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1. Company Snapshot

1.a. Company Description

OKEA ASA, an oil and gas company, engages in the development and production of oil and gas in the Norwegian continental shelf.It holds 44.56% interests in Draugen, 12% interests in Gjøa, 2.77% interests in Ivar Aasen, and 15% interests in Yme assets.The company was incorporated in 2015 and is headquartered in Trondheim, Norway.

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1.b. Last Insights on OKEA

OKEA ASA's recent performance was hindered by a high effective tax rate, which weighed on its financial metrics. The company's robust production and operational performance were overshadowed by macroeconomic uncertainties, which likely impacted its revenue growth. Additionally, the high tax rate may have reduced the company's profitability, making it challenging to maintain its financial momentum.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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OKEA (OB:OKEA) Losses Worsen by 10.4% Annually, Challenging Hopes for Near-Term Turnaround

Nov -05

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Okea ASA (OSL:OKEA) Q3 2025 Earnings Call Highlights: Strong Production and Financial Stability ...

Nov -04

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Okea ASA (OSL:OKEA) Q2 2025 Earnings Call Highlights: Strong Operational Performance Amid ...

Jul -17

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Okea ASA (OSL:OKEA) Q1 2025 Earnings Call Highlights: Strong Operational Performance Amid High ...

Apr -30

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Okea ASA (STU:3SX) Q3 2024 Earnings Call Highlights: Strong Operational Performance Amidst ...

Nov -01

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.50%)

6. Segments

Liquids

Expected Growth: 3.5%

Increasing demand for energy, improved operational efficiency, and strategic acquisitions are expected to drive OKEA ASA's liquids production growth.

Gas

Expected Growth: 3.5%

Increasing demand for clean energy, government initiatives promoting natural gas adoption, and OKEA ASA's strategic expansion plans drive growth in the gas segment.

7. Detailed Products

Drilling and Production Services

OKEA ASA provides drilling and production services to the oil and gas industry, offering a range of solutions for drilling, completion, and production optimization.

Well Intervention Services

OKEA ASA offers well intervention services, including coiled tubing, wireline, and pumping services, to help operators improve well productivity and extend the life of their wells.

Reservoir Management Services

OKEA ASA's reservoir management services provide operators with a comprehensive understanding of their reservoirs, enabling data-driven decisions to optimize field development and maximize hydrocarbon recovery.

Decommissioning and Abandonment Services

OKEA ASA offers decommissioning and abandonment services, providing a safe and efficient solution for operators to decommission and abandon their wells and facilities.

8. OKEA ASA's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for OKEA ASA is moderate due to the availability of alternative energy sources and the increasing demand for renewable energy.

Bargaining Power Of Customers

The bargaining power of customers for OKEA ASA is low due to the company's strong market position and the lack of alternative suppliers.

Bargaining Power Of Suppliers

The bargaining power of suppliers for OKEA ASA is moderate due to the company's dependence on a few key suppliers and the potential for supply chain disruptions.

Threat Of New Entrants

The threat of new entrants for OKEA ASA is low due to the high barriers to entry in the energy industry and the company's established market position.

Intensity Of Rivalry

The intensity of rivalry for OKEA ASA is high due to the competitive nature of the energy industry and the company's need to constantly innovate and adapt to changing market conditions.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 70.98%
Debt Cost 3.95%
Equity Weight 29.02%
Equity Cost 9.28%
WACC 5.49%
Leverage 244.56%

11. Quality Control: OKEA ASA passed 3 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

Stock-Card
TotalEnergies EP Gabon

A-Score: 6.8/10

Value: 7.8

Growth: 2.8

Quality: 8.0

Yield: 10.0

Momentum: 6.0

Volatility: 6.3

1-Year Total Return ->

Stock-Card
Serica Energy

A-Score: 6.1/10

Value: 5.7

Growth: 5.3

Quality: 6.0

Yield: 9.4

Momentum: 9.5

Volatility: 1.0

1-Year Total Return ->

Stock-Card
BW Energy

A-Score: 5.6/10

Value: 6.8

Growth: 7.9

Quality: 7.1

Yield: 0.0

Momentum: 9.5

Volatility: 2.3

1-Year Total Return ->

Stock-Card
DNO

A-Score: 5.4/10

Value: 8.2

Growth: 2.9

Quality: 2.1

Yield: 9.4

Momentum: 7.0

Volatility: 3.0

1-Year Total Return ->

Stock-Card
Seplat Energy

A-Score: 5.4/10

Value: 7.6

Growth: 4.0

Quality: 5.3

Yield: 8.1

Momentum: 4.5

Volatility: 3.0

1-Year Total Return ->

Stock-Card
OKEA

A-Score: 5.1/10

Value: 8.0

Growth: 7.3

Quality: 6.6

Yield: 3.8

Momentum: 1.0

Volatility: 4.0

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

22.35$

Current Price

22.35$

Potential

-0.00%

Expected Cash-Flows