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Norwegian Energy Company ASA ( (GB:0HTF) ) has issued an announcement.
BlueNord ASA reported strong operational performance and financial results for the fourth quarter and full year of 2024, driven by the successful restart and ramp-up of Tyra II, which exited the year with a production rate of 15 mboepd. The company announced its first proposed shareholder distribution of USD 215 million for 2024, contingent upon meeting the RBL Completion Test for Tyra. Key achievements include significant hydrocarbon production, exceeding expectations from the HEMJ exploration well, and a favorable commodity price environment, all contributing to a robust liquidity position of USD 521 million by year-end. These developments are poised to transform BlueNord’s operations and provide essential gas volumes to Denmark and Europe.
More about Norwegian Energy Company ASA
BlueNord ASA is a strategically important European oil and gas company specializing in producing and developing energy resources. It operates primarily in the Danish North Sea with a 36.8 percent interest in the Danish Underground Consortium (DUC), focusing on activities that support the energy transition. The company is listed on the Oslo Stock Exchange under the ticker ‘BNOR’.
YTD Price Performance: 3.89%
Average Trading Volume: 862
Technical Sentiment Consensus Rating: Sell
Current Market Cap: NOK17.86B
Learn more about 0HTF stock on TipRanks’ Stock Analysis page.
