Strong Gas Production and Financial Performance
Gas production was particularly strong in Norway and the US, capturing higher prices. Adjusted operating income was reported at $8.6 billion before tax, with a strong cash flow from operations after tax at $7.4 billion.
Solid Financial Position and Capital Distribution
Equinor maintains a strong cash position of around $25 billion and a net debt ratio below 7%. The board approved an ordinary cash dividend of 37 cents per share and a second tranche of share buyback of up to $1.26 billion, totaling an expected $9 billion in capital distribution for the year.
Record Low Incident Frequency
The incident frequency reached a record low of 0.28, and the total recordable injury frequency was 2.2 per million hours worked over the last 12 months.
Positive Impact of U.S. Gas Market Strategy
Realized U.S. gas price was $4.06, a 74% increase from the same quarter last year, driven by strategic marketing and trading practices.