DNO ASA

Latest Results (18.10.2025):

DNO ASA reported strong financial results for the second quarter of 2025, showcasing significant growth in revenue and operating profit. The company achieved a 37% increase in revenue to USD 258 million and a remarkable 206% rise in operating profit to USD 86 million. These results were bolstered by the strategic acquisition of Sval Energi Group AS, which contributed to enhanced production capabilities across key regions.

Revenue and Profit Growth

In Q2 2025, DNO ASA's revenue surged by 37% to USD 258 million compared to the prior quarter, while operating profit skyrocketed by 206% to USD 86 million. This growth was supported by the acquisition of Sval Energi Group AS, which began contributing to the financials from June 2025.

Increased Production Levels

Net production rose by 10% to 92,600 barrels of oil equivalent per day (boepd), with significant contributions from the Kurdistan region of Iraq (56,100 boepd), the North Sea (33,300 boepd), and West Africa (3,200 boepd). Post-acquisition, projected North Sea production for the second half of 2025 is expected to reach between 80,000 and 85,000 boepd.

Strategic Acquisitions and Developments

The acquisition of Sval Energi Group AS has expanded DNO ASA's production from over 30 North Sea fields. Key developments include the Maria Revit field, contributing 4,000 boepd, and six ongoing tieback projects slated to add 25,000 boepd by 2029. Additionally, three more tieback projects are nearing final investment decisions, further strengthening the company's asset portfolio.

Financial and Operational Strategy

DNO ASA is focused on increasing shareholder value through enhanced cash generation, stepped-up dividends, and cost reduction initiatives. The company has managed its financing effectively by issuing a USD 400 million hybrid bond, repaying over USD 600 million in lending facilities, and securing a USD 500 million financing facility for North Sea operations at favorable rates.

Exploration Success and Future Plans

The company continued its exploration success with the discovery of Vidsyn and plans to spud the Page exploration well. With three commercial discoveries this year, DNO ASA holds substantial net mean resources of 34 MMboe and aims to further mature additional discoveries for future project sanctions.

Dividend Announcement

The Board of Directors has approved a dividend payment of NOK 0.375 per share, representing an annualized NOK 1.50 per share, a 20% increase from the previous quarterly distribution. This move underscores the company's commitment to delivering increased cash value to shareholders.