Vår Energi AS/Nkr VAR
1D1W1MYTD1Y5YMAX
Capital at risk
About Vår Energi AS
Vår Energi AS is an oil and gas exploration and production company based in Norway. The company focuses on extracting hydrocarbons from the Norwegian Continental Shelf, an area known for its significant oil and gas resources. Vår Energi operates across various fields, with a portfolio comprising both development projects and production activities. Formed in 2018 through the merger of Eni Norge AS and Point Resources AS, it benefits from its strategic location and advanced technology in safe and efficient operations. Headquartered in Sandnes, Norway, Vår Energi leverages its robust operational expertise to maintain a strong presence in the North Sea, Norwegian Sea, and Barents Sea.
- Ticker
- Nkr VAR
- Sector
- Energy
- Primary listing
- XOSL
- Employees
- 1,433
- Headquarters
- Sandnes, Norway
- Website
- varenergi.no
Vår Energi AS Metrics
BasicAdvanced
kr 136B
11.17
kr 4.89
-0.50
kr 4.89
8.94%
Price and volume
Market cap
kr 136B
Beta
-0.5
52-week high
kr 54.94
52-week low
kr 31.00
Average daily volume
5.8M
Dividend rate
kr 4.89
Financial strength
Current ratio
0.901
Quick ratio
0.582
Long term debt to equity
2.72
Total debt to equity
3.077
Dividend payout ratio (TTM)
91.41%
Interest coverage (TTM)
19.34%
Profitability
EBITDA (TTM)
82,367.404
Gross margin (TTM)
88.11%
Net profit margin (TTM)
13.02%
Operating margin (TTM)
56.15%
Effective tax rate (TTM)
75.27%
Revenue per employee (TTM)
kr 69,443,760
Management effectiveness
Return on assets (TTM)
13.38%
Return on equity (TTM)
93.98%
Valuation
Price to earnings (TTM)
11.169
Price to revenue (TTM)
1.369
Price to book
589.28
Price to tangible book (TTM)
-33.79
Price to free cash flow (TTM)
4.886
Free cash flow yield (TTM)
20.47%
Free cash flow per share (TTM)
11.18
Dividend yield (TTM)
8.94%
Growth
Revenue change (TTM)
49.17%
Earnings per share change (TTM)
114.17%
3-year revenue growth (CAGR)
8.31%
3-year earnings per share growth (CAGR)
21.43%
3-year dividend per share growth (CAGR)
-18.74%
Bulls say / Bears say
Q2 2026 delivered record financial results, including USD 2.1 billion of post-tax cash flow from operations, USD 3.4 billion of net debt, 0.4x leverage and USD 5.3 billion of available liquidity—substantial financial flexibility for investment and distributions. (Vår Energi)
Production growth remains strong: first-half 2026 output averaged 391 kboepd, Q2 production was up 31% year over year, and management maintained full-year guidance of 390–410 kboepd with new projects and infill wells expected to ramp in the second half. (Vår Energi)
The BlueNord combination adds long-life Danish Continental Shelf assets and is expected to lift combined production toward roughly 450 kboepd in 2026, supporting broader geographic diversification, cash generation and dividend capacity. (Reuters)
The proposed BlueNord combination requires issuing 248.4 million new Vår Energi shares—about 9.95% dilution—plus NOK 1.964 billion in cash, creating execution and shareholder-return risk if projected synergies disappoint. (Reuters)
Vår Energi remains highly sensitive to oil and gas prices: management said the company is “strongly leveraged” to the current high-price environment, implying weaker commodity prices could pressure cash flow and dividends. (Vår Energi)
The growth plan is execution-heavy, with 16 projects already in execution and 30 more being matured; Q2 production also fell 7% sequentially to 376 kboepd during turnarounds, leaving 2026 guidance dependent on successful project and well ramp-ups. (Vår Energi, Vår Energi)
Data summarised monthly by Lightyear AI. Last updated on 8 Sept 2026.
Upcoming events
No upcoming events
Funds containing Vår Energi AS
AllUSDEURGBP
Fund name | Fund size | Nkr VAR weighting |
|---|---|---|
iShares Oil & Gas Exploration & Production$IOGP | $438M | 0.70% |
iShares Oil & Gas Exploration & Production€IOGP | €376M | 0.70% |
iShares Oil & Gas Exploration & Production£SPOG | £323M | 0.70% |
iShares STOXX Europe 600 Oil & Gas€EXH1 | €588M | 0.55% |
iShares MSCI Europe ex-UK€IEUX | €1.5B | 0.05% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Market data provided by CBOE Europe and Deutsche Börse.