DNO ASA reported stronger-than-expected second-quarter 2026 earnings on Monday, sending its shares up 4.4% in Oslo trading.
The Norwegian oil and gas producer said net profit exceeded analyst estimates, driven by higher realized oil prices and improved production volumes. Operational updates highlighted steady output from its Norwegian continental shelf assets, while costs remained contained.
DNO’s Q2 2026 revenue rose 12% year-over-year, supported by Brent crude prices averaging above $85 per barrel during the quarter. The company reaffirmed its full-year production guidance of 110,000 to 120,000 barrels of oil equivalent per day, citing stable operations across its core assets.
Management noted that exploration activities in the Barents Sea continued to progress, with two new wells scheduled for drilling in late 2026. Cash flow from operations increased 18% sequentially, enabling the company to maintain its dividend policy without adjustments.
Analysts at DNB Markets and Arctic Securities upgraded their price targets on the stock following the results, citing improved visibility on cash flows and operational resilience. DNO’s shares closed at NOK 52.80, up from NOK 50.60 at Friday’s close.
The earnings call transcript is available on the company’s investor relations page.
