DNO Posts Record Revenue as North Sea Production Drives Q2 Growth

Norwegian oil and gas producer DNO reported record revenue of $761 million in the second quarter of 2026, up 21% from the previous quarter. The increase was driven by higher North Sea production, which offset the impact of suspended operations in the Kurdistan Region of Iraq (KRI).

The company averaged 88,400 barrels of oil equivalent per day (boepd) during the quarter, with the North Sea accounting for 84,900 boepd. However, KRI production averaged just 300 boepd following the suspension of operations at the Tawke license.

DNO halted production and drilling at Tawke in late February as a precaution amid US-Israeli strikes on Iran. Production subsequently resumed at the Tawke and Peshkabir (Fishkhabur) fields in late June and mid-July, respectively. The company is seeking to restore output to levels recorded before the regional escalation.

DNO also offered to acquire the remaining shares in Genel Energy for 69 pence per share, a 38% premium to the company’s closing price before the offer.