Q1 2026 Trading Update and Invitation to Earnings Call
Source: GlobeNewswireOslo, 20 April 2026 – DNO ASA, the Norwegian oil and gas operator, will publish its Q1 2026 operating and interim financial results on 7 May at 07:00 (CET). A videoconference call with executive management will follow at 10:00 (CET). Today, the Company provides an update on production, sales volumes, prices and other selected information for the quarter.
Volumes (boepd)
| Net production | Q1 2026 | Q4 2025 | Q1 2025 |
| North Sea | 88,647 | 88,271 | 19,296 |
| Kurdistan | 39,600 | 57,951 | 61,561 |
| West Africa | 3,424 | 3,456 | 3,375 |
| Sales | Q1 2026 | Q4 2025 | Q1 2025 |
| North Sea | 82,936 | 74,952 | 17,216 |
| Kurdistan | 14,753 | 20,019 | 18,464 |
| Gross operated production | Q1 2026 | Q4 2025 | Q1 2025 |
| North Sea | 7,145 | 10,555 | 8,864 |
| Kurdistan | 52,800 | 77,268 | 82,081 |
Realized prices (USD/boe)
| North Sea | Q1 2026 | Q4 2025 | Q1 2025 |
| Oil | 87.0 | 63.6 | 77.9 |
| Gas | 81.0 | 60.5 | 91.5 |
| NGL | 36.2 | 38.9 | 49.8 |
| Kurdistan | Q1 2026 | Q4 2025 | Q1 2025 |
| Oil | 31.0 | 31.6 | 34.7 |
North Sea
On 16 March 2026, DNO announced a non-cash swap of Norwegian Continental Shelf assets with Equinor Energy AS covering DNO’s stakes in four non-core discoveries in exchange for interests in the Kvitebjørn area in the Northern North Sea. The swap accelerates production from discoveries in DNO’s portfolio.
Post quarter end, DNO announced start-up of the Symra field offshore Norway nine months ahead of schedule. The field is expected to deliver 4,000–5,000 boepd net to DNO at plateau.
DNO did not participate in any exploration wells in the quarter, but plans to drill seven exploration or appraisal wells on the Norwegian Continental Shelf later this year.
Kurdistan
Two wells drilled in December 2025 and January 2026 were brought on production in the Tawke field early in the first quarter. But immediately following the start of the U.S.-Israeli air campaign against Iran on 28 February 2026, DNO ceased production and drilling in Kurdistan as a temporary safety measure. On 9 April 2026, the Company restarted field operations, including workovers of existing wells, and relaunched its previously announced eight-well drilling campaign in preparation for resumption of production from the Tawke and Peshkabir at stepped up rates.
Selected cash flow items
DNO’s net entitlement production of oil from the Tawke license during the quarter was sold to a local buyer. All payments continued to be received by the Company in advance of oil deliveries.
In the first quarter, DNO paid a dividend of NOK 0.375 per share (totaling USD 38.5 million), which represents NOK 1.50 per share on an annualized basis. DNO also paid taxes totaling USD 64 million in Norway related to installments for taxable profit for 2025.
Earnings call login details
Please visit www.dno.no for login details ahead of the call.
Disclaimer
The information contained in this release is based on a preliminary assessment of the Company’s Q1 2026 operating and interim financial results and may be subject to change.
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For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no
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DNO ASA is a Norwegian oil and gas operator active in the North Sea, the Middle East and West Africa. Founded in 1971, DNO is Norway’s oldest oil company and the first to list on the Oslo Stock Exchange in 1981. The Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in Norway, the Kurdistan region of Iraq, the United Kingdom, Côte d’Ivoire and Yemen. More information is available at www.dno.no
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
