Var Energi production rises 6%, guides for higher Q4

Var Energi reported 6% quarterly production growth to 288 kboepd in Q2 2025, though first-half output averaged 280 kboepd at the lower end of expectations due to Johan Castberg delays.

The company expects full-year production at the mid-point of its 330-360 kboepd guidance, with Q4 production projected around 430 kboepd. Average realized prices reached USD 70 per boe, with crude at USD 68 per barrel and gas at USD 79 per boe.

Var Energi recorded USD 510 million in pre-tax impairment reversals on the Balder field.