BlueNord Reports Strong Q3 2025 Results with Cash Dividend Proposal

On October 29, 2025, BlueNord ASA, commonly known as BlueNord, announced impressive results for the third quarter of 2025, solidifying its operational stability and commitment to shareholder returns. The company, based in Oslo, has proposed a substantial cash dividend of USD 89 million following another successful quarter marked by robust financial performance.

Key Financial Highlights

In Q3 2025, BlueNord achieved a net hydrocarbon production rate of 39.1 thousand barrels of oil equivalent per day (mboepd), an increase from 37.8 mboepd recorded in the previous quarter, Q2 2025. The company generated revenues totaling USD 246 million, while EBITDA came in at USD 131 million. Notably, the operating cash flow saw significant growth, surpassing USD 128.5 million—more than an 80% increase from the previous quarter's figure of USD 71.2 million.

The proposed cash dividend of USD 89 million is indicative of BlueNord's strategic focus on maximizing cash returns for shareholders, with total shareholder returns year-to-date reaching a remarkable USD 391 million. This includes USD 252 million in cash dividends and USD 50 million through share buybacks.

Operational Performance and Future Outlook

BlueNord's operational achievements in Q3 were notably driven by the performance of its key assets, including the Dan, Gorm, and Halfdan fields, which produced a combined total of 20.2 mboepd. The Tyra project also showcased a commendable ramp-up, averaging 18.9 mboepd during the quarter and hitting a peak production of 22.0 mboepd in September. This upward trajectory is expected to further enhance the company's financial results as production capabilities continue to grow.

Euan Shirlaw, Chief Executive Officer of BlueNord, expressed confidence regarding the company’s future, stating, "The third quarter of 2025 marks a clear shift for BlueNord as we enter the harvesting phase of the business. With Tyra now delivering strong and growing production, we are seeing the full benefit of the investments made over the past few years translate into higher cash flow and profitability."

The third quarter results reflect BlueNord's commitment to maintaining strong liquidity, which stood at USD 447 million at the end of the quarter. This robust financial position allows the company to continue pursuing its growth strategy, focusing on cost-effective production methods and leveraging long-term activities within its portfolio.

Conclusion

As BlueNord concludes another successful quarter, the company remains strategically positioned to deliver sustainable returns to its shareholders while fostering continued operational excellence. The proposed dividend signifies a strong vote of confidence in the company’s future, reaffirming its dedication to capitalizing on opportunities and enhancing shareholder value.

For detailed insights, stakeholders can access the complete financial report and investor presentation available on the BlueNord website. The company also hosted a webcast at 10:00 CET to discuss these results in further detail.

In conclusion, BlueNord's solid performance in Q3 2025 and its generous cash dividend proposal underscore its proactive approach in a competitive energy sector, positioning itself as a key player committed to delivering value for its investors.