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

UpdatedJun 17, 2026
DataAggregated Company Financials
Companies8
  • 7D-7.5%
  • 3M-7.2%
  • 1Y14.2%
  • YTDn/a

Over the last 7 days, the Oil and Gas Exploration and Production industry has dropped 7.5%, driven by pullbacks from every company within the industry. Over the past 12 months, the industry was up 14%. Earnings are forecast to grow by 22% 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
Wed, 17 Jun 2026NOK 254.4bNOK 147.8bNOK 6.1b29.3x42x1.7x
Fri, 15 May 2026NOK 272.8bNOK 144.9bNOK 6.8b34.3x40.2x1.9x
Sun, 12 Apr 2026NOK 270.9bNOK 145.9bNOK 2.2b22.6x120.8x1.9x
Tue, 10 Mar 2026NOK 248.4bNOK 147.4bNOK 2.3b20.1x109.6x1.7x
Thu, 05 Feb 2026NOK 295.3bNOK 222.6bNOK 14.2b10.7x20.8x1.3x
Sat, 03 Jan 2026NOK 293.1bNOK 232.7bNOK 15.0b10.8x19.6x1.3x
Mon, 01 Dec 2025NOK 275.1bNOK 234.2bNOK 15.1b10.5x18.3x1.2x
Wed, 29 Oct 2025NOK 282.4bNOK 228.8bNOK 15.5b8x18.3x1.2x
Fri, 26 Sep 2025NOK 298.8bNOK 229.9bNOK 14.7b8.3x20.3x1.3x
Sun, 24 Aug 2025NOK 288.5bNOK 230.0bNOK 14.7b8.8x19.6x1.3x
Tue, 22 Jul 2025NOK 283.7bNOK 232.8bNOK 15.7b6.7x18.1x1.2x
Thu, 19 Jun 2025NOK 308.5bNOK 235.5bNOK 24.0b7.2x12.8x1.3x
Sat, 17 May 2025NOK 271.6bNOK 246.2bNOK 25.4b4.9x10.7x1.1x
Mon, 14 Apr 2025NOK 244.6bNOK 251.7bNOK 23.8b4.3x10.3x1x
Wed, 12 Mar 2025NOK 262.6bNOK 251.6bNOK 23.8b4.7x11x1x
Fri, 07 Feb 2025NOK 282.7bNOK 269.9bNOK 26.4b9.9x10.7x1x
Sun, 05 Jan 2025NOK 289.7bNOK 272.7bNOK 25.6b10.1x11.3x1.1x
Tue, 03 Dec 2024NOK 269.4bNOK 267.5bNOK 25.1b9.6x10.7x1x
Thu, 31 Oct 2024NOK 274.4bNOK 269.7bNOK 27.9b7.3x9.8x1x
Sat, 28 Sep 2024NOK 259.3bNOK 256.6bNOK 27.1b7.3x9.6x1x
Mon, 26 Aug 2024NOK 291.8bNOK 254.9bNOK 26.4b8.4x11x1.1x
Wed, 24 Jul 2024NOK 294.0bNOK 260.8bNOK 25.8b9.6x11.4x1.1x
Fri, 21 Jun 2024NOK 302.2bNOK 248.5bNOK 23.2b10.8x13.1x1.2x
Sun, 19 May 2024NOK 297.5bNOK 250.4bNOK 23.6b9.9x12.6x1.2x
Tue, 16 Apr 2024NOK 323.3bNOK 261.1bNOK 22.5b12.6x14.4x1.2x
Thu, 14 Mar 2024NOK 286.6bNOK 250.3bNOK 21.3b11.9x13.5x1.1x
Sat, 10 Feb 2024NOK 283.2bNOK 258.9bNOK 25.2b8.7x11.3x1.1x
Mon, 08 Jan 2024NOK 318.5bNOK 269.6bNOK 27.2b8.4x11.7x1.2x
Wed, 06 Dec 2023NOK 316.4bNOK 284.5bNOK 28.7b8x11x1.1x
Fri, 03 Nov 2023NOK 347.6bNOK 291.3bNOK 31.6b7.8x11x1.2x
Sun, 01 Oct 2023NOK 314.7bNOK 305.6bNOK 29.8b8.2x10.6x1x
Tue, 29 Aug 2023NOK 306.4bNOK 305.6bNOK 29.5b7.9x10.4x1x
Thu, 27 Jul 2023NOK 297.8bNOK 291.4bNOK 28.8b8.2x10.3x1x
Sat, 24 Jun 2023NOK 267.0bNOK 308.6bNOK 27.5b6.6x9.7x0.9x
Price to Earnings Ratio

9.7x


Total Market Cap: NOK 267.0bTotal Earnings: NOK 27.5bTotal Revenue: NOK 308.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 22.5x202420252026
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 42.0x which is higher than its 3-year average PE of 22.5x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.7x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Exploration and Production industry have declined 40% per year over the last three years,
  • Revenues have also declined 22% 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 Market-2.31%
Energy-5.01%
Oil and Gas-6.08%
Oil and Gas Exploration and Production-7.46%
Oil and Gas Storage and Transportation0.77%
Coal and Fuels0.39%
Oil and Gas Refining and Marketing0%0
Integrated Oil and Gas-6.47%
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
No data available

Latest News

BWE
NOK 52.20
BW Energy
7D
-10.2%
1Y
39.0%
OKEA
NOK 34.30
OKEA
7D
-10.3%
1Y
82.8%
AKRBP
NOK 319.10
Aker BP
7D
-8.2%
1Y
14.0%
DNO
NOK 17.49
DNO
7D
-8.4%
1Y
26.5%
Narrative Update • Jun 07

DNO: New North Sea Field Start Up Will Support Future Upside

Analysts have kept their NOK 25.00 price target for DNO unchanged, citing modest adjustments to discount rate assumptions, a shift in expected revenue growth and profit margin, and a slightly lower future P/E estimate. What's in the News DNO reported operating results for the first quarter of 2026, with gross operated production in Kurdistan of 52,800 boepd and in the North Sea of 7,145 boepd, along with net production in the North Sea of 88,647 boepd and in Kurdistan of 39,600 boepd, plus 3,424 boepd of equity accounted production in West Africa.
BNOR
NOK 531.00
BlueNord
7D
-6.2%
1Y
-14.8%
VAR
NOK 43.31
Vår Energi
7D
-10.7%
1Y
25.8%
Narrative Update • Jun 05

VAR: Project Execution And Steady Volumes Will Shape Balanced Future Returns

Analysts have nudged their average price target for Vår Energi higher to around NOK 49. This reflects a slightly higher assumed fair value and profit margin, set against more cautious revenue growth assumptions and a modestly higher discount rate after a mix of recent upgrades and one downgrade.
PEN
NOK 29.25
Panoro Energy
7D
-6.7%
1Y
14.0%
Narrative Update • Jun 04

PEN: Extended Gabon Contract And Buybacks Will Support A More Balanced Outlook

Analysts have lifted their price target on Panoro Energy to NOK 40, up from about NOK 23. This reflects updated assumptions for fair value, discount rate, revenue growth, profit margins and future P/E.
PNOR
NOK 11.04
PetroNor E&P
7D
-9.8%
1Y
2.6%