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1. Company Snapshot

1.a. Company Description

Aker BP ASA engages in the exploration, development, and production of oil and gas on the Norwegian Continental Shelf.The company has working interests in 36 fields/projects.As of December 31, 2021, its total net proven reserves were 599 million barrels of oil equivalents; and estimated total net proven plus probable reserves were 802 million barrels of oil equivalents.


The company was formerly known as Det norske oljeselskap ASA and changed its name to Aker BP ASA in October 2016.Aker BP ASA was founded in 2001 and is headquartered in Fornebu, Norway.

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1.b. Last Insights on AKRBP

Aker BP ASA's recent performance was negatively impacted by the absence of a recent earnings release, which typically provides a comprehensive view of the company's financials. However, preliminary production and sales figures for Q1 2025, released on April 7, 2025, indicate a slowdown in production, which may be attributed to operational challenges. Furthermore, the company's decision to extend its alliance agreement with SLB and Stimwell Services for another five years, announced on April 3, 2025, is a positive development, but its impact on the current quarter's performance is unclear.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Pioneering collaboration on CO₂ logistics at Stockholm Norvik Port

Dec -04

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DNO announces stake sale in Ekofisk PPF project to Orlen Upstream Norway

Nov -18

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DNO (OB:DNO): Valuation in Focus Following Strategic Deals, Production Upgrade, and Dividend Announcement

Nov -16

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Aker BP and partners drill dry well in North Sea

Nov -10

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How Investors Are Reacting To Aker BP (OB:AKRBP) Securing Oversubscribed $4.23 Billion Refinancing

Nov -06

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DNO and Aker BP agree to swap Norwegian Sea assets

Nov -05

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DNO Reports Multi-Asset Swap with Aker BP

Nov -05

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DeepOcean and partners to launch new subsea flowline heating technology

Oct -22

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (1.54%)

6. Segments

Liquids

Expected Growth: 1.5%

Aker BP ASA's 1.5% growth in liquids is driven by increased production from the Ivar Aasen and Skarv fields, coupled with successful drilling campaigns and improved operational efficiency. Additionally, the company's focus on cost reduction and capital discipline has enabled it to maintain a competitive edge in the market.

Gas

Expected Growth: 1.8%

Aker BP ASA's 1.8% growth in gas production is driven by increased drilling activities, improved reservoir management, and enhanced oil recovery techniques. Additionally, the company's focus on cost optimization and operational efficiency has enabled it to reduce costs and increase profitability, further supporting growth.

Tariff

Expected Growth: 2.2%

Aker BP ASA's 2.2% growth driven by increasing oil prices, improved operational efficiency, and strategic investments in high-margin projects. Additionally, the company's focus on cost reduction and divestment of non-core assets have contributed to the growth. Furthermore, Aker BP ASA's strong balance sheet and cash flow generation have enabled the company to invest in growth opportunities, driving future expansion.

7. Detailed Products

Exploration Services

Aker BP ASA provides exploration services to discover new oil and gas reserves, utilizing advanced seismic and drilling technologies to identify potential hydrocarbon-bearing areas.

Production and Operations

Aker BP ASA operates and maintains oil and gas fields, ensuring efficient and safe production of hydrocarbons, while minimizing environmental impact.

Drilling and Well Services

Aker BP ASA offers drilling and well services, including drilling, completion, and intervention operations, to optimize hydrocarbon recovery.

Decommissioning and Abandonment

Aker BP ASA provides decommissioning and abandonment services, safely and efficiently decommissioning and removing oil and gas infrastructure at the end of its life cycle.

Renewable Energy Solutions

Aker BP ASA invests in renewable energy solutions, such as offshore wind and hydrogen production, to reduce carbon emissions and transition to a low-carbon future.

8. Aker BP ASA's Porter Forces

Forces Ranking

Threat Of Substitutes

Aker BP ASA operates in the oil and gas industry, where substitutes are limited. However, the increasing focus on renewable energy sources and electrification of transportation may pose a threat to the company's operations.

Bargaining Power Of Customers

Aker BP ASA's customers are primarily large industrial companies and governments, which have limited bargaining power due to their dependence on the company's oil and gas products.

Bargaining Power Of Suppliers

Aker BP ASA relies on a network of suppliers for equipment, services, and materials. While the company has some bargaining power due to its size, suppliers may still exert some pressure on prices and delivery terms.

Threat Of New Entrants

The oil and gas industry has high barriers to entry, including significant capital requirements, complex regulatory frameworks, and the need for specialized expertise. This limits the threat of new entrants.

Intensity Of Rivalry

The oil and gas industry is highly competitive, with many established players competing for market share. Aker BP ASA faces intense rivalry from other major oil and gas companies, which may lead to pricing pressures and reduced market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 34.47%
Debt Cost 9.70%
Equity Weight 65.53%
Equity Cost 9.70%
WACC 9.70%
Leverage 52.60%

11. Quality Control: Aker BP ASA passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Peyto Exploration

A-Score: 7.0/10

Value: 5.7

Growth: 4.7

Quality: 6.6

Yield: 9.0

Momentum: 7.5

Volatility: 8.3

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Aker BP

A-Score: 6.9/10

Value: 6.0

Growth: 7.3

Quality: 5.5

Yield: 10.0

Momentum: 6.0

Volatility: 6.3

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Chord Energy

A-Score: 6.5/10

Value: 8.1

Growth: 8.1

Quality: 5.1

Yield: 10.0

Momentum: 1.5

Volatility: 6.0

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Whitecap Resources

A-Score: 6.4/10

Value: 5.7

Growth: 6.0

Quality: 6.9

Yield: 8.0

Momentum: 4.0

Volatility: 7.7

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Tourmaline Oil

A-Score: 6.3/10

Value: 4.5

Growth: 5.0

Quality: 7.4

Yield: 9.0

Momentum: 3.5

Volatility: 8.3

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Energean

A-Score: 5.0/10

Value: 3.3

Growth: 9.9

Quality: 2.4

Yield: 7.5

Momentum: 2.5

Volatility: 4.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

253.1$

Current Price

253.1$

Potential

-0.00%

Expected Cash-Flows