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Norwegian (OSEAX) Oil and Gas Drilling Industry Analysis

UpdatedJul 10, 2026
DataAggregated Company Financials
Companies9
  • 7D0.4%
  • 3M-12.7%
  • 1Y4.2%
  • YTDn/a

The Oil and Gas Drilling industry is up 1.9% in the last week, with Odfjell Drilling up 2.3%. This means that the industry has gained 3.3% over the past year. As for the next few years, earnings are expected to grow by 24% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 10 Jul 2026NOK 52.4bNOK 42.8bNOK 2.1b7.2x24.9x1.2x
Sun, 07 Jun 2026NOK 53.2bNOK 40.6bNOK 1.5b8x35.6x1.3x
Tue, 05 May 2026NOK 57.3bNOK 39.6bNOK 356.5m10.2x160.6x1.4x
Thu, 02 Apr 2026NOK 55.2bNOK 41.1bNOK 414.8m9.6x133x1.3x
Sat, 28 Feb 2026NOK 242.1bNOK 39.9bNOK 849.7m11.4x285x6.1x
Mon, 26 Jan 2026NOK 221.1bNOK 40.5bNOK 579.0m10.2x382x5.5x
Wed, 24 Dec 2025NOK 217.9bNOK 41.5bNOK 586.1m9.2x371.8x5.3x
Fri, 21 Nov 2025NOK 196.2bNOK 51.5bNOK 1.1b5.4x173.5x3.8x
Sun, 19 Oct 2025NOK 188.3bNOK 50.2bNOK 695.0m5.9x270.9x3.7x
Tue, 16 Sep 2025NOK 196.8bNOK 49.2bNOK 685.6m5.8x287x4x
Thu, 14 Aug 2025NOK 157.9bNOK 50.2bNOK 1.2b7.4x131.9x3.1x
Sat, 12 Jul 2025NOK 33.6bNOK 44.1bNOK 1.6b7.1x21.5x0.8x
Mon, 09 Jun 2025NOK 37.4bNOK 49.8bNOK 927.7m7x40.3x0.8x
Wed, 07 May 2025NOK 34.1bNOK 43.5bNOK 3.2b4.5x10.8x0.8x
Fri, 04 Apr 2025NOK 36.9bNOK 40.8bNOK 2.5b6.5x14.9x0.9x
Sun, 02 Mar 2025NOK 35.7bNOK 44.7bNOK 2.4b6.1x14.7x0.8x
Tue, 28 Jan 2025NOK 37.0bNOK 44.0bNOK 3.0b6.8x12.3x0.8x
Thu, 26 Dec 2024NOK 44.6bNOK 55.3bNOK 4.0b8.6x11.2x0.8x
Sat, 23 Nov 2024NOK 46.4bNOK 54.6bNOK 4.3b9.5x10.7x0.8x
Mon, 21 Oct 2024NOK 50.5bNOK 52.1bNOK 5.4b11.4x9.3x1x
Wed, 18 Sep 2024NOK 52.7bNOK 52.0bNOK 4.5b11.8x11.6x1x
Fri, 16 Aug 2024NOK 57.0bNOK 51.5bNOK 3.0b6.2x19.2x1.1x
Sun, 14 Jul 2024NOK 61.6bNOK 50.4bNOK 2.7b6.8x23x1.2x
Tue, 11 Jun 2024NOK 50.2bNOK 48.3bNOK 2.9b6.9x17.2x1x
Thu, 09 May 2024NOK 44.5bNOK 46.2bNOK 1.2b7.5x35.9x1x
Sat, 06 Apr 2024NOK 44.0bNOK 45.5bNOK 1.1b7.4x39.1x1x
Mon, 04 Mar 2024NOK 77.5bNOK 60.5bNOK 4.7b10.4x16.6x1.3x
Wed, 31 Jan 2024NOK 77.8bNOK 54.6bNOK 2.5b11.2x31.7x1.4x
Fri, 29 Dec 2023NOK 82.2bNOK 53.4bNOK 2.4b11.9x34.2x1.5x
Sun, 26 Nov 2023NOK 83.3bNOK 53.6bNOK 1.3b21.4x66.6x1.6x
Tue, 24 Oct 2023NOK 84.3bNOK 52.4b-NOK 1,648,001,059.0025.4x-51.2x1.6x
Thu, 21 Sep 2023NOK 92.0bNOK 49.9b-NOK 1,626,974,444.0015.8x-56.5x1.8x
Sat, 19 Aug 2023NOK 89.4bNOK 48.6b-NOK 1,676,163,150.0013.2x-53.4x1.8x
Mon, 17 Jul 2023NOK 79.8bNOK 42.4b-NOK 4,452,756,158.0010.2x-17.9x1.9x
Price to Earnings Ratio

-17.9x


Total Market Cap: NOK 79.8bTotal Earnings: -NOK 4,452,756,158.00Total Revenue: NOK 42.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Oil and Gas Drilling Industry Price to Earnings3Y Average 87.2x202420252026
Current Industry PE
  • Investors are pessimistic on the Norwegian Oil and Gas Drilling industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 24.9x which is lower than its 3-year average PE of 87.2x.
  • The 3-year average PS ratio of 2.0x is higher than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • Total earnings for the Oil and Gas Drilling industry have gone up over the last three years, and the industry is now profitable.
  • Revenues have remained mostly flat. This means that the industry has become more efficient since profits are increasing while sales have been flat.

Industry Comparison

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

NO Market1.06%
Energy4.19%
Energy Services2.33%
Oil and Gas Drilling0.43%
Oil and Gas Services2.77%
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
ODL Odfjell DrillingNOK 84.902.3%
+NOK 455.6m		17.8%PE10x
PLSV Paratus Energy ServicesNOK 46.452.3%
+NOK 170.9m		29.7%PE7.2x
OTL Odfjell TechnologyNOK 56.302.4%
+NOK 51.3m		11.9%PE7.5x
ARCH ArcherNOK 23.701.5%
+NOK 34.8m		0.9%PS0.2x
VTURA Ventura Offshore HoldingNOK 28.201.1%
+NOK 31.8m		31.2%PE3.1x

Latest News

NOL
NOK 7.70
Northern Ocean
7D
-5.2%
1Y
31.0%
ODL
NOK 84.90
Odfjell Drilling
7D
2.3%
1Y
17.8%
Narrative Update • Jul 02

ODL: Dividend Strength Will Support Returns Despite More Cautious Market Outlook

The analyst price target for Odfjell Drilling has been revised lower from about NOK 113.91 to around NOK 102.21, as analysts apply a higher discount rate and more cautious revenue growth and future P/E assumptions following the recent bearish Street research. What’s in the News for Odfjell Drilling Odfjell Drilling’s Board has approved a cash dividend of $0.25 per share, totaling $60 million, for the first quarter of 2026.
DDRIL
NOK 2.58
Dolphin Drilling
7D
2.8%
1Y
-88.5%
OTL
NOK 56.30
Odfjell Technology
7D
2.4%
1Y
11.9%
Narrative Update • Jun 26

OTL: Backlog Expansion From North Sea Contracts Will Support Rerating

Analysts have lifted their 12 month price target for Odfjell Technology from NOK 65.25 to NOK 80.00, citing updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E levels. What’s in the News for Odfjell Technology Odfjell Technology signed a 5.5 year firm contract with ConocoPhillips Skandinavia AS for integrated services in the North Sea.
VTURA
NOK 28.20
Ventura Offshore Holding
7D
1.1%
1Y
31.2%
Narrative Update • Jun 26

VTURA: Backlog Extensions And Margin Upside Will Support Future Upside

Ventura Offshore Holding's analyst price target has been raised from about NOK 30.19 to about NOK 38.22. Analysts cite updated assumptions for slightly higher revenue growth, a stronger profit margin profile, a modestly lower discount rate, and a lower future P/E multiple as key drivers of the revised valuation.
ARCH
NOK 23.70
Archer
7D
1.5%
1Y
0.9%
Narrative Update • Jun 16

ARCH: Contract Extensions And Acquisitions Will Support Future Stock Returns

Archer's analyst price target has been revised to NOK 38.94. Analysts cite updated assumptions for the discount rate, revenue growth, profit margin and future P/E as the key inputs behind this adjustment.
PLSV
NOK 46.45
Paratus Energy Services
7D
2.3%
1Y
29.7%
Analysis Article • Jun 06

Solid Earnings May Not Tell The Whole Story For Paratus Energy Services (OB:PLSV)

The recent earnings posted by Paratus Energy Services Ltd. ( OB:PLSV ) were solid, but the stock didn't move as much as...
COSH
NOK 132.00
Constellation Oil Services Holding
7D
-3.6%
1Y
75.3%