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DNO ASA ( (GB:0MHP) ) has shared an update.
DNO ASA reported 2024 revenues of USD 667 million, largely driven by strong production in Kurdistan and continuous expansion in the North Sea. Despite a net loss of USD 27 million due to non-cash impairments, the company increased its net production by 50% year-on-year to 77,300 barrels of oil equivalent per day. The Kurdistan region saw a 69% increase in production, with oil sold at local terminals due to pipeline shutdowns, generating significant free cash flow. The company also expanded its North Sea presence by acquiring interests in multiple fields, boosting production, and engaging in ongoing development projects. DNO plans to increase its operational spend in 2025 to capitalize on its North Sea activities, supported by a robust balance sheet and consistent shareholder dividends.
More about DNO ASA
DNO ASA is a Norwegian oil and gas operator with operations in the Middle East, North Sea, and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the company holds stakes in onshore and offshore licenses across various stages of exploration, development, and production in regions including the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire, Netherlands, and Yemen.
YTD Price Performance: 31.54%
Average Trading Volume: 319,294
Technical Sentiment Consensus Rating: Sell
Current Market Cap: NOK13.54B
For detailed information about 0MHP stock, go to TipRanks’ Stock Analysis page.
