Third quarter 2026 results

Available liquidity was USD 5.8 billion, while the leverage ratio stood at 0.50.

Rhea-AI Summary

Aker BP (AKRBF, AKRBY) reported third-quarter 2026 net profit of USD 986 million, including a benefit from an impairment reversal. Earnings were USD 1.56 per share, with a USD 262 million positive after-tax reversal effect. Operating cash flow was USD 2.4 billion.

Production was 374 thousand barrels of oil equivalent per day, reflecting planned maintenance; sold volumes rose five percent quarter over quarter to 396 thousand. Full-year production guidance remains 380–400 thousand barrels of oil equivalent per day. Aker BP expects Yggdrasil and Valhall PWP–Fenris to begin production next summer following offshore installation milestones. Skarv Satellites began production in late August, almost a year ahead of its original schedule.

8 points · 0 major

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0 major · 0 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointNet profit of USD 986 million, or USD 1.56 per share, included a USD 262 million after-tax impairment reversal benefit.
• Moderate pointOperating cash flow was USD 2.4 billion in the third quarter.
• Moderate pointEBITDA, earnings before interest, taxes, depreciation and amortization, was USD 3.4 billion.
• Moderate pointNet sold volumes rose five percent from the previous quarter to 396 thousand barrels of oil equivalent per day.
• Moderate pointSkarv Satellites started production in late August, almost a year ahead of the original schedule.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Yggdrasil and Valhall PWP–Fenris progressed according to plan; Aker BP expects first production next summer.

2 minor points

• Minor pointAvailable liquidity was USD 5.8 billion, with a leverage ratio of 0.50.
• Minor pointHugin B, Munin and Valhall PWP topsides were installed; all major Yggdrasil subsea components are in place.

Negative

• None.

Key Figures

Net production: 374 mboepd Full-year production guidance: 380–400 mboepd Net sold volumes: 396 mboepd +5 more

Net production

374 mboepd

Q3 2026; reflecting planned maintenance

Full-year production guidance

380–400 mboepd

2026 guidance reiterated

Net sold volumes

396 mboepd

Q3 2026; up five percent from the previous quarter

EBITDA

USD 3.4 billion

Q3 2026

Cash flow from operations

USD 2.4 billion

Q3 2026

Net profit

USD 986 million

Q3 2026

Available liquidity

USD 5.8 billion

Financial position at Q3 2026

Quarterly dividend

USD 0.6615 per share

Payable on or about 12 November 2026

Previous Earnings Reports

3 past events · Latest: Jul 15

Same Type 3 events

1. Jul 15

   Earnings report

   24h Move

   -1.5%

   Reported production, operating cash flow, profit, guidance, projects and quarterly dividend.

2. May 07

   Earnings report

   24h Move

   -3.1%

   Reported production, income, operating cash flow, capital expenditure and unchanged guidance.

3. Oct 22

   Earnings report

   24h Move

   +4.8%

   Raised full-year production guidance and disclosed the Omega Alfa discovery's recoverable-resource estimate.

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

Key Terms

mboepd, ebitda, impairment reversal, topsides

4 terms

mboepd technical

"Net production was 374 mboepd, reflecting planned maintenance."

Mboepd stands for “thousand barrels of oil equivalent per day,” a measure of how much energy a company produces each day when oil, natural gas and other hydrocarbons are converted into a single oil-equivalent unit. Investors use it like a single thermometer that shows overall production output; higher mboepd generally means more product to sell and can translate into higher revenue and cash flow, while declines can signal shrinking business performance.

ebitda financial

"EBITDA was USD 3.4 billion"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

View in glossary

impairment reversal financial

"including a positive after-tax effect of USD 262 million from an impairment reversal."

A reversal of an impairment is a bookkeeping entry that reduces or eliminates a previously recorded write-down of an asset when evidence shows the asset’s recoverable amount has risen since the impairment was recognized. Accounting standards set specific limits: under IFRS an impairment loss for most non‑financial assets (but not goodwill) can be reversed up to the amount the asset would have had without the earlier impairment, while US GAAP generally prohibits reversing impairment losses for long‑lived assets held for use (though other narrow categories and different rules may apply), so whether and how an impairment reversal is allowed depends on the applicable accounting standard.

topsides technical

"The Hugin B, Munin and Valhall PWP topsides were installed"

The topsides are the upper, above-water portion of an offshore oil or gas platform that houses the production equipment, processing modules, power systems, control rooms and living quarters. They are distinct from the substructure or jacket (the supporting structure or hull below the waterline) and are often modular so they can be decommissioned, refurbished or transferred separately from the platform’s supporting frame.

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

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LYSAKER, Norway, Oct. 29, 2026 /PRNewswire/ -- Aker BP delivered strong earnings and cash flow in the third quarter, driven by efficient operations, higher sold volumes and strong realised prices. The Yggdrasil and Valhall PWP–Fenris projects passed major offshore milestones and remain on track for first production next summer, while the Skarv Satellites Project came on stream in late August. 

Highlights

• Production: Net production was 374 mboepd, reflecting planned maintenance. Full-year production guidance of 380–400 mboepd is reiterated.
• Sales: Net sold volumes were 396 mboepd, up five percent from the previous quarter.
• Earnings and cash flow: EBITDA was USD 3.4 billion, and cash flow from operations was USD 2.4 billion.
• Net profit: USD 986 million, equivalent to USD 1.56 per share, including a positive after-tax effect of USD 262 million from an impairment reversal.
• Projects: Yggdrasil and Valhall PWP–Fenris progressed according to plan. The Hugin B, Munin and Valhall PWP topsides were installed, all major subsea components at Yggdrasil are now in place, and offshore hook-up and commissioning are underway.
• Skarv Satellites: Production commenced in late August, almost a year ahead of the original schedule.
• Financial position: The financial position remained robust, with a leverage ratio of 0.50 and USD 5.8 billion in available liquidity.
• Dividend: A quarterly dividend of USD 0.6615 per share is payable on or about 12 November 2026.

Commenting on the results, CEO Karl Johnny Hersvik said:

"Aker BP delivered strong results in the third quarter, supported by safe and reliable operations, higher sold volumes and strong realised prices. Our financial position remains robust, with low leverage and substantial liquidity."

"Offshore, this was one of the most important quarters in our project history. With the Hugin B, Munin and Valhall PWP topsides installed and all major subsea components in place at Yggdrasil, we have entered the final phase towards start-up of both Yggdrasil and Valhall PWP–Fenris next summer. I am particularly pleased that the Skarv Satellites Project came on stream almost a year ahead of the original schedule. This demonstrates our execution capabilities and the value of developing new resources through existing infrastructure."

"As we look beyond the current project portfolio, we see substantial opportunities for continued value creation on the Norwegian Continental Shelf. We are strengthening our opportunity set through exploration and new partnerships, while using technology, AI and a more integrated operating model to unlock more resources and improve how we work. Our strategy remains unchanged, but we are improving how we execute it to create even more shareholder value."

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.

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

Media contact:
Tore Langballe, VP Communications, tel.: +47 907 77 841

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

https://news.cision.com/aker-bp-asa/r/third-quarter-2026-results,c4416733

The following files are available for download:

https://mb.cision.com/Public/1629/4416733/a54df8560290e8ae.pdf	Aker BP 2026-Q3 Report
https://mb.cision.com/Public/1629/4416733/86016b3ece74ea4b.pdf	Aker BP 2026-Q3 Presentation

 

View original content:https://www.prnewswire.com/news-releases/third-quarter-2026-results-302923145.html

SOURCE Aker BP ASA

FAQ

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

What were Aker BP's third-quarter 2026 earnings?

Aker BP reported net profit of USD 986 million, equivalent to USD 1.56 per share. The result included a positive after-tax effect of USD 262 million from an impairment reversal. Operating cash flow was USD 2.4 billion.

When does Aker BP expect Yggdrasil and Valhall PWP–Fenris to start production?

Aker BP expects first production next summer from both Yggdrasil and Valhall PWP–Fenris. The projects progressed according to plan, with offshore hook-up and commissioning underway.

How much is Aker BP's quarterly dividend and when is it payable?

Aker BP's quarterly dividend is USD 0.6615 per share, payable on or about 12 November 2026.