Equinor third quarter 2024 results
Equinor ((OSE: EQNR, NYSE:EQNR) delivered adjusted operating income* of USD 6.89 billion and USD 2.04 billion after tax in the third quarter of 2024. Equinor reported net operating income of USD 6.91 billion and net income at USD 2.29 billion. Adjusted net income* was USD 2.19 billion, leading to adjusted earnings per share* of USD 0.79.
Financial and operational performance
Solid financial results
Effective execution of extensive turnaround programme
Strong cash flow from operations
Strategic progress
All-time high production from the Troll field in the gas year
Northern Lights facility completed and ready to receive CO2
Acquired a 9.8 percent stake in Ørsted in October
Capital distribution
Third quarter ordinary cash dividend of USD 0.35 per share, extraordinary cash dividend of USD 0.35 per share and fourth tranche of share buy-back of up to USD 1.6 billion
Total capital distribution for 2024 in line with announced level of around USD 14 billion
Anders Opedal, President and CEO of Equinor ASA:
"With solid operational performance and results, we are well on track to deliver strong cashflow from operations in line with what we said at the capital markets update in February."
"Over time, we have upgraded the capacity in the gas value chain. This has contributed to an all-time high production from the Troll field in the gas year. In the quarter, the Johan Sverdrup field delivered a production record of more than 756 000 barrels of oil in one day and reached the milestone of one billion barrels produced since the start-up five years ago. This strengthens our position to deliver safe and reliable energy to Europe."
"We continue to invest in renewables and develop low carbon value chains. In the quarter, the world's first commercial storage facility, Northern Lights, was completed and is now ready to receive CO2 from customers."
Operational performance
Equinor delivered a total equity production of 1,984 mboe per day in the third quarter, down from 2,007 mboe in the same quarter last year.
On the Norwegian continental shelf (NCS), production increased by 2 percent compared to the third quarter 2023. This was due to high gas production from the Troll field and positive contributions from Aasta Hansteen and Oseberg. The increase was partially ...
