BlueNord ASA (0HTF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and a very warm welcome to BlueNord's results presentation for the second quarter of twenty twenty six. As always, it's a real pleasure to have you with us as we walk through not only our performance in the first half of the year, but also the outlook for 2026 and beyond. To start and before we get into the numbers, I want to talk about what we are most pleased with operationally this quarter and that's Tyra. Since the field started up in 2024, we've been consistent on two things. Firstly, we've always believed the hub could produce at higher levels than we had seen. And secondly, that we knew it would take work from the operator to get there. It was that backdrop that drove the decision to have a planned shutdown in the second half of last year and then another planned shutdown in the second quarter of this year. The focus with these has very much been on increasing Tyra's maximum production potential and just as importantly, making sure that the hub can produce consistently. So I'm very pleased today to be able to say that during the most recent shutdown, the full work scope was successfully completed and we're already seeing the results of that. Tyre is now producing at record rates of over 28,000 barrels of oil equivalent per day net to BlueNord, And we expect this to carry forward with higher operational efficiency, driving higher average production in the coming quarters. So it's been a long time coming, but we can now see Tyra delivering on its potential and producing the volumes that we always believed it could. And that's important in isolation for sure, but it's also important given what we're seeing in the external environment. Well, everyone knows that oil has been particularly volatile over the last few months. The gas price by co...