Vår Energi ASA (OTCPK:VARRY) Q3 2025 Earnings Call October 21, 2025 4:00 AM EDT
Company Participants
Ida Fjellheim – Vice President of Investor Relations
Nicholas Walker – Chief Executive Officer
Carlo Santopadre – Chief Financial Officer
Conference Call Participants
Teodor Nilsen – Sparebank 1 Markets AS, Research Division
Tianhong Bi – Citigroup Inc., Research Division
Mark Wilson – Jefferies LLC, Research Division
Victoria McCulloch – RBC Capital Markets, Research Division
Naisheng Cui – Barclays Bank PLC, Research Division
John Olaisen – ABG Sundal Collier Holding ASA, Research Division
Alejandra Magana – JPMorgan Chase & Co, Research Division
Presentation
Ida Fjellheim
Vice President of Investor Relations
Good morning, everyone. It’s a real pleasure to welcome you all to Vår Energi’s Third Quarter 2025 Presentation Results. The presentation today will be given by our CEO, Nick Walker; and our CFO, Carlo Santopadre.
I will hand the word over to Nick before we open up for questions.
Nicholas Walker
Chief Executive Officer
Well, thank you, Ida, and good morning to all, and thank you for joining us today for our third quarter ’25 results presentation. I’m pleased to report strong results for the quarter. We’ve delivered transformational growth ahead of schedule and a pipeline of new projects is being progressed for long-term value creation. With our major projects complete, the company has derisked and has a strong resilience to a lower price environment. We also have significant flexibility with the majority of our capital spend uncommitted to 2030, and we’ll use this flexibility to optimize our investment program through this lower price period. Vår Energi has never been in a stronger position to continue to deliver high value and attractive shareholder returns.
So now let us look at the highlights for the quarter. Our production milestones have been met ahead of schedule. We delivered production of 370,000 barrels of oil equivalent per
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