Business
BlueNord Announces First Quarter 2025 Results: Tyra Production Ramp-Up Continues and Second Distribution to Shareholders Proposed
BlueNord ASA ("BlueNord" or the "Company") today published its first quarter 2025 results, highlighting robust base production, continued progress at the Tyra hub and a strong liquidity position of USD 684 million. In addition, BlueNord is proposing its second shareholder distribution of USD 38 million for Q1 2025. This is expected to be declared and paid alongside the USD 215 million proposed distribution for 2024 once the RBL Completion Test for Tyra is met.
About this update from Bluenord Asa
[{"type":"text","content":"OSLO, Norway, May 14, 2025 /PRNewswire/ -- BlueNord ASA ("BlueNord" or the "Company") today published its first quarter 2025 results, highlighting robust base production, continued progress at the Tyra hub and a strong liquidity position of USD 684 million. In addition, BlueNord is proposing its second shareholder distribution of USD 38 million for Q1 2025. This is expected to be declared and paid alongside the USD 215 million proposed distribution for 2024 once the RBL Completion Test for Tyra is met.","length":532,"tagName":"p"},{"type":"text","content":"Highlights:","length":11,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net hydrocarbon production of 29.8 mboe/d in Q1","length":47,"tagName":"p"}]},{"val":[{"type":"text","content":"Revenues of USD 171 million for the quarter and EBITDA of USD 80 million","length":72,"tagName":"p"}]},{"val":[{"type":"text","content":"Pre-Tax Operating Cash Flow of USD 70 million for the quarter","length":61,"tagName":"p"}]},{"val":[{"type":"text","content":"Post-Tax Operating Cash Flow of USD 55 million for the quarter ","length":90,"tagName":"p"}]},{"val":[{"type":"text","content":"Strong liquidity position at quarter end of USD 684 million and cash on balance sheet of USD 414 million following release of cash in escrow","length":140,"tagName":"p"}]},{"val":[{"type":"text","content":"Attractive hedges added during the quarter at favourable prices for 2025 and 2026, further securing future cashflow from the Company's operational portfolio","length":160,"tagName":"p"}]},{"val":[{"type":"text","content":"Proposed shareholder distribution of USD 38 million for Q1 2025","length":63,"tagName":"p"}]},{"val":[{"type":"text","content":"Full technical capacity on Tyra during Q1 with final phase of ramp-up progressing","length":81,"tagName":"p"}]},{"val":[{"type":"text","content":"Net 2P Reserves at 194 mmboe and a Reserves Replacement Ratio of 189%","length":69,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":783,"olType":false},{"type":"text","content":"Operational The base assets, Dan, Gorm and Halfdan continued their stable and reliable production and delivered within guidance. Following the success of the HEMJ well which will extend plateau from Tyra signifi...