DNO ASA

OB:DNO Stock Report

Market Cap: NOK 15.9b

DNO Management

Management criteria checks 4/4

DNO's CEO is Chris Spencer, appointed in Sep 2023, has a tenure of 2.33 years. total yearly compensation is $921.70K, comprised of 70.4% salary and 29.6% bonuses, including company stock and options. directly owns 0.15% of the company’s shares, worth NOK23.87M. The average tenure of the management team and the board of directors is 3.4 years and 3.6 years respectively.

Key information

Chris Spencer

Chief executive officer

US$921.7k

Total compensation

CEO salary percentage70.40%
CEO tenure2.3yrs
CEO ownership0.2%
Management average tenure3.4yrs
Board average tenure3.6yrs

Recent management updates

Recent updates

DNO (OB:DNO) Takes On Some Risk With Its Use Of Debt

Mar 23
DNO (OB:DNO) Takes On Some Risk With Its Use Of Debt
User avatar

Reopening The Iraqi-Turkish Pipeline Will Increase Future Production Levels

Strategic acquisitions and exploration in the North Sea could drive revenue growth and strengthen earnings.

DNO (OB:DNO) Could Be Struggling To Allocate Capital

Oct 09
DNO (OB:DNO) Could Be Struggling To Allocate Capital

What You Can Learn From DNO ASA's (OB:DNO) P/S

Sep 16
What You Can Learn From DNO ASA's (OB:DNO) P/S

We Think You Can Look Beyond DNO's (OB:DNO) Lackluster Earnings

Aug 23
We Think You Can Look Beyond DNO's (OB:DNO) Lackluster Earnings

DNO (OB:DNO) Is Increasing Its Dividend To $0.3125

Aug 19
DNO (OB:DNO) Is Increasing Its Dividend To $0.3125

It's A Story Of Risk Vs Reward With DNO ASA (OB:DNO)

Mar 08
It's A Story Of Risk Vs Reward With DNO ASA (OB:DNO)

DNO ASA (OB:DNO) Analysts Are More Bearish Than They Used To Be

Feb 13
DNO ASA (OB:DNO) Analysts Are More Bearish Than They Used To Be

DNO (OB:DNO) Takes On Some Risk With Its Use Of Debt

Jan 21
DNO (OB:DNO) Takes On Some Risk With Its Use Of Debt

Here's Why DNO (OB:DNO) Has Caught The Eye Of Investors

Aug 09
Here's Why DNO (OB:DNO) Has Caught The Eye Of Investors

Some Investors May Be Worried About DNO's (OB:DNO) Returns On Capital

Jul 12
Some Investors May Be Worried About DNO's (OB:DNO) Returns On Capital

An Intrinsic Calculation For DNO ASA (OB:DNO) Suggests It's 47% Undervalued

Jun 24
An Intrinsic Calculation For DNO ASA (OB:DNO) Suggests It's 47% Undervalued

DNO (OB:DNO) Seems To Use Debt Quite Sensibly

Jun 06
DNO (OB:DNO) Seems To Use Debt Quite Sensibly

Growth Investors: Industry Analysts Just Upgraded Their DNO ASA (OB:DNO) Revenue Forecasts By 13%

May 16
Growth Investors: Industry Analysts Just Upgraded Their DNO ASA (OB:DNO) Revenue Forecasts By 13%

CEO Compensation Analysis

How has Chris Spencer's remuneration changed compared to DNO's earnings?
DateTotal CompensationSalaryCompany Earnings
Sep 30 2025n/an/a

-US$102m

Jun 30 2025n/an/a

-US$91m

Mar 31 2025n/an/a

-US$47m

Dec 31 2024US$922kUS$649k

-US$27m

Sep 30 2024n/an/a

US$75m

Jun 30 2024n/an/a

US$1m

Mar 31 2024n/an/a

-US$52m

Dec 31 2023US$1mUS$583k

US$19m

Sep 30 2023n/an/a

US$57m

Jun 30 2023n/an/a

US$241m

Mar 31 2023n/an/a

US$332m

Dec 31 2022US$902kUS$579k

US$385m

Sep 30 2022n/an/a

US$407m

Jun 30 2022n/an/a

US$309m

Mar 31 2022n/an/a

US$293m

Dec 31 2021US$746kUS$577k

US$204m

Sep 30 2021n/an/a

US$79m

Jun 30 2021n/an/a

-US$75m

Mar 31 2021n/an/a

-US$195m

Dec 31 2020US$696kUS$476k

-US$286m

Sep 30 2020n/an/a

-US$175m

Jun 30 2020n/an/a

-US$149m

Mar 31 2020n/an/a

-US$17m

Dec 31 2019US$610kUS$469k

US$74m

Compensation vs Market: Chris's total compensation ($USD921.70K) is about average for companies of similar size in the Norwegian market ($USD957.80K).

Compensation vs Earnings: Chris's compensation has been consistent with company performance over the past year.

CEO

Chris Spencer

2.3yrs
Tenure
US$921,700
Compensation

Mr. Christopher Spencer, also known as Chris, served as Chief Operating Officer at DNO ASA since July 12, 2021 and serves as its Managing Director since September 07, 2023. He served as Deputy Managing Dir...

Leadership Team

NamePositionTenureCompensationOwnership
Bijan Mossavar-Rahmani
Executive Chairman14.8yrsUS$1.28m12.92%
NOK 2.1b
Christopher Spencer
Managing Director2.3yrsUS$921.70k0.15%
NOK 23.9m
Erling Synnes
Chief Information Officerno dataUS$367.50kno data
Kjersti Kaurin
Corporate Counsel & Secretaryno dataUS$279.10kno data
Geir Skau
Chief Human Resources & Corporate Services Officer7yrsUS$590.50k0.083%
NOK 13.2m
Tonje Gormley
General Counsel of Middle East7yrsUS$610.10k0.053%
NOK 8.4m
Linn Hoel
Chief Commercial Officerno dataUS$432.36k0.0060%
NOK 950.4k
Erlend Einum
Chief Business Development Officerno dataUS$420.93k0.0056%
NOK 891.6k
Wieske Paulissen
Group Head of Exploration & Subsurfaceno dataUS$368.00kno data
Sameh Hanna
General Manager of Kurdistan Region of Iraq3.4yrsUS$1.01m0.0075%
NOK 1.2m
Elisabeth Femsteinevik
General Manager of North Seano dataUS$409.70k0.013%
NOK 2.1m
Birgitte Johansen
Chief Financial Officerless than a yearno datano data
3.4yrs
Average Tenure

Experienced Management: DNO's management team is considered experienced (3.4 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Bijan Mossavar-Rahmani
Executive Chairman14.8yrsUS$1.28m12.92%
NOK 2.1b
Gunnar Hirsti
Independent Deputy Chairman of the Board18.2yrsUS$92.80k0.043%
NOK 6.8m
Elin Karfjell
Independent Director10.6yrsUS$72.20k0.0094%
NOK 1.5m
Anita Marie Aarnaes
Director3.6yrsUS$72.20k0.083%
NOK 13.3m
Ferris Hussein
Directorless than a yearno data0.0018%
NOK 292.4k
Grethe Moen
Directorless than a yearno data0.0018%
NOK 292.4k
Najmedin Meshkati
Director2.6yrsUS$72.20k0.0064%
NOK 1.0m
3.6yrs
Average Tenure
68yo
Average Age

Experienced Board: DNO's board of directors are considered experienced (3.6 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/01/06 04:06
End of Day Share Price 2026/01/06 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

DNO ASA is covered by 21 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Rafal GutajBofA Global Research
Charlie SharpCanaccord Genuity