Jacktel AS reported second-quarter 2026 revenue of $19.6 million, exceeding the $15.44 million forecast by 27%, driven by higher charter hire revenue and mobilization fees. The company’s accommodation rig Haven generated $15.8 million in charter hire revenue, supplemented by $3.3 million in other income primarily from mobilization and demobilization work for partners Equinor and Aker BP.
EBITDA totaled $11.3 million, yielding a margin of 57.7%, while net profit reached $4.7 million with a margin of 24.0%. Operating expenses rose to $8.2 million year-over-year due to mobilization costs and currency effects from a stronger U.S. dollar against the Norwegian krone. Operating cash flow stood at $6 million, with cash at quarter-end at $12.3 million. Net interest-bearing debt was $53 million, including a $65 million bond loan with a $5 million installment due in October.
The company declared a quarterly dividend of $0.03 per share, maintaining a consistent payout track that included $0.05 in Q3 2025, $0.02 in Q4 2025, and $0.025 in Q1 2026. Shares rose 4.35% to $6.00, within a 52-week range of $4.10 to $6.10.
Haven completed its transition from Equinor’s Draupner field to Aker BP’s Valhall field in June 2026 with minimal downtime, connecting to shore power for zero-emission operations. The rig, built in 2011 with capacity for 450 people, has maintained 100% uptime and recorded zero high-potential incidents or lost-time injuries since arriving at Valhall.
Management highlighted a contract extension with Aker BP, finalized in July 2026, extending the firm commitment from 15 months to 21 months through February 28, 2028, with additional optionality through June 30, 2028. Year 2027 is fully covered by existing contracts, with visibility being built for 2028. The company expects to begin accruing a 10% incentive fee to Macro Offshore from Q3 2026 once EBITDA thresholds are met, with cash payments anticipated in 2027.
