DNO boosts North Sea output, resumes Kurdistan operations after conflict halt

DNO ASA ( (GB:0MHP) ) just unveiled an update.

DNO ASA, the Norwegian oil and gas operator, reported first-quarter 2026 operational data ahead of its upcoming results release, highlighting a strong increase in North Sea net production and sales compared with a year earlier, while Kurdistan volumes declined. The company realized higher oil and gas prices in the North Sea, underscoring improved market conditions versus the previous quarter despite softer Kurdistan pricing.

Operationally, DNO advanced its North Sea strategy through a non-cash swap of Norwegian Continental Shelf assets with Equinor, trading out of four non-core discoveries for stakes in the Kvitebjørn area to accelerate production, and it brought the Symra field onstream nine months ahead of schedule, targeting 4,000–5,000 boepd net at plateau. In Kurdistan, production was temporarily halted after the start of the U.S.-Israeli air campaign against Iran but restarted in April, with workovers and an eight-well drilling program relaunched to support higher future output, while the company maintained cash flow by selling Tawke oil to a local buyer on prepayment terms.

DNO continued capital returns to shareholders with a first-quarter dividend equivalent to NOK 1.50 per share on an annualized basis and met Norwegian tax obligations tied to 2025 profits, indicating solid liquidity and financial discipline. The combination of accelerated North Sea growth, a cautious but resumed ramp-up in Kurdistan and ongoing shareholder distributions positions the company to balance operational risk in conflict-prone regions with portfolio upgrades in more stable jurisdictions.

The most recent analyst rating on (GB:0MHP) stock is a Sell with a NOK11.10 price target. To see the full list of analyst forecasts on DNO ASA stock, see the GB:0MHP Stock Forecast page.

More about DNO ASA

DNO ASA is a Norwegian oil and gas operator with activities in the North Sea, the Middle East and West Africa. Founded in 1971 and listed in Oslo since 1981, it holds onshore and offshore licenses across Norway, the Kurdistan region of Iraq, the U.K., Côte d’Ivoire and Yemen, spanning exploration, development and production.

YTD Price Performance: 18.53%

Average Trading Volume: 5,275,143

Current Market Cap: NOK17.94B

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