Aker Bp Asa Ord (AKRBF) Q2 2026 Earnings Call

Investor webinar replay

Watch the replay and follow the connected company analysis, news, and investor updates for Aker Bp Asa.

Watch the replay

Replay transcript excerpt

WEBVTT 00:00:00.051 -- 00:00:05.232 Good morning everyone and welcome to Akka BP's second quarter presentation. 00:00:05.232 -- 00:00:11.254 It was a quarter of strong operational execution and robust financial results. 00:00:11.254 -- 00:00:16.276 Production averaged 384,000 barrels of oil equivalents per day 00:00:16.276 -- 00:00:20.137 and operating cash flow was $3.1 billion. 00:00:20.137 -- 00:00:26.098 And we have raised the lower end and narrowed our production guidance for the year. 00:00:26.098 -- 00:00:31.422 Our major projects remain on track, with important milestones across Yggdrasil, Valhalla 00:00:31.422 -- 00:00:36.165 PVP Femres, Skaaf Satellites and Johan Sverdrup Phase 3. 00:00:36.165 -- 00:00:41.149 At the same time, we continue to strengthen the portfolio for future growth, including 00:00:41.149 -- 00:00:44.291 through a new strategic collaboration with Equinor. 00:00:44.291 -- 00:00:49.475 We also maintain a robust financial position with $6 billion in available 00:00:49.475 -- 00:00:53.977 liquidity and an unchanged quarterly dividend. 00:00:54.516 -- 00:00:59.740 Operationally, this was a quarter shaped by seasonally high level of activity, 00:00:59.740 -- 00:01:03.802 with continued high efficiency across the portfolio. 00:01:03.802 -- 00:01:08.446 Production was lower than in the previous quarter, mainly due to planned maintenance 00:01:08.446 -- 00:01:14.648 at Edvard Grieg and Ivar Aasen, combined with normal quarter-to-quarter variations. 00:01:15.170 -- 00:01:20.574 Despite these planned impacts, production efficiency was 94%, 00:01:20.574 -- 00:01:24.865 a very strong performance by industry standards. 00:01:24.865 -- 00:01:30.007 Production cost increased to $8.8 per barrel, mainly reflecting planned 00:01:30.007 -- 00:01:35.148 seaso...