Skip to content


Every quarter ahead of the earnings announcement, Equinor will collect earnings and production estimates from the equity analysts currently covering the company. These numbers become a proxy for what the market expects in terms of Equinor’s results.

Analysts following Equinor

1st quarter 2022 — Collected April 2022, 25 analysts provided input

In million USD

E&P Norway 15841
E&P International 990
E&P USA 613
MMP -323
REN -11
Other -38
Adjusted earnings before tax 17071
Tax, E&P Norway 12034
Tax, E&P International 379
Tax E&P USA 11
Tax, MMP -187
Tax, Other -21
Tax in total 12214
Adjusted earnings after tax 4857
Expensed exploration impacting EPN 81
Expensed exploration impacting EPI 97
Expensed exploration impacting EP USA 30
Liquids production Norway 644
Gas production Norway 796
Liquids production EPI, equity 278
Gas production EPI, equity 48
Liquids production EP USA, equity 131
Gas production EP USA, equity 207
Total production, equity 2105
PSA/royalty effect, EPI 96
PSA/royalty effect, EP USA 46
Total production, entitlement 1962
Realized price EPN, liquids/bbl USD 100.0
Realized price EPI, liquids/bbl USD 97.9
Realized price EP USA, liquids/bbl USD 84.1

Method: Consensus numbers for reporting segments, as well as tax and production items, represent the average of the inputs after deducting the highest and lowest value for each item. Inputs for EPI that had not been spilt into the new reporting segments (EPI and EP USA) were split in accordance with the ratio for other inputs received. The consensus numbers for adjusted earnings (before tax) represents the sum of the consensus for reporting segments. Estimate for after tax earnings (adjusted) equals the consensus pre-tax number minus consensus for tax in total. Total equity production and entitlement production is the sum of the consensus items for production.

Historical consensus information and invitations for consensus input