BlueNord Announces Third Quarter of 2026 Results
Key Highlights
- ➤Net production 43.6 mboepd; Tyra reached approximately 30 mboepd
- ➤Q3 revenue USD 346 million, up from USD 276.8 million in Q2
- ➤Q3 EBITDA USD 219.6 million versus USD 146.8 million in Q2
- ➤Available liquidity USD 392.8 million, including USD 261 million undrawn RBL capacity
- ➤BlueNord shareholders approved merger; closing expected around year-end 2026
Expert Statements
Euan Shirlaw, Chief Executive Officer of BlueNord
“Our shareholders approved the merger with Vår Energi in August, and BlueNord is now approaching the end of its journey as an independent company. We can look back on it with real satisfaction. Since we acquired our interest in the DUC in 2019, Tyra has been redeveloped and brought back into production, and we have returned substantial cash to our shareholders. Our success as a standalone company provides a strong foundation for BlueNord’s next chapter. As part of Vår Energi, we believe our shareholders will benefit from greater scale and diversification while continuing our shared commitment to maximising operational performance and delivering long-term returns. The combination offers an opportunity to build on what both companies have achieved independently, and we are working through the remaining steps to completion. We expect the merger to close around the end of the year. This quarter Tyra delivered a step change in performance. Following the planned maintenance campaign in June we saw record production days close to 30 mboepd and gas export at maximum capacity. Until completion our focus is unchanged: running the business well and working to complete the transaction. Finally, I want to thank everyone at BlueNord for what they have delivered, and our shareholders for their support.”
BlueNord ASA Oslo, 28 2026: BlueNord ASA ("BlueNord" or the "Company") has today announced its financial results for the third quarter of 2026, reflecting an overall strong performance both operationally and financially, mainly driven by higher production and favourable commodity prices.
Highlights: * Net hydrocarbon production of 43.6 mboepd with Tyra reaching peak production levels of c. 30mboepd during the quarter and stability improving significantly * Total revenues of USD 346 million in the third quarter, up from USD 276.8 million in the previous quarter * EBITDA of USD 219.6 million in Q3 compared to USD 146.8 million in Q2 * Available liquidity of USD 392.8 million, with cash on balance sheet of USD 131.3 million and undrawn RBL capacity of USD 261 million * Proposed statutory merger with Vår Energi ASA announced and approved by shareholders Operational BlueNord delivered a total net production of 43.6 mboepd in the third quarter of 2026, reflecting the successfully planned maintenance shutdowns at both the Tyra and Gorm hubs earlier in the summer. The Tyra hub significantly improved its stability and capacity after the planned June shutdown. A step change in production was observed with gas production around export capacity, and production reaching c. 30 mboepd during the quarter.
Get started
Create a free account to read the full story.