Aker BP: First Quarter 2026 Results

Aker BP (OTC:AKRBF) reported first quarter 2026 results with net production 398 mboepd and production efficiency 97%.

Rhea-AI Summary

Aker BP (OTC:AKRBF) reported first quarter 2026 results with net production 398 mboepd and production efficiency 97%. Total income was USD 3.0 billion, operating cash flow USD 2.0 billion, and capital expenditure USD 1.6 billion. Symra reached first oil on 3 April, nine months ahead of schedule. A dividend of USD 0.6615 per share was paid. Major projects (Skarv Satellites, Hugin B, Fenris, Johan Sverdrup Phase 3) progressed as described. Guidance remained unchanged; management noted market uncertainty related to developments in the Middle East.

Positive

• Net production averaged 398 mboepd
• Production efficiency at 97% across portfolio
• Symra reached first oil nine months early (3 April 2026)
• Operating cash flow of USD 2.0 billion
• Major project milestones: Hugin B jacket and Fenris topside installed

Negative

• Market volatility influenced by Middle East developments
• Guidance remained unchanged despite strong cash generation

Argus May 7 session

-3.07% close to close Open Argus

Details

News Market Reaction – AKRBF

On May 7, the day this news came out, AKRBF closed 3.07% below the previous close.

Data tracked by StockTitan Argus for the May 7 session.

Market Context

This announcement underscores Aker BP’s stable Q1 2026 operations, with net production of 398 mboepd...

Analysis

This announcement underscores Aker BP’s stable Q1 2026 operations, with net production of 398 mboepd, 97% production efficiency and strong cash generation of USD 2.0 billion in operating cash flow. Symra delivered first oil nine months early, while major projects like Yggdrasil and Valhall PWP-Fenris continued on track. Investors may watch upcoming quarters for continuity of these metrics, capital expenditure at USD 1.6 billion, and the sustainability of the USD 0.6615 quarterly dividend.

Key Figures

Net production: 398 mboepd Production efficiency: 97 percent Symra schedule beat: 9 months +5 more

Net production

398 mboepd

Q1 2026 average net production

Production efficiency

97 percent

Q1 2026 portfolio production efficiency

Symra schedule beat

9 months

Symra first oil ahead of original schedule

Total income

USD 3.0 billion

Q1 2026 total income

Operating cash flow

USD 2.0 billion

Q1 2026 operating cash flow

Capital expenditure

USD 1.6 billion

Q1 2026 capital expenditure

Dividend per share

USD 0.6615

Dividend paid in the quarter

First oil date

3 April

Symra first oil achieved

Previous Earnings Reports

5 past events · Latest: Feb 11

Same Type 5 events

1. Feb 11

   Q4 2025 results

   24h Move

   +1.8%

   Solid Q4 2025 results, strong cash flow and dividend increase for 2026.

2. Oct 22

   Q3 2025 results

   24h Move

   +4.8%

   Stable Q3 2025 production, raised full-year guidance and major discovery.

3. Jul 15

   Q2 2025 results

   24h Move

   -5.4%

   Strong operations with raised guidance despite lower income and higher costs.

4. Jul 04

   Q2 2025 trading update

   24h Move

   -0.3%

   Preliminary Q2 2025 production and pricing figures ahead of full report.

5. May 07

   Q1 2025 results

   24h Move

   +0.6%

   Strong Q1 2025 results with high production, income and ongoing dividends.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

operating cash flow, capital expenditure, first oil, production efficiency

4 terms

operating cash flow financial

"Financial results: Total income was USD 3.0 billion and operating cash flow was USD 2.0 billion."

Operating cash flow is the amount of money a company earns from its main business activities, like selling products or services. It shows how well the company can generate cash to pay bills, invest in growth, or return money to shareholders. This figure helps investors understand if the company’s core operations are healthy and sustainable.

View in glossary

capital expenditure financial

"Capital expenditure: USD 1.6 billion, reflecting high activity across the development portfolio."

Capital expenditure is the money a company spends to buy, upgrade, or maintain long‑term physical items such as buildings, machinery, vehicles, or major software systems that it will use for years. It matters to investors because these investments shape future earnings and use up cash today — like a bakery buying a bigger oven to bake more bread; high or sustained spending can signal growth plans but also reduces short‑term cash and affects valuation and returns.

first oil technical

"Symra achieved first oil nine months ahead of original schedule - an important contributor"

First oil is the moment a new oil field or production project begins producing commercial quantities of crude for sale, like turning on a tap and getting product to market for the first time. It matters to investors because it marks the shift from development costs to revenue generation, reduces project risk, and often triggers cash flow, regulatory milestones, or contract payments that can materially change a company’s financial outlook and valuation.

production efficiency technical

"Stable production: Net production averaged 398 mboepd, with production efficiency of 97 percent"

Production efficiency measures how well a company turns inputs—like labor, materials, energy and time—into finished products or services, usually by comparing actual output to the resources used. For investors it signals cost control and competitiveness: higher efficiency is like a car getting more miles per gallon, meaning lower unit costs, higher profit potential and better use of capacity, which can boost margins and cash flow.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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LYSAKER, Norway, May 7, 2026 /PRNewswire/ -- Aker BP delivered strong operational and financial performance in the first quarter of 2026. Production was stable, significant progress was made across the major development projects, and Symra achieved first oil nine months ahead of original schedule - an important contributor to the company's production outlook.

Highlights

• Stable production: Net production averaged 398 mboepd, with production efficiency of 97 percent across the portfolio.
• Symra ahead of schedule: First oil was achieved on 3 April, nine months ahead of the original plan, adding near-term production from the Utsira High area.
• Project execution: Skarv Satellites start-up has been accelerated to the third quarter of 2026. The Hugin B jacket and the Fenris topside have been successfully installed offshore. Johan Sverdrup Phase 3 continued to progress as planned.
• Financial results: Total income was USD 3.0 billion and operating cash flow was USD 2.0 billion.
• Capital expenditure: USD 1.6 billion, reflecting high activity across the development portfolio.
• Dividend: USD 0.6615 per share was paid in the quarter.

Commenting on the results, CEO Karl Johnny Hersvik said:

"We started 2026 with strong operational momentum, and the first quarter delivered according to plan. Production efficiency was consistently high, costs remained among the lowest in the sector, and we brought the Symra project on stream nine months ahead of schedule.

"Our project portfolio continues to progress well. We are converting a pipeline of low break-even projects into production, while our two major development projects, Yggdrasil and Valhall PWP-Fenris, remain on track for first oil in 2027.

"The situation in the Middle East remains serious and uncertain. While Aker BP has no direct exposure to the region, developments have influenced oil markets towards the end of the quarter. Our focus remains on maintaining safe operations, disciplined execution and financial resilience in a volatile environment.

"With strong cash generation, a solid balance sheet and unchanged guidance, we remain well positioned to execute our investment programme and deliver attractive and sustainable shareholder returns over time."

Webcast presentation

The presentation will be webcast today at 08:30 CEST on www.akerbp.com, hosted by CEO Karl Johnny Hersvik and CFO David Tønne. The presentation will be followed by an online Q&A session.

CONTACT:

Investor contacts
Kjetil Bakken, Head of IR, tel.: +47 918 89 889
Carl Christian Bachke, IR Officer, tel.: +47 909 80 848

Media contacts
Tore Langballe, VP Communications, tel.: +47 907 77 841
Ole-Johan Faret, Press Spokesman, tel.: +47 402 24 217

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/aker-bp-asa/r/first-quarter-2026-results,c4345523

The following files are available for download:

https://mb.cision.com/Public/1629/4345523/9d2dcad046c36879.pdf	Aker BP 2026-Q1 Report
https://mb.cision.com/Public/1629/4345523/82e5d574fe831b21.pdf	Aker BP 2026-Q1 Presentation

View original content:https://www.prnewswire.com/news-releases/aker-bp-first-quarter-2026-results-302765270.html

SOURCE Aker BP ASA

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What was Aker BP's reported production in Q1 2026 (AKRBF)?

Aker BP reported net production of 398 mboepd in Q1 2026. According to the company, production efficiency averaged 97%, and Symra added near-term volumes after first oil on 3 April 2026.

How much operating cash flow did Aker BP (AKRBF) generate in Q1 2026?

Operating cash flow was USD 2.0 billion for Q1 2026. According to the company, strong cash generation supports the investment programme while dividend payments and capital expenditure continued.

When did the Symra field start production and how early was it (AKRBF)?

Symra achieved first oil on 3 April 2026, nine months ahead of the original schedule. According to the company, this accelerated start contributes to near-term production from the Utsira High area.

What capex did Aker BP (AKRBF) report for Q1 2026 and what does it reflect?

Capital expenditure was USD 1.6 billion in Q1 2026. According to the company, this reflects high activity across its development portfolio and ongoing delivery of major projects.

Did Aker BP (AKRBF) change its guidance after Q1 2026 results?

Guidance remained unchanged after the Q1 2026 results. According to the company, management cited strong cash generation and a solid balance sheet while noting market uncertainty.

How much dividend did Aker BP (AKRBF) pay in Q1 2026?

A dividend of USD 0.6615 per share was paid in the quarter. According to the company, this distribution was made alongside continued investment in development projects and operational delivery.