$32.60 mln
Q1 EBITDA
$111.30 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "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 BW Energy Ltd is NOK66.50, about 20% above its May 19 closing price of NOK55.40

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 15 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.)