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Norwegian (OSEAX) Oil and Gas Drilling Industry Analysis

UpdatedFeb 21, 2026
DataAggregated Company Financials
Companies8
  • 7D3.1%
  • 3M25.9%
  • 1Y34.9%
  • YTDn/a

Over the last 7 days, the Oil and Gas Drilling industry has risen 3.1%, driven by gains from Constellation Oil Services Holding of 2.7%. Meanwhile, Deep Value Driller actually underperformed within the industry, shrinking 6.8% in the last week. This means that the industry has gained 35% over the past year. Looking forward, earnings are forecast to grow by 67% annually.

Industry Valuation and Performance

Has the Norwegian Oil and Gas Drilling Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 22 Feb 2026NOK 244.3bNOK 39.6bNOK 572.8m11.2x426.5x6.2x
Tue, 20 Jan 2026NOK 219.3bNOK 41.5bNOK 586.1m9.6x374.1x5.3x
Thu, 18 Dec 2025NOK 215.7bNOK 42.0bNOK 589.9m9.3x365.6x5.1x
Sat, 15 Nov 2025NOK 198.2bNOK 51.0bNOK 1.1b5.2x176.6x3.9x
Mon, 13 Oct 2025NOK 191.0bNOK 50.6bNOK 698.2m6.2x273.6x3.8x
Wed, 10 Sep 2025NOK 190.2bNOK 50.0bNOK 692.3m5.7x274.7x3.8x
Fri, 08 Aug 2025NOK 163.2bNOK 50.3bNOK 935.4m7.6x174.5x3.2x
Sun, 06 Jul 2025NOK 39.8bNOK 49.6bNOK 925.6m7.1x43x0.8x
Tue, 03 Jun 2025NOK 37.8bNOK 49.6bNOK 2.8b4.4x13.3x0.8x
Thu, 01 May 2025NOK 35.1bNOK 41.0bNOK 2.5b6.4x14.1x0.9x
Sat, 29 Mar 2025NOK 39.8bNOK 41.3bNOK 2.5b7x15.9x1x
Mon, 24 Feb 2025NOK 37.7bNOK 43.9bNOK 2.8b7.8x13.3x0.9x
Wed, 22 Jan 2025NOK 36.5bNOK 44.2bNOK 3.0b6.8x12x0.8x
Fri, 20 Dec 2024NOK 44.2bNOK 55.8bNOK 4.0b8.5x11x0.8x
Sun, 17 Nov 2024NOK 47.5bNOK 54.6bNOK 4.3b10x11x0.9x
Tue, 15 Oct 2024NOK 53.2bNOK 52.4bNOK 4.6b11.7x11.6x1x
Thu, 12 Sep 2024NOK 50.5bNOK 52.7bNOK 3.9b5.2x13x1x
Sat, 10 Aug 2024NOK 57.7bNOK 51.0bNOK 2.7b6.3x21.3x1.1x
Mon, 08 Jul 2024NOK 60.4bNOK 47.9bNOK 2.9b6.7x21x1.3x
Wed, 05 Jun 2024NOK 47.5bNOK 48.0bNOK 2.9b6.8x16.4x1x
Fri, 03 May 2024NOK 43.2bNOK 46.5bNOK 1.2b7x34.6x0.9x
Sun, 31 Mar 2024NOK 85.4bNOK 61.9bNOK 4.4b9.6x19.5x1.4x
Tue, 27 Feb 2024NOK 78.1bNOK 56.9bNOK 3.7b15.2x21x1.4x
Thu, 25 Jan 2024NOK 81.3bNOK 54.8bNOK 2.5b11.7x33x1.5x
Sat, 23 Dec 2023NOK 80.8bNOK 53.6bNOK 2.4b11.5x33.5x1.5x
Mon, 20 Nov 2023NOK 82.2bNOK 54.1bNOK 1.3b20.8x65.2x1.5x
Wed, 18 Oct 2023NOK 87.5bNOK 51.9b-NOK 1,626,527,360.0026.9x-53.8x1.7x
Fri, 15 Sep 2023NOK 91.6bNOK 50.0b-NOK 1,630,635,051.0015.7x-56.2x1.8x
Sun, 13 Aug 2023NOK 90.6bNOK 44.7b-NOK 4,762,018,792.0011.5x-19x2x
Tue, 11 Jul 2023NOK 76.0bNOK 44.1b-NOK 4,663,364,003.009.5x-16.3x1.7x
Thu, 08 Jun 2023NOK 74.5bNOK 46.1b-NOK 4,906,982,771.009.1x-15.2x1.6x
Sat, 06 May 2023NOK 72.5bNOK 42.4bNOK 33.7b7.7x2.2x1.7x
Mon, 03 Apr 2023NOK 64.0bNOK 43.2bNOK 33.8b8.1x1.9x1.5x
Wed, 01 Mar 2023NOK 64.2bNOK 33.2bNOK 34.6b8.2x1.9x1.9x
Price to Earnings Ratio

1.9x


Total Market Cap: NOK 64.2bTotal Earnings: NOK 34.6bTotal Revenue: NOK 33.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Oil and Gas Drilling Industry Price to Earnings3Y Average 67.3x202420252026
Current Industry PE
  • Investors are optimistic on the Norwegian Oil and Gas Drilling industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 426x which is higher than its 3-year average PE of 66.9x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 6.2x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Drilling industry have declined 75% per year over the last three years.
  • Meanwhile revenues for these companies have grown 6.1% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

How does Norwegian Oil and Gas Drilling compare with similar industries?

NO Market3.13%
Energy3.36%
Energy Services4.12%
Oil and Gas Drilling3.15%
Oil and Gas Services5.33%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
COSH Constellation Oil Services HoldingNOK 131.502.7%
+NOK 5.3b		n/aPS38.9x
ODL Odfjell DrillingNOK 104.605.9%
+NOK 1.4b		61.2%PE18.4x
PLSV Paratus Energy ServicesNOK 51.604.8%
+NOK 380.8m		14.0%PE15.4x
ARCH ArcherNOK 25.854.7%
+NOK 114.4m		-7.7%PS0.2x
VTURA Ventura Offshore HoldingNOK 25.504.1%
+NOK 105.7m		3.9%PE2.7x

Latest News

ODL
NOK 104.60
Odfjell Drilling
7D
5.9%
1Y
61.2%

ODL: Contract Backlog And Dividend Will Support Steady Future Share Performance

Analysts have slightly raised their price target for Odfjell Drilling, with fair value moving from NOK 101.06 to NOK 102.41. This adjustment reflects updated assumptions on revenue growth, profit margins and a lower expected future P/E multiple.
DVD
NOK 18.64
Deep Value Driller
7D
-6.8%
1Y
18.0%

Deep Value Driller's (OB:DVD) Solid Earnings Have Been Accounted For Conservatively

Feb 16
Deep Value Driller's (OB:DVD) Solid Earnings Have Been Accounted For Conservatively
DDRIL
NOK 2.60
Dolphin Drilling
7D
8.2%
1Y
-99.7%
NOL
NOK 9.43
Northern Ocean
7D
2.3%
1Y
22.2%
ARCH
NOK 25.85
Archer
7D
4.7%
1Y
-7.7%

ARCH: Long-Term Contracts And P&A Awards Will Support Future Earnings

Analysts have maintained Archer's fair value estimate at US$36.00 while updating their assumptions around growth, profitability and P/E. This reflects a more measured outlook on revenue expansion and margins in their latest price target work.
VTURA
NOK 25.50
Ventura Offshore Holding
7D
4.1%
1Y
3.9%

Brazil Tender Uncertainty And Survey Downtime Will Pressure Offshore Rigs Yet Long Contracts Offer Cushion

Catalysts About Ventura Offshore Holding Ventura Offshore Holding operates offshore drilling rigs under long term contracts with major oil and gas companies, including Petrobras and ENI. What are the underlying business or industry changes driving this perspective?
PLSV
NOK 51.60
Paratus Energy Services
7D
4.8%
1Y
14.0%
COSH
NOK 131.50
Constellation Oil Services Holding
7D
2.7%
1Y
n/a
OTL
NOK 60.70
Odfjell Technology
7D
1.8%
1Y
21.8%