BlueNord-Soft June production-07/06/2026

Research evidence excerpt

BlueNord-Soft June production-07/06/2026

BlueNord

NEWSFLASH | 6 JUL 2026

Soft June production

BlueNord reports June production of 30.4 kbd (Tyra 12.8 kbd, base assets 17.6 kbd), down from 37.1 kbd in May and the low

point of the quarter as June carried the tail of the scheduled maintenance program. Tyra was down for the planned

Harald/full-hub shutdown through 20 June, with restart slipping three days on a HV cable repair and an LP compressor trip.

The company said the program improved reliability at Tyra and increased capacity at Harald. Importantly, Tyra exited June

producing above 26 kbd net and achieved a record gas production rate in the final days of the month. Regarding the base

assets, Halfdan remained stable, while Dan and Gorm were impacted by temporary operational issues, with normal

production expected by August and July, respectively. Q2 thus averaged ~37 kbd, below the 39-46 kbd quarterly guidance.

The late-June Tyra ramp and record gas rate are the important signals heading into Q3’26 where the company guides Tyra

production to increase to 25-30 kbd. We currently have a BUY TP NOK 600 on BlueNord.

Tom Erik Kristiansen

+47 24 13 21 86, tek@paretosec.com

Olav Haugerud

+47 22 87 88 07, olav.haugerud@paretosec.com

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