Kjetil Bakken
Master of Ceremony
Replay available
Aker Bp Asa Ord (AKRBF) Q1 2026 Earnings Call
Aker Bp Asa Ord (OTC: AKRBF) Q1 2026 earnings conference call, held 2026-05-07. Replay captured from the company's public earnings webcast.
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Replay transcript excerpt
WEBVTT NOTE Transcription provided by Deepgram Request Id: 01a0425d-7115-7312-9f0b-99e1211599c4 Created: 2026-08-27T08:36:58.477Z Duration: 3180.0164 Channels: 1 00:00:00.000 -- 00:00:02.879 Good morning and welcome to Aker Bp's First 00:00:02.879 -- 00:00:05.600 Quarter twenty twenty six Results Presentation. 00:00:06.399 -- 00:00:08.000 We entered 2026 00:00:08.000 -- 00:00:10.800 with a strong momentum and it continued in 00:00:10.800 -- 00:00:11.280 Q1. 00:00:12.355 -- 00:00:14.994 Production efficiency was 97%, 00:00:15.235 -- 00:00:17.794 consistently among the best in the industry. 00:00:18.835 -- 00:00:21.634 Simvark came on stream nine months ahead of 00:00:21.634 -- 00:00:22.914 the original plan. 00:00:23.715 -- 00:00:26.994 And the broader development portfolio hit its key 00:00:26.994 -- 00:00:27.555 milestones. 00:00:28.769 -- 00:00:31.490 And when the oil price moved higher late 00:00:31.490 -- 00:00:33.809 in the quarter, driven by geopolitical 00:00:33.809 -- 00:00:36.770 disruptions in The Middle East, our high performing 00:00:36.770 -- 00:00:37.649 portfolio 00:00:37.649 -- 00:00:40.930 enabled us to capture the upside with tailwinds 00:00:40.930 -- 00:00:42.290 carrying into Q2. 00:00:43.715 -- 00:00:45.955 We delivered production in the high end of 00:00:45.955 -- 00:00:47.155 our guided range, 00:00:47.475 -- 00:00:49.075 sector leading cost, 00:00:49.395 -- 00:00:52.915 a significant project delivered nine months early and 00:00:52.915 -- 00:00:56.114 realized prices well above what the screen showed. 00:00:58.000 -- 00:01:01.199 Let me briefly turn to our operational performance 00:01:01.199 -- 00:01:03.440 in the quarter as summarized here. 00:01:04.239 -- 00:01:06.240 Starting with production efficiency, 00:01:06.400 -- 00:01:09.280 our ass...