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Norwegian (OSEAX) Oil and Gas Exploration and Production Industry Analysis

UpdatedMay 21, 2026
DataAggregated Company Financials
Companies8
  • 7D5.3%
  • 3M25.5%
  • 1Y49.6%
  • YTDn/a

In the last week, the Oil and Gas Exploration and Production industry is up 4.6%, with all of the companies up. In the last 12 months, the industry was up 51%. Earnings are forecast to grow by 20% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 21 May 2026NOK 287.3bNOK 145.3bNOK 6.7b29.4x42.8x2x
Sat, 18 Apr 2026NOK 255.7bNOK 143.9bNOK 2.2b21.5x115.5x1.8x
Mon, 16 Mar 2026NOK 254.3bNOK 149.7bNOK 2.3b20.1x110.5x1.7x
Wed, 11 Feb 2026NOK 295.1bNOK 220.8bNOK 13.9b11x21.2x1.3x
Fri, 09 Jan 2026NOK 282.3bNOK 233.6bNOK 15.0b10.9x18.8x1.2x
Sun, 07 Dec 2025NOK 282.4bNOK 233.9bNOK 15.0b10.5x18.8x1.2x
Tue, 04 Nov 2025NOK 293.0bNOK 232.5bNOK 15.3b8x19.1x1.3x
Thu, 02 Oct 2025NOK 289.9bNOK 226.9bNOK 14.5b8.2x19.9x1.3x
Sat, 30 Aug 2025NOK 288.8bNOK 230.0bNOK 14.7b8.5x19.6x1.3x
Mon, 28 Jul 2025NOK 284.4bNOK 231.7bNOK 15.3b6.8x18.6x1.2x
Wed, 25 Jun 2025NOK 293.5bNOK 238.9bNOK 24.4b6.9x12x1.2x
Fri, 23 May 2025NOK 261.1bNOK 240.7bNOK 24.6b7.2x10.6x1.1x
Sun, 20 Apr 2025NOK 251.0bNOK 247.8bNOK 23.5b4.4x10.7x1x
Tue, 18 Mar 2025NOK 271.4bNOK 249.2bNOK 23.6b4.9x11.5x1.1x
Thu, 13 Feb 2025NOK 292.3bNOK 270.9bNOK 22.5b9.8x13x1.1x
Sat, 11 Jan 2025NOK 301.9bNOK 275.5bNOK 25.9b10.4x11.6x1.1x
Mon, 09 Dec 2024NOK 263.5bNOK 268.2bNOK 25.2b9.5x10.5x1x
Wed, 06 Nov 2024NOK 269.7bNOK 262.8bNOK 23.7b9.2x11.4x1x
Fri, 04 Oct 2024NOK 280.0bNOK 259.1bNOK 27.4b7.8x10.2x1.1x
Sun, 01 Sep 2024NOK 288.4bNOK 259.0bNOK 26.9b8.2x10.7x1.1x
Tue, 30 Jul 2024NOK 290.1bNOK 265.9bNOK 27.0b9.6x10.7x1.1x
Thu, 27 Jun 2024NOK 304.3bNOK 251.5bNOK 23.5b10.8x13x1.2x
Sat, 25 May 2024NOK 299.3bNOK 248.0bNOK 22.7b10.5x13.2x1.2x
Mon, 22 Apr 2024NOK 313.1bNOK 262.8bNOK 22.6b12.1x13.8x1.2x
Wed, 20 Mar 2024NOK 295.0bNOK 254.1bNOK 21.6b12.1x13.7x1.2x
Fri, 16 Feb 2024NOK 278.1bNOK 249.9bNOK 21.0b10.5x13.3x1.1x
Sun, 14 Jan 2024NOK 304.3bNOK 269.2bNOK 27.2b8.3x11.2x1.1x
Tue, 12 Dec 2023NOK 313.4bNOK 285.5bNOK 28.8b7.7x10.9x1.1x
Thu, 09 Nov 2023NOK 328.6bNOK 291.9bNOK 31.7b7.3x10.4x1.1x
Sat, 07 Oct 2023NOK 303.1bNOK 311.4bNOK 30.3b7.4x10x1x
Mon, 04 Sep 2023NOK 313.5bNOK 305.0bNOK 29.8b7.8x10.5x1x
Wed, 02 Aug 2023NOK 301.7bNOK 294.0bNOK 29.1b8.3x10.4x1x
Fri, 30 Jun 2023NOK 270.3bNOK 306.8bNOK 27.4b6.7x9.9x0.9x
Sun, 28 May 2023NOK 264.7bNOK 313.9bNOK 29.2b6.7x9.1x0.8x
Price to Earnings Ratio

9.1x


Total Market Cap: NOK 264.7bTotal Earnings: NOK 29.2bTotal Revenue: NOK 313.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 21.6x202420252026
Current Industry PE
  • Investors are optimistic on the Norwegian Oil and Gas Exploration and Production industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 43.1x which is higher than its 3-year average PE of 21.6x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 2.0x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Exploration and Production industry have declined 39% per year over the last three years,
  • Revenues have also declined 23% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

How does Norwegian Oil and Gas Exploration and Production compare with similar industries?

NO Market3.19%
Energy4.63%
Oil and Gas5.83%
Oil and Gas Exploration and Production5.30%
Integrated Oil and Gas6.33%
Oil and Gas Storage and Transportation3.44%
Coal and Fuels3.09%
Oil and Gas Refining and Marketing-8.47%
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
AKRBP Aker BPNOK 358.506.0%
+NOK 12.9b		51.1%PE42.6x
VAR Vår EnergiNOK 48.273.5%
+NOK 4.1b		64.6%PE18.6x
DNO DNONOK 19.953.3%
+NOK 614.3m		61.5%PS1.1x
BNOR BlueNordNOK 595.004.2%
+NOK 613.6m		2.1%PE24.6x
OKEA OKEANOK 41.057.2%
+NOK 285.8m		138.9%PS0.6x

Latest News

PEN
NOK 35.20
Panoro Energy
7D
0.7%
1Y
44.0%
Narrative Update • May 19

PEN: Extended Gabon Contract And Buybacks Will Sustain An Overstretched Outlook

Analysts now see Panoro Energy's fair value moving slightly from NOK 23.03 to around NOK 22.93, reflecting updated views on discount rates, revenue growth, profit margins, and future P/E assumptions. What's in the News CEO transition announced, with long serving Group Chief Executive Officer John Hamilton set to retire at the annual general meeting after a period of leave, and current Chief Operating Officer and President Eric d'Argentré expected to take over as CEO from 1 January 2027 (Key Developments).
BWE
NOK 57.10
BW Energy
7D
0.2%
1Y
73.3%
Narrative Update • May 17

BWE: Extended Dussafu Licence Will Support Long Term Cash Flow Potential

Analysts have updated their view on BW Energy, with the price target shifting from NOK 48.84 to NOK 71.73. This change reflects revised assumptions around revenue growth, profit margins and future P/E expectations.
AKRBP
NOK 358.50
Aker BP
7D
6.0%
1Y
51.1%
BNOR
NOK 595.00
BlueNord
7D
4.2%
1Y
2.1%
DNO
NOK 19.95
DNO
7D
3.3%
1Y
61.5%
Analysis Article • May 14

DNO's (OB:DNO) Solid Earnings Are Supported By Other Strong Factors

Even though DNO ASA's ( OB:DNO ) recent earnings release was robust, the market didn't seem to notice. We think that...
IOX
NOK 2.89
Interoil Exploration and Production
7D
-3.7%
1Y
56.4%
PNOR
NOK 17.76
PetroNor E&P
7D
-0.3%
1Y
39.8%
OKEA
NOK 41.05
OKEA
7D
7.2%
1Y
138.9%
VAR
NOK 48.27
Vår Energi
7D
3.5%
1Y
64.6%