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Aker BP

12/01/2023

2023 will be the first full operational year for the new entity after the acquisition of Ludin. Even using a conservative assumption of $70 per barrel, the consensus forecast for free cash flow generation by the Nordic upstream operators looks good in 2023, meaning higher-than-expected shareholder capital returns are likely. A regular dividend of $2.50 is probable, and a special dividend is also possible. We truly believe that the market is under appreciating the potential of the merged entity. Expected revenue growth is 26%.

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