Aker BP ASA on Thursday reported $758 million in internet revenue for the primary quarter (Q1), bouncing again from a internet lack of $145 million for the prior three months and growing from $316 million for Q1 2025.
The Norwegian continental shelf explorer and producer delivered earnings per share of $1.2. It declared a dividend of $0.6615 for Q2, sustaining its prior fee.
A rise in liquids costs quarter-on-quarter and year-on-year offset a lower in liquids and fuel gross sales volumes.
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Aker BP, whose largest shareholders are Aker ASA and BP PLC, produced a median of 398,400 barrels of oil equal a day (boed) internet within the January-March 2026 quarter. That fell from 410,600 boed in This autumn 2025 and 441,400 in Q1 2025 resulting from “offloading delays and a extreme wave occasion” within the Alvheim space and “unplanned operational points and a shutdown” within the Ula space.
Internet gross sales totaled 405,700 boed, down from 431,400 boed in This autumn 2025 and 457,600 boed in Q1 2025. Q1 2026 internet liquids gross sales dropped sequentially and by prior-year comparability to 352,200 boed. Internet fuel gross sales of 53,400 boed adopted the identical pattern.
Aker BP’s realized liquids costs averaged $82.2 per barrel, up from $63.1 in This autumn 2025 and $75 in Q1 2025. The common realized fuel worth of $80.5 per boe soared from $59.2 in This autumn 2025 however declined from $85.2 in Q1 2025.
Manufacturing bills fell quarter-on-quarter however rose year-on-year to $297.4 million. As a result of a reversal in impairments, whole working bills considerably fell from $2.11 billion for This autumn 2025 and $1.28 billion for Q1 2025 to $372.6 million for Q1 2026.
Income fell quarter-on-quarter and year-on-year to $2.99 billion. Money circulation from operations rose quarter-on-quarter however fell year-on-year to $2.01 billion. EBITDA rose quarter-on-quarter however fell year-on-year to $2.66 billion. EBIT rose each quarter-on-quarter and year-on-year to $2.65 billion. Revenue earlier than taxation rose each quarter-on-quarter and year-on-year to $2.72 billion.
Aker BP ended Q1 2026 with $1.86 billion in money and money equivalents and $3.08 billion in different present property. Present liabilities stood at $3.72 billion together with $1.58 billion in tax payable.
Leverage ratio stood at 69 %. Aker BP held a liquidity place of $5.4 billion. Moreover money and money equivalents, liquidity included $300 million in monetary investments and $3.2 billion in undrawn credit score amenities.
“Our mission portfolio continues to progress effectively. We’re changing a pipeline of low-breakeven initiatives into manufacturing, whereas our two main improvement initiatives, Yggdrasil and Valhall PWP-Fenris, stay on observe for first oil in 2027”, mentioned chief govt Johnny Hersvik.
“The state of affairs within the Center East stays critical and unsure. Whereas Aker BP has no direct publicity to the area, developments have influenced oil markets in the direction of the tip of the quarter”.
To contact the writer, electronic mail jov.onsat@rigzone.com
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