DNO ASA: Business Overview, Financials & Competitive Analysis
DNO ASA scores 7/10 on the AskCyborg Cyborg Score (Strong). High-margin North Sea assets combined with disciplined exploration create compelling mid-cap upside in volatile commodity markets. DNO reported a year-on-year doubling of revenues to USD 1,474 million in 2025, with cash from operations more than doubling to USD 929 million. The company demonstrated resilience and growth acceleration through strategic M&A.
What is DNO ASA's industry? DNO ASA (dno.no) operates in Oil & Gas Exploration and Production. AskCyborg classifies DNO ASA under Oil & Gas Exploration and Production in its company registry.
DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971, DNO is Norway's oldest oil company and the first to list on the Oslo Stock Exchange in 1981. The c...
Cyborg Score thesis
High-margin North Sea assets combined with disciplined exploration create compelling mid-cap upside in volatile commodity...
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Get Current Report FreeDNO ASA Overview
Pro stress-test →DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971, DNO is Norway's oldest oil company and the first to list on the Oslo Stock Exchange in 1981. The company delivered record 2025 results with strategic growth through the Sval Energi acquisition.
Strategic Profile
Pro stress-test →DNO achieved net production of 110,700 boepd in 2025, the highest in the Company's 54-year history, split between the North Sea (54,800 boepd), Kurdistan (52,600 boepd) and West Africa (3,300 boepd). The Company projects 2026 net production to climb 10 percent to 150,000 boepd in 2026. DNO maintains strong operational execution with active exploration programs and attractive acquisition opportunities ahead.
Competitive Landscape
Pro stress-test →Okea, Equinor, Tullow Oil, Gulf Keystone Petroleum, and ConocoPhillips are some of the 35 competitors of DNO. DNO differentiates through its high-pace exploration strategy in core North Sea areas and diversified geographic exposure (Kurdistan, West Africa). The company's 50%+ exploration success rate and operatorship positions provide competitive advantages.
Industry Context
DNO ASA operates in Oil & Gas Exploration and Production.
Key facts
Founded: 1971 · Headquarters: Oslo, Norway · Employees: 1,070 · Revenue: $1.47B · Market cap: $1.63B