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OKEA ASA ( (DE:3SX) ) has issued an update.
OKEA ASA reported strong operational performance in the fourth quarter of 2024, with operating income and EBITDA reflecting a slight decrease from the previous quarter. The company exceeded its production guidance for the year and achieved a notable reduction in injuries. Strategic asset portfolio optimization included the sale of a 15% working interest in Yme and a license swap, enhancing exploration activities. Additionally, OKEA was awarded eight new licenses, further diversifying its portfolio. Despite these achievements, the company experienced lower sold volumes and crude prices, affecting overall income from petroleum product sales. OKEA maintains its production and capex guidance for the upcoming years.
More about OKEA ASA
OKEA ASA is a prominent mid- and late-life operator on the Norwegian continental shelf, focusing on discovering value in areas where others divest. The company is committed to growth, value creation, and capital discipline, and is listed on the Oslo Stock Exchange.
YTD Price Performance: 9.64%
Average Trading Volume: 100
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €192.6M
For an in-depth examination of 3SX stock, go to TipRanks’ Stock Analysis page.
