#Hydrocarbons #Cash Dividend #Norway #Oslo #BlueNord

BlueNord Reports Strong Fourth Quarter Performance

Oslo, Norway – In a significant announcement, BlueNord ASA has reported outstanding financial results for the fourth quarter of 2025, reflecting a year of strong growth and operational success. The company has proposed a substantial cash dividend of USD 115 million, representing 70% of its net cash flow from operating activities.

Solid Production and Financial Highlights

During Q4 2025, BlueNord achieved an impressive net hydrocarbon production of 42.4 mboepd, marking a notable increase from 39.1 mboepd in the previous quarter. With revenues soaring to USD 270 million—up from USD 246 million in Q3—the company underscores its operational effectiveness and growing market presence.

The company's newly reported lifting cost stood at USD 13 per barrel of oil equivalent (boe), consistent with the planned guidance following the Tyra hub's recovery. EBITDA climbed significantly to USD 186 million from USD 131 million in the previous quarter, while operating cash flow reached USD 168 million, further emphasizing BlueNord's operational strength.

Cash Distribution and Future Planning

The proposed cash dividend for Q4 2025 brings the total amount paid and proposed to shareholders for the year to an impressive over USD 500 million. This continued commitment to returning value to shareholders is a hallmark of BlueNord's corporate strategy, aimed at maximizing shareholder returns amidst ongoing development projects.

Looking towards the future, BlueNord is re-evaluating its Halfdan North and Valdemar Bo South development projects with a focus on enhancing returns while keeping capital expenditures between USD 100-150 million over the upcoming years, from 2027 to 2030.

In a notable development, the company has also entered discussions with the Danish Ministry of Climate, Energy and Utilities regarding a possible extension of its current DUC license, which could be beneficial for European energy security and the sustainability of BlueNord’s production capabilities.

Operational Excellence

BlueNord's fourth quarter production sets a new company record, with October’s planned shutdown leading to improved efficiency and minimal unplanned halts. December alone saw an average production of 25.1 mboepd, marking it as the highest monthly output since the Tyra hub’s restart. The performance from BlueNord’s base assets, including the Dan, Gorm, and Halfdan hubs, met expectations, averaging 21.7 mboepd.

Despite the promise of steady production increases, CEO Euan Shirlaw noted that Tyra has not yet achieved its full operational capacity but is progressing positively. The combination of disciplined capital allocation and strategic project management is set to ensure continued production growth into 2026 and beyond.

In light of these results, the company is optimistic about sustaining rising cash returns to shareholders while carefully evaluating investment opportunities that balance growth with capital efficiency.

Conclusion

BlueNord ASA has demonstrated remarkable resilience and efficiency in its operations throughout 2025, culminating in a strong finish for the year. As the company works towards optimizing its project portfolios and continues its commitment to shareholder returns, it remains well-positioned for future growth. A webcast to discuss these results and future outlook will take place today at 10:00 CET, offering stakeholders further insights into the company's trajectory.

For additional information, shareholding details, and investor presentations, please visit BlueNord's website.