The Norwegian Offshore Directorate (NOD) has granted Vår Energi $VAR (-0.52%) a drilling permit for an exploration well in the North Sea field.

The permit applies to well 25/8-C-23 D in production license 027.

Vår Energi is the operator of the license with a 90% stake, while its partner Kistos Energy (Norway) holds the remaining 10%.

The wells will be drilled via the Ringhorne platform, a combined accommodation, drilling and wellhead facility linked to the Balder FPSO for processing, crude oil storage and gas export.

The Ringhorne prospect, located nine kilometers north of the Balder FPSO, is part of the Balder field complex.

Vår Energi ASA$VAR (-0.52%) reports strong results for the third quarter and with transformative growth achieved ahead of schedule, a pipeline of new projects being driven forward to create long-term value.

■ Production milestones achieved ahead of schedule ■

》Average fourth quarter production expected to be ~430 kboepd

》Jotun FPSO reached peak production in September

》Additional ~180 kboepd in peak production from new projects in 2025, 7 of 9 projects in operation

》Low-risk outlook due to implementation of important projects

■ Solid financial performance ■

》Significant cash flow from operating activities of USD 1.2 billion

》Reduced net debt and available liquidity of USD 3.6 billion

》Production costs per unit expected to be around USD 10 per boe in the fourth quarter of 2025

》18% of third quarter gas volumes sold at USD 90 per boe

Development of long-term value creation

》Ten further projects to be approved in 2025

》Increase in participation in the "Ekofisk Previously Produced Fields" project for additional high-quality barrels

■ Predictable and attractive dividends ■

》Dividend for the third quarter of USD 300 million (NOK 1.211 per share) will be paid on November 25¹

》 Dividend forecast for 2025 and 2026 of USD 1.2 billion

"We are pleased with the strong results for the quarter. Seven of the nine growth projects planned to start in 2025 are already in operation, including Johan Castberg and the Jotun FPSO in the Balder field, both of which have reached full production capacity. Our company is risk-minimized and is in an unprecedentedly strong position to continue delivering high value and attractive shareholder returns.

With the strong ramp-up of our new projects, we expect fourth quarter production to average approximately 430,000 barrels of oil per day (kboepd) and are on track to achieve the midpoint of our full year guidance of 330 to 360 kboepd.

We are on track to maintain production at 350 to 400 kboepd until 2030 and beyond. This will be achieved through our portfolio of around 30 early-stage projects supported by already discovered resources, the development of which is progressing rapidly. We expect to sanction ten projects in 2025, four of which are already being advanced, with an average breakeven point below USD 35/boe. In addition, the recent acquisition of TotalEnergies' shares in the "Ekofisk Previously Produced Fields" project adds high-quality barrels at an attractive price to our portfolio.

The company is extremely resilient thanks to solid financial results, reduced net debt and efficient operating costs of USD 10.6/boe in the quarter.

Based on this strong performance, Vår Energi continues to offer attractive dividends to its shareholders. We confirm a dividend of USD 300 million for the third quarter and maintain our guidance for the total dividend payout of USD 1.2 billion for the full year 2025 and 2026," says Nick Walker, CEO of Vår Energi.

Vår Energi ASA$VAR (-0.52%) will publish its financial report for the third quarter of 2025 on Tuesday, October 21. Today, the company is providing updates on production, sales volumes and other relevant items.

Vår Energi's net production of oil, liquids and natural gas averaged 370 kboepd in the third quarter of 2025, an increase of 29% compared to the second quarter and an increase of 44% compared to the third quarter of 2024.

Vår Energi expects to reach around the middle of the production forecast of 330-360 kboepd for the full year 2025.

Production of around 430 kboepd is expected for the fourth quarter of 2025.

The production split in the third quarter was 74% oil and NGLs (liquids) and 26% gas.

The total production volume amounted to 34.1 million boe, while the sales volume in the quarter reached 30.5 million boe. The shortfall is mainly due to the timing of crude oil production in the quarter.

Vår Energi achieved a strong average realized price (volume weighted) of USD 68 per boe in the quarter.

The realized crude oil price was USD 69 per barrel.

The realized gas price of USD 73 per boe is the result of fixed price contracts and flexible gas sales agreements that allow for optimization of the indices.

The fixed-price contracts accounted for 18% of the gas volumes sold in the third quarter and were concluded at an average price of USD 90 per boe, which is significantly higher than the spot market reference price.

For the fourth quarter, fixed-price gas contracts accounted for 15% of volumes at a price of USD 78 per boe.

》Other items:《

Vår Energi's functional currency is NOK, while interest-bearing loans are denominated in USD and EUR.

The appreciation of the NOK in the third quarter of 2025 resulted in a net exchange rate gain of around USD 50 million.

However, the company expects higher depreciation per boe for the quarter as new fields come on stream.

》As previously announced, the following items impacted cash flow in the third quarter:《

Cash tax payments totaling around USD 530 million and a dividend payment for the second quarter of USD 300 million, which was paid in August.

The above information is based on a preliminary assessment of the Company's financial results for the third quarter of 2025 and is subject to change until the Company's final approval and publication of its financial statements.

Vår Energi ASA $VAR (-0.52%) is pleased to announce an increase in both production and recoverable volumes from the Gjøa field (PL153) following the start-up of the Gjøa low pressure project.

The project has modified the compressor systems on the Gjøa platform, allowing the wells to operate longer and at higher production rates, which has resulted in an increase in remaining recoverable volumes.

Production from the Gjøa field increased by 6 thousand barrels of oil equivalent per day (kboepd) from 35 kboepd to 41 kboepd (gross) as a result of the start-up. In addition, the remaining recoverable volumes increased by a total of 6.3 million boe, which corresponds to an increase of around 25 %. The low-pressure project extends the economic production life of Gjøa by 2 to 3 years and has a payback period of less than 6 months.

Torger Rød, COO of Vår Energi, said:

"This is a great achievement. By using standard technology, we are not only increasing production and remaining recoverable volumes from the Gjøa field, but also extending the economic life of the other production fields Duva, Vega and Nova, which are connected to the Gjøa platform. This is a win-win situation for the production fields and the development projects in the greater Gjøa area."

The platform modifications enable flexible operation and are expected to increase production from all connected production fields. The project was carried out as part of a planned maintenance shutdown to minimize the impact on daily operations.

...just 3 months ago the 3rd milestone of 20k was reached earlier than expected, last month we also raised our personal year-end forecast from 23k-25k to 25k-28k and now, 1 month later, we are pleased to have to raise it again.

The new target is now 27k-30k and should the upper limit be reached here, the last 10k would be realized in just 6 instead of 10-12 months.

Some people may smile at this numerical example, but this is still a boring dividend portfolio 🤫

...but a quick look at the facts...

...September, even if it wasn't my strongest month, delivered average results in contrast to the past, but we probably owe that more to the April🍊 correction than to the usual course of events...

...for the year as a whole, as I mentioned at the beginning, things are still looking pretty good...

...and more than satisfactory over the entire term so far 🫠

Above all, however, because the currently forecast dividend value for 2026 is mathematically a good ~27% of the average annual investment amount or, to put it another way, this increases by a good ~27% on its own (without taking into account any increases/caps) 💪🏻

Which brings us to the topic of dividends...

...September was a good month and, despite the still modest portfolio value, brought us a monthly dividend of €275.42 net (gross €298.99) for a good reinvest 🤑

There was also a small change to the portfolio itself this month:

》🟢 Top 3

$3750 (+3.18%) +35,19% (+74,45%)

$HSBA (+0.7%) +9,41% (+23,42%)

$RIO (+0.1%) +4,91% (+5,95%)

》🔴 Flop 3

$HAUTO (+1.22%) -8,32% (+44,10%)

$BATS (-0.34%) -6,64% (+80,26%)

$1211 (-0.52%) +1,28% (-16,36%)

》Disposals

$PETR4 (-0.64%)

$JEGP (-0.27%)

》Additions

$DTE (-1.26%)

$WINC (+0.26%)

》Increased

$DTE (-1.26%)

$VAR (-0.52%)

All in all, a good look back at the future 📈

Wishing everyone a nice rest of Sunday and a good UPtober together ✌🏻

Vår Energi ASA $VAR (-0.52%) announces that it has acquired TotalEnergies' interest $TTE (-0.06%) in the Ekofisk PPF ("Previously Produced Fields") development project in license PL018F.

The Ekofisk PPF project is located in the greater Ekofisk area on the Norwegian Continental Shelf (NCS). The project will extend the production life of the Ekofisk area. The redevelopment will enable better reservoir development and higher production rates through the use of new completion and horizontal drilling technologies, which will lead to a significant increase in recoverable resources. The project includes four new subsea templates and 11 production wells connected to the Ekofisk Field Center.

The transaction increases Vår Energi's interest in the PPF project in license PL018F from 12.388% to 52.284%, strengthening the company's position in the greater Ekofisk area. The closing of the transaction is subject to the final investment decision for the PPF project and customary regulatory approvals, including the carve-out of the PL018F license from the PL018 license. The effective date is January 1, 2025.

The transaction will add estimated net proved and probable reserves of 38 million barrels of oil equivalent (mmboe) with a low operating cost per barrel and potential for further growth.

The final investment decision is expected to be made in the fourth quarter of this year, with production from the project expected to commence in late 2028.

Nick Walker, CEO of Vår Energi, commented: "The Ekofisk-PPF project is a strategic development that supports our ambition to maintain production levels of 350 to 400 thousand barrels of oil equivalent (kboepd) by 2030 and beyond. The transaction also supports our hub strategy by strengthening our presence in an area where we already have a presence and adding low-cost reserves with significant upside potential."

Production from the Equinor-operated Askeladd West field in the Barents Sea has started. Askeladd West will make an important contribution to maintaining the production level of the Snøhvit field.

The Askeladd West subsea gas field is an important step in the further development of the Snøhvit field. This highly profitable project expands the gross recoverable reserves by around 15 billion standard cubic meters of gas and will

and will ensure full utilization of the LNG plant in Hammerfest in the coming years.

Torger Rød, COO at Vår Energi $VAR (-0.52%)said:

"We congratulate Equinor on the safe and successful start-up of Askeladd West. The field will add reserves of around 11 million barrels of oil equivalent net to Vår Energi and further strengthen our position as a major player in the Barents Sea. Norway is an important gas supplier to Europe and Vår Energi plays a significant role as one of the country's largest gas exporters."

I would like to start a completely new portfolio that will primarily revolve around dividends.

As a core I was thinking of $TDIV (+0.15%)

Would you say this is a good core?

If not I would add $VHYL (+0.23%) add.

Additionally I would like to have a CC ETF as a kind of support, probably $JEGP (-0.27%) and or $SXYD (+0.03%)

I would like to represent the NASDAQ with $EQQQ (+1.05%) but I will represent it with $ASML (+0.48%) and $2330 will be added.

Allianz $ALV (+0.31%) and Munich Re $MUV2 (+0.37%) I definitely want to include, but they are too expensive for me financially, so I was thinking of the $EXH5 (+0.3%)

Oil shares are represented by $VAR (-0.52%) and one more.

Do you have any recommendations?

I am thinking about $CVX (-0.43%)
$EQNR (-2.26%) and $PETR4 (-0.64%)

I would also like renewable energies, but I'm not familiar with them.

Do you have any suggestions?

Becoming a defensive company $ULVR (+0.45%)
$D05 (-0.84%)
$O (+0.03%) and of course $NOVO B (+0.25%) Being.

$BATS (-0.34%) I already have in a portfolio, would it be too much of a lump to add $MO (-0.03%) to add to it?

I still have $KHC (-0.4%) on the watchlist but the split is not going so well, would it be wise to start with a savings plan?

Apart from that $RIO (+0.1%)
$NKE (-0.68%)
$1211 (-0.52%)
$SOFI (+3.49%) and $HAUTO (+1.22%) will be represented with smaller positions.

What is your opinion?

Would you improve anything?

What else would you add, especially in EE and defensive stocks?

Feedback is very important to me here, so far I have just been wandering aimlessly around the stock market without a fixed plan and strategy.

This is my first attempt to build something serious.

Greetings to all Getquins out there!

...here, in contrast to $PETR4 (-0.64%) no liquidity/dividend problem in the short/medium or long term. In contrast to the nasty withholding tax, but you can easily and conveniently get it back 👍🏻

Hello everyone,

I am currently looking for 1 or 2 dividend stocks, what else do you have in your portfolios? I currently have $MUX (+1.59%)
$HSBA (+0.7%)
$VIG (-0.84%)
$ISP (-0.28%)
$VAR (-0.52%)
$RIO (+0.1%)
$NN (+0.93%)
$KO (-0.26%)

I'm looking for something that doesn't come from the commodities, insurance or banking sectors. I have possibly thought of $BATS (-0.34%) thought of.

Thank you for your input.

PS: $PEP (+0.08%) and $MCD (-0.47%) I would not like to have as a dividend stock.